The Oakland-born rapper Stanley Burrell became a millionaire thanks to songs like “U Can’t Touch This” and “2 Legit 2 Quit,” which were big pop-rap hits. And everywhere you went, there was something with his name on it.
MC Hammer was in everything from cartoons to commercials. It was too bad it couldn’t last forever. He supposedly made nearly $70 million at the height of his career, but it only took him less than five years to file for bankruptcy.
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MC Hammer Net Worth in 2023
According to Celebrity 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. MC Hammer was known for his unique way of moving and his crazy clothes. In the 1990s, he sold more than 25 million records.
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MC Hammer Early Years
Stanley Kirk Burrell was born to Louis Burrell Sr. and Betty Burrell on March 30, 1962, in Oakland, California, United States. His father was a warehouse manager who also ran a casino and played poker professionally. His mother worked as a secretary.
Burrell went to McClymonds High School, and in 1980, he got his diploma from there. He played second base in high school and wanted to become a competitive baseball player. But he did not make the team when he tried out for the San Francisco Giants.
MC Hammer Career in Music
After MC Hammer graduated from high school, he spent three years in the U.S. Navy. Then he turned his attention to music. Hammer got his start in music when he and another rapper, Jon Gibson (J.G. ), started a Christian rap group called the Holy Ghost Boys.
The group is known for songs like “Word” and “B. Boy Chill.” M.C. Hammer took $20,000 from Dwayne Murphy and Mike Davis after he failed to get a record deal.
He used the money to start a record label called Bust It Productions, which later changed its name to Bustin’ Records. Hammer’s first album, “Feel My Power,” came out in 1987 through his record company. More than 60,000 copies of the album were sold. The songs “Let’s Get It Started” and “Ring Em” were the biggest hits.
Since then, MC Hammer has made ten more records in a studio. Among them are: “U Can’t Touch This,” “Don’t Hurt ‘Em,” and “Too Legit to Quit,” which are some of Hammer’s most popular songs from his different records.
Other Projects
Even though MC Hammer is best known for his rapping skills, he is a skilled musician who has tried and succeeded at many things. In his movie, “Please Hammer Don’t Hurt ‘Em: The Movie,” Hammer made and acted in 1990.
He has also been in a number of movies, such as One Tough Bastard (1996), Reggie’s Prayer (1996), The Right Connections (1997), Deadly Rhapsody (2001), Finishing the Game (2007), and 1040 (2010). MC Hammer was also a teacher for a while.
He has also been the host of a few TV shows and a judge at dance contests. Not to mention all the business things he did.
MC Hammer Bankruptcy
Unfortunately, MC Hammer broke in front of many people. Since then, he has made some progress with releasing new albums, managing a record label, and other business projects. In 1991, MC Hammer made the most money.
During that time, he made $33 million from selling records, selling merchandise, getting contracts, and going on tours. If you made $33 million in 1991, that’s the same as about $70 million today.
During those years when MC Hammer made a lot of money, he also spent a lot of money. Hammer got about $10 million worth of debt between 1990 and 1996. In 1996, he did it for real and filed for bankruptcy. According to his bankruptcy file, Hammer borrowed $500,000 from NFL/MLB star Deion Sanders and gave $500,000 to a personal lawyer.
Hammer spent his money on dozens of expensive sports cars, planes, a record company, and a 12-acre mansion in Fremont, California.
Hammer was also known for having a large group of people around him. At the height of his success, he was said to spend $500,000 a month just on his group of people.
By December 2013, Hammer was still due the IRS $800,000 in back taxes and penalties on income from 1996 and 1997. Several legal papers that have been made public say that every dollar Hammer makes must first go to the IRS before it can be given to him.
Hammer Time Mansion
In October 1990, MC Hammer bought a 12.55-acre piece of land in Fremont, California, for $5 million. The house is in the hills above the rough part of Oakland, where he grew up. It was unheard of to spend $5 million on a house in this area or anywhere else in California except for the best zip codes. If you spent $5 million in 1990, it would be the same as if you spent $11 million now.
Hammer then tore down the 11,000-square-foot mansion on the land and built a 40,000-square-foot custom mansion. The new mansion had a bowling alley, Italian marble floors, two swimming pools, multiple tennis courts, a recording studio, state-of-the-art computerized thermostats, a media room, four dishwashers, a rehearsal hall, a 17-car garage, and a baseball field. Hammer put between $12 million and $20 million into building his dream house.
That’s the same as buying a home for between $25 and $45 million today. Here’s a walk of the mansion from 2012, when it was for sale: Hammer’s money was mostly used up by the costs of building the house.
Then, taking care of the large land was hard for him. Hammer put the house up for sale for $6.8 million after he went bankrupt in 1996. The house sold for $5.3 million in August 1997. In 2012, the house was sold again for $5.4 million.
Final Words
MC Hammer’s fame didn’t last long, but it wasn’t forgotten. Burrell’s hit songs made him a lot of money and put his name in the history of rap music.
But in just five years, he seemed to have lost all of the money that came with his fame. Many people think this is because he spent a lot of money and couldn’t make another hit after “U Can’t Touch This.”
Maybe he didn’t know how to handle his sudden wealth because he didn’t know how to handle his own success. Maybe he spent money he hadn’t gained because he was sure he could make another big hit.
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