MC Hammer Net Worth, Biography Age, Family, wiki, And Life Story What is MC Hammer's estimated net worth? MC Hammer is an American ra...
MC Hammer Net Worth, Biography Age, Family, wiki, And Life Story
What is MC Hammer's estimated net worth?
MC Hammer is an American rapper, dancer, and performer with a $2 million net worth. In the 1990s, when Hammer was at the top of his game, he was worth more than $70 million. Unfortunately, he spent so much money on himself that he lost most of his money. In 1996, he said he couldn't pay his debts. Later in this piece, you'll find out more about his finances and how his over-the-top mansion cost him a lot of money and pushed him off a financial cliff.
Category:
Richest Celebrities › Rappers
Net Worth:
$2 Million
Date of Birth:
Mar 30, 1962 (61 years old)
Place of Birth:
Oakland
Gender:
Male
Height:
5 ft 11 in (1.82 m)
Profession:
Preacher, Entrepreneur, Actor, Musician, Songwriter, Rapper, Singer, Choreographer, Dancer, Entertainer
Nationality:
United States of America
MC Hammer was known for his distinctive dancing style and eccentric wardrobe. In the 1990s, he sold over 25 million albums.
Early Years
On March 30, 1962, in Oakland, California, Stanley Kirk Burrell was given the name MC Hammer. He grew up in a three-bedroom housing project apartment in East Oakland with his father, a professional poker player, mother, a secretary, and eight siblings. Scattered baseballs would be sold by the Burrell family at the Oakland Coliseum parking lot. Charles Finley, the owner of the Oakland Athletics, recruited 11-year-old Stanley as a clubhouse helper and batboy after spotting him dancing and performing the splits in the parking lot. He was the Batboy from 1973 to 1980. Being a "Master of Ceremonies" while playing for the A's earned him the moniker M.C. He was given the moniker "Hammer" because of his likeness to Hank Aaron, the "Hammering" Hank of baseball.
Following his graduation from Oakland's McClymonds High School, Burrell enlisted in the US Navy. He was a Petty Officer for three years before receiving an honorable discharge.
Earlier Years
With his creative "pop rap" performances in the late 1980s, MC Hammer enjoyed enormous fame. He is also the first rapper to have an album receive a Diamond rating. He is one of the most well-known rappers of all time and an entertainer who is also well-known for his flashy dance moves, despite being viewed as a sellout by many in the rap world for his mainstream approach to rap.
Hammer first started rapping in modest settings close to Oakland. He borrowed $20,000 from former Oakland A's players Mike Davis and Dwayne Murphy after a record deal fell through. MC Hammer used the money to launch Bust It Productions, a musical company. To keep the business afloat, he sold albums out of his basement and his car. Eventually, Bust It Productions became Bustin' Records, with MC serving as CEO. Feel My Power, MC Hammer's debut album on his own label was released in 1987. Over 60,000 copies were sold. Let's Get it Started and Ring 'Em, the songs, received average radio airplay and rose to popularity in the nightclub scene.
Superstardom
When a Capitol Records executive attended one of Hammer's performances at an Oakland club in 1998, he was impressed by his distinctive and contagious stage demeanor and got his big break. Hammer obtained a $1,750,000 advance after signing a record deal.
The song "U Can't Touch This," from the 1990 album Please Hammer, Don't Hurt 'Em, was MC Hammer's biggest hit. The album spent 21 weeks at the top of the chart after the single took the top spot. The song is still a cult favorite. In 1991, Hammer conducted a significant European promotional tour in support of the record. Famous musicians including Prince, The Jackson 5, Marvin Gaye, and Faith No More were used on the CD as samples.
In 1991, Hammer released Too Legit To Quit, which became a huge smash. The album's biggest success, the title tune, reached the top five on the Billboard 200. Boyz II Men served as the album's opening act as Hammer embarked on a huge and opulent tour. The "2 Legit 2 Quit" music video was one of the most expensive to produce because it included so many famous cameos. Platinum was awarded to the album. MC Hammer went on to record seven more studio albums, the last of which was in 2009. All of them were moderately to greatly successful. Hammer has led multiple international tours and sold more than 50 million records worldwide. In addition to multiple other honors, such as several lifetime achievement awards, MC Hammer has received three Grammys. His greatest hits endure in oblivion and are still utilized in advertisements, films, and advertising.
Since then, he has held positions as a judge for dancing competitions, a TV show host, and an ordained preacher. He has also experimented with acting and production. In 1990, MC Hammer released Please Hammer Don't Hurt 'Em: The Movie, which he also produced and starred in. He contributed to the creation of Dance Jam in 2008. Additionally, he serves as the CEO of his own record company and Executive Producer of his own, ephemeral reality TV program, "Hammertime."
The bankruptcy of MC Hammer
Unfortunately, MC Hammer filed for bankruptcy in front of many of people. With the publication of new albums, the operation of a record company, and other business endeavors, he has since made some progress.
1991 was MC Hammer's highest-earning year. He made $33 million from record sales, merchandise, endorsements, and touring throughout those 12 months. A person making $33 million in 1991 would be equivalent to earning almost $70 million now.
During those years of massive income, MC Hammer also engaged in massive expenditure. Hammer racked up debt of almost $10 million between 1990 and 1996. In 1996, he formally declared bankruptcy. Deion Sanders, an NFL/MLB player, gave Hammer a personal loan of $500,000, and Hammer also paid a personal lawyer $500,000, according to his bankruptcy declaration.
Hammer wasted his money on a record label, hundreds of high-end sports vehicles, jets, and a 12-acre mansion in Fremont, California.
Hammer was infamous for having a large following. At the height of his celebrity, he reportedly spent $500,000 a month on only his entourage.
Hammer still owing the IRS $800,000 in overdue taxes and penalties for income between 1996 and 1997 as of December 2013. The IRS must be paid a portion of every dollar Hammer makes up to this point, according to many publicly available legal filings.
Mansion in Hammer Time
MC Hammer spent $5 million on a 12.55-acre property in Fremont, California, in October 1990. He grew raised in a nasty Oakland neighborhood, which is where the property is situated. Anywhere in California besides the ultra-high-end zip codes, spending $5 million on a property was unheard of. $5 million in 1990 is equivalent to $11 million in today's dollars.
Hammer then started demolishing the property's previous 11,000-square-foot mansion and building a 40,000-square-foot new residence in its place. The brand-new estate included a baseball diamond, a bowling alley, Italian marble floors, two swimming pools, several tennis courts, a recording studio, cutting-edge computerized thermostats, a media room, four dishwashers, and a rehearsal hall. Building his ideal home cost Hammer between $12 and $20 million. That is equivalent to buying a home today for between $25 and $45 million. Here is a tour of the mansion from a 2012 listing when it was available for sale:
The mansion's construction costs significantly reduced Hammer's available cash. The tough task of maintaining the large estate fell to him at that point.
Hammer put the house up for sale for $6.8 million after filing for bankruptcy in 1996. The house sold for $5.3 million in August 1997. In 2012, the house was sold once more for $5.4 million.
Personal Life Right Now Hammer and his wife Stephanie—to whom he has been married since 1985—share a modest ranch-style home in Tracy, California. The five kids born to Hammer and Stephanie are Bobby, Jeremiah, Sammy, Sarah, and A'keiba.
Hammer is active on social media and currently works with or invests in eight internet firms as a consultant. Hammer claims to work on several digital projects for 10 to 12 hours each day and has been known to tweet 30 to 40 times a day.
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