About Mc Hammer
MC Hammer, real name Stanley Kirk Burrell is a rapper, entrepreneur and dancer from the United States. Hammer reached the peak of his career in the late 80s and stayed at the prime till mid 90s. He became a hip hop icon after the release of his singles “2 Legit 2 Quit” and “Can’t touch this”. This rapper’s signature characters and features are his flamboyant dancing style Hammer pants. Despite his success in the past MC Hammer net worth is currently estimated at minus $1.5 million.
Stanley was born in California in 1962. His father was a professional poker player and a casino manager. The boy did not see a lot of him as he lived with his mother and eight siblings. With his mother working as a secretary the whole family was extremely poor and lived in a housing project apartment. In order to get some extra cash for the sweets and games the boy used to dance in a parking lot near to his house. Ironically even than MC Hammer net worth was bigger than it is now, when he has a debt that exceeds one million. While dancing in the street Stanley was noticed by Charles Finley, an American businessman who is best remembered for his tenure as the owner of Major League Baseball’s Oakland Athletics.
In 1980s Hammer came up with an idea to create his own recording business. The only problem was MC Hammer net worth did not allow him to make necessary investments. Eventually he started the business with $20 thousand borrowed from Mike Davis, one of the Oakland A’s players. He kept his company Bust It Productions running by selling records out of his car and basement. Eventually he had enough clients and capital to find a second label Bustin’ Records. He released his own debut album Feel My Power in 1987. The album sold more than 60 thousand copies and helped to attract some interesting offers from the major record labels. He soon signed a contract with Capitol records and received $1.75 million payment in advance.
In 1991 the Forbes magazine reported that MC Hammer net worth is $33 million. In 1996 he filed for bankruptcy with a debt of $13 million. Where did all his money go? Commenting his own financial breakdown Hammer once said that it did not happen because he lost his head and wasted all the money for his own pleasure. To quote Stanley, it happened because he “lost his heart”. For example, Hammer has hired 200 people in the community where he lived. When asked whether he regrets the decisions that led him to the bankruptcy Hammer stated that he wouldn’t want to change a single thing in his past.