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Founder of the Big Machine Label Group, Scott Borchetta, whose net worth is around $200 million, is currently in stable condition after meeting with an accident at the Trans-Am Series on March 26.
TobyChristie.com reported that Borchetta had to be rescued from the accident site when his car went off course in the high-braking Turn 1 of the 12-turn course.
The broadcast team for Trans Am also gave an update on his condition at the time and stated:
"I can tell you [Scott] is okay. He is conscious, and he's been talking to his team, but he is on his way to the hospital. It was a big hit, but I am glad to say he is now in good care and being taken to the hospital."
Scott Borchetta's record label revealed the news of his recovery in an official statement detailing everything that happened and concluded by stating:
"We ask everyone to please respect the Borchetta family's privacy during this time."
Scott Borchetta's net worth is reported to be around $200 million
Scott Borchetta has gained recognition as the founder of the Big Machine Label Group. His career as a record executive has contributed a lot to his wealth and according to CelebrityNetWorth, his net worth is estimated to be around $200 million.
The Big Machine Label Group was established in September 2005 and the name was inspired by a song by Velvet Revolver. Their first release was Jack Ingram's album, Live: Wherever You Are, in 2006. The album reached the ninth spot on the US Heatseekers Albums and 33rd on the US Top Country Albums.
Their next release was Taylor Swift's self-titled debut album, which featured 11 singles and reached fifth position on the US Billboard 200. Swift emerged as a winner in four categories of the Grammy Awards in 2010, making her the first artist from the record label to win a Grammy. Her last album released under the record label was Reputation, in 2017.
Scott Borchetta finalized a deal with Clear Channel in 2012 which proved to be helpful for the record label and Zac Brown Band collaborated with them along with three more record labels.
He has been a mentor in the 14th and 15th seasons of the popular singing competition series, American Idol. He started his career as a member of various rock bands and his father was involved in record promotions for different record labels, which helped him to understand everything about the operations in the music industry.
Borchetta soon began working with record labels that started with MTM Records in the 80s. He worked in the promotion and artist development at different record labels like DreamWorks Nashville, MCA Nashville Records, and others.
