MC Hammer Net Worth (Money & Salary)
MC Hammer Net Worth (Money & Salary)
September 28, 2024
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MC Hammer’s Net Worth – How much does he have?
With a net worth of $2 million, American rapper, entertainer, and dancer MC Hammer’s fortune once reached $70 million in the 1990s. However, due to excessive spending, he declared bankruptcy in 1996. Further details about his financial situation and his extravagant mansion that led to his financial downfall are discussed later in this article. Known for his exceptional dancing skills and bold fashion choices, MC Hammer sold over 25 million albums during the 1990s.
One of Hammer’s most successful albums, “Please Hammer, Don’t Hurt ‘Em,” released in 1990, was the first hip-hop album to achieve diamond certification, selling over 10 million copies. The album’s hit single, “U Can’t Touch This,” a global sensation, heavily sampled Rick James’ “Super Freak.”
Following this success, MC Hammer released another hit album, “Too Legit to Quit,” in 1991. Despite his initial success, financial troubles forced him to file for bankruptcy six years later in 1996. However, Hammer remained active in music and pursued other ventures, such as becoming an ordained minister, a reality TV personality, and a successful entrepreneur. While his later albums in the late 1990s and 2000s did not match the commercial success of his earlier work, he continued to release new music.
MC Hammer/ Justin Sullivan/Getty Images
MC Hammer’s Childhood
Stanley Kirk Burrell, known as MC Hammer, was born on March 30, 1962, in Oakland, California. His mother was a secretary, and his father was a professional poker player. Stanley grew up with his mother and eight siblings in a modest three-bedroom apartment in an East Oakland housing project. The family earned money by selling stray baseballs in the parking lot of the Oakland Coliseum. Stanley caught the attention of Charles Finley, the owner of the Oakland Athletics, who hired him as a clubhouse assistant and batboy after witnessing his dance skills in the parking lot. Burrell got his nickname “M.C.” from his time with the A’s, where he was known as a “Master of Ceremonies.” He was also called “Hammer” due to his resemblance to baseball great “Hammering” Hank Aaron.
After graduating from McClymonds High School in Oakland, MC Hammer joined the U.S. Navy and served as a Petty Officer for three years before receiving an honorable discharge.
MC Hammer’s Start in the Industry
In the late 1980s, MC Hammer gained significant popularity with his unique style of “pop rap.” He was the first rap artist to achieve Diamond status for an album. Despite criticism from some in the rap community for his mainstream approach, MC Hammer remains one of the most recognized rappers and entertainers, known for his energetic dance moves.
His career began in small venues in Oakland, where he started rapping. After a failed record deal, MC Hammer borrowed $20,000 each from former Oakland A’s players Mike Davis and Dwayne Murphy to establish his own record label, Bust It Productions.
Out of his basement and car, he sold records to keep the company going, turning Bust It Productions into Bustin’ Records, with MC now working as CEO. His first album under his label, “Feel My Power,” was released in 1986 and sold over 60,000 copies. The singles “Let’s Get It Started” and “Ring ‘Em” garnered moderate radio play and became popular tracks at local nightclubs.
(Photo by Neilson Barnard/Getty Images for BMI)
Superstardom
In 1998, Hammer’s unique and infectious stage persona caught the attention of a Capitol Records executive at one of his shows in an Oakland club, leading to a record deal and a $1,750,000 advance.
The single “U Can’t Touch This” off “Please Hammer, Don’t Hurt ‘Em” in 1990 became his biggest hit, topping the “Billboard” Hot R&B/Hip-Hop Songs Chart, with the album sitting at #1 for 21 weeks. The song won two Grammys and remains popular in films and TV. In 1991, Hammer extensively toured Europe in support of the album, noted for sampling renowned artists like Prince, The Jackson 5, Marvin Gaye, and Faith No More.
Another mega-hit, “Too Legit To Quit,” was released in 1991, peaking in the top five of the “Billboard” 200. Hammer embarked on a lavish tour with Boyz II Men as the opening act, creating one of the most expensive music videos ever with “2 Legit 2 Quit.” With seven more studio albums released, Hammer has achieved global success, selling over 50 million records, winning three Grammys, and receiving various lifetime achievement awards. His iconic singles are still part of commercials and films today.
Transitioning into other roles, Hammer became an ordained preacher, TV show host, dance competition judge, actor, and producer. He starred in his movie, “Please Hammer Don’t Hurt ‘Em: The Movie,” in 1990, and co-founded the dance website Dance Jam in 2008. As CEO of his record label and executive producer of the short-lived reality TV show “Hammertime,” Hammer has remained active in various entertainment pursuits.
In 2020, MC Hammer featured in a Cheetos commercial during the Super Bowl, marking the 30th anniversary of “U Can’t Touch This.” He has recently been seen as a spokesperson for Starburst and 3M Command Strips.
MC Hammer Bankruptcy
Photo by Rich Polk/Getty Images
Unfortunately, MC Hammer faced a very public bankruptcy. Following this, he managed to make a partial recovery through new album releases, record label management, and other entrepreneurial ventures.
In 1991, MC Hammer earned a record $33 million from various sources such as record sales, endorsements, and touring revenue. Adjusted for inflation, this would be equivalent to earning around $70 million in today’s dollars.
During his peak earning years, MC Hammer spent lavishly, accumulating about $10 million in debt between 1990 and 1996. Eventually, he officially filed for bankruptcy in 1996, indicating debts such as a $500,000 loan from Deion Sanders and $500,000 to a personal lawyer.
His extravagant spending included luxury cars, airplanes, a record company, and a 12-acre estate in Fremont, California. Additionally, he was famous for his large entourage, reportedly spending $500,000 per month just on them during his peak fame.
Even by December 2013, Hammer still owed the IRS $800,000 in back taxes and penalties from income earned in 1996 and 1997. Legal documents revealed that all his earnings must first go to the IRS before reaching him personally.
Hammer Time Mansion
In 1990, MC Hammer invested $5 million in a 12.55-acre property in Fremont, California. The property, located in the hills above his childhood neighborhood, underwent significant transformation. He demolished the existing 11,000-square-foot mansion and replaced it with a 40,000-square-foot custom mansion, featuring extravagant amenities such as a bowling alley, marble floors, multiple pools, and more.
Construction costs for the mansion ranged from $12 to $20 million, equivalent to $25 to $45 million today. Financial strains from the property led to its sale in 1997 for $5.3 million and again in 2012 for $5.4 million.
Personal Life
Currently, Hammer resides in a modest ranch-style house in Tracy, California, with his wife Stephanie, whom he married in 1985. They have five children – Bobby, Jeremiah, Sammy, Sarah, and A’keiba, and also take care of Hammer’s nephew.
Active on social media, Hammer is involved in consulting and investing in eight tech companies.
On various tech projects, spending 10 to 12 hours daily and tweeting 30 to 40 times a day.
The data covers 2023 and 2024, and projected figures extend to 2025, 2026, 2027, and 2028. Africa, Antarctica, Asia, Europe, North America, Australia (Oceania), Middle East, South America.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
MC Hammer Net Worth (Money & Salary)
