The late 1980s rap star MC Hammer was extremely successful because of hits like “U Can’t Touch This” and “2 Legit 2 Quit.” But his quick ascent was followed by a sharp decline, and in 1996 he filed for bankruptcy with a significant debt load.
He has since taken part in several projects and, by 2020, managed to keep his net worth at about $1.5 million, mostly from a variety of commercial endeavors and varied investments.
MC Hammer, born Stanley Kirk Burrell in 1962, is an American rapper and entrepreneur. He rose to fame with his hit single “U Can’t Touch This” which was released in 1990 and quickly became a worldwide sensation. Throughout the 90s he continued to release popular songs such as “2 Legit 2 Quit” and “Pray.”
His music has been featured on numerous soundtracks for movies and television shows over the years including Shrek Forever After, The Simpsons Movie, South Park: Bigger Longer & Uncut, Happy Feet Two, and Austin Powers: International Man of Mystery among many others.
In addition to being a successful musician, MC Hammer also ventured into business by launching several companies throughout his career such as MCHammerTV (an online streaming service) and DanceJam (a social networking site).
Hammer rose pretty fast to the top of the music scene, but he quickly fell from it. In merely six years following the success of his breakthrough album, Hammer declared bankruptcy.
In court, he claimed to have $9.6 million in assets against around $14 million in debt.
At his peak of expenditures, Hammer had 40 employees, spent $30 million on the property (which he eventually sold), and had many racehorses in addition to at least 17 cars. Among his debtors was the well-known soccer player Deion Sanders, who lent him $500,000.
In recent years MC Hammer has become more involved in philanthropy work through organizations like Feeding America where he helps provide meals for those who are facing hunger issues across the country.
In addition, he is a member of several boards that support providing impoverished children with access to educational opportunities that they would not otherwise have.
Furthermore, he has represented numerous nonprofit organizations globally as an ambassador, including UNICEF USA and Save the Children UK, to mention a few!
On Friday, a section of Oakland’s street was renamed in honor of Tupac Shakur, who passed away 27 years ago.
Tupac Shakur Way was officially designated on MacArthur Boulevard in the vicinity of his 1990s residence after a ceremony attended by members of his family and Oakland native MC Hammer.
Shakur’s sister Sekyiwa said, “Let his spirit live on for the rest of these years in these streets and your hearts.”
Shakur, wiping away tears at the conclusion of a nearly two-hour ceremony, told the crowd to “set.” A few moments later, the Tupac Shakur Way sign was unveiled.
Before being shot and killed in 1996 at the age of 25, MC Hammer, the rapper from “U Can’t Touch This,” who spent a significant portion of Shakur’s last months with him, declared in his remarks that Shakur was “hands down, the greatest rapper ever, there’s not even a question of that.”
As mentioned earlier, MC Hammer currently has an estimated net worth of around $1.5 million dollars as of 2020, according to CelebrityNetWorth website estimates.
Most of this wealth comes from investments that have been made over time rather than any one single source or venture alone.
It should also be noted that much of this wealth was accumulated prior to 2008 due to financial difficulties experienced after filing for bankruptcy at that time period.