How much is MC Hammer worth now?
|Net Worth:||$2 Million
|Date of Birth:||March 30, 1962|
|Country:||United States of America|
Who Is MC Hammer
MC Hammer (Stanley Kirk Burrell) was born on March 30 1962 in Oakland, California. He is known mostly for his achievements as a rapper and dancer but expanded his activity with numerous businesses that offered him some financial security beyond his musical career.
Throughout his early teenage years, MC Hammer would sell stray baseballs and dance along with a beatboxing friend. His first attempt at rap music was in with a Christian rap music group but he started his professional rap artist career in 1986. Just a few years later, in 1990, MC Hammer released his third album, featuring his most popular record, “U Can’t Touch This”, which brought him his fame and fortune.
In parallel with his music career, MC Hammer built several businesses and as his musical career began losing traction, Burrell sank into debt. At the peak of his career, MC Hammer amassed a net worth of $70 million but lost most of it due to his expensive lifestyle and inability to maintain his success as a rap artist.
American rapper MC Hammer has a net worth of only $2 million dollars, as of 2020.
How Did MC Hammer Get Rich?
Even if MC Hammer took a shot at entrepreneurship, he was not able to make a significant fortune from his business endeavors. Burrell made most of his money from music and when that was gone, he ate away his earnings faster than most of his peers that experienced similar success.
At the peak of his career, MC Hammer had an estimated net worth of $70 million. In 1996, Burrell filed for Chapter 11 bankruptcy. This was just 6 years after he released his hit single “U Can’t Touch This”, causing great public concern on how Burrell managed his fortune. Burrell openly admitted that most of his fortune was gone due to his lavish lifestyle that became unsustainable once his career took a downturn. Even if he filed for bankruptcy, MC Hammer publicly stated that he was never bankrupt in the true sense of the word and could still have a decent living off his remaining assets.
After losing most of his fortune, Burrell took a bit hit on his net worth and as of 2017, his net worth was estimated at $1.7 million. Despite his bankruptcy, Burrell continued to release music and invest in various tech startups but never reached the same level of wealth as during the peak of his musical career.
Why Is He So Famous?
By 1990, MC Hammer already had 2 solo albums released. His recognition as a rap artist was nothing to brag about but he managed to step out of anonymity when his 3rd album was released featuring his most popular single, “U Can’t Touch This”. Following the release of “U Can’t Touch This”, MC Hammer became a rap star overnight and gained worldwide recognition.
At a certain point in his career, MC Hammer became so famous that other notorious rappers such as Vanilla Ice were paid to wear the signature MC Hammer pants. Allegedly, Vanilla Ice was paid $1 million to wear the MC Hammer pants in one of his videos as part of a PR move from the management of both artists.
The aftermath of “U Can’t Touch This” can be summarized in a boost in earnings from album sales, concerts, record deals, and public appearances. Sadly, MC Hammer was not able to maintain his fame as all his records released after his third album was not received as well. Many would categorize MC Hammer as a one-hit-wonder. As the hype surrounding the artist diminished, his most popular tracks are still praised today.
On social media, MC Hammer is still active and releases content quite frequently, showcasing his various activities, public events, and even some religious content. Surprisingly, MC Hammer still has a considerable following across all his social media accounts.
What Makes Him So Successful?
The success experienced by MC Hammer can be attributed to luck. He is seen as a one-hit-wonder as Burrell was unable to reproduce the same level achieved with “U Can’t Touch This”. His subsequent releases were not received that well by the public, however, he never stopped releasing music.
Even if Burrell did not become a successful entrepreneur in the true sense of the word, he did not shy away from investing in different tech startups. Burrell even attempted to create a web search engine to rival Google but his ambitious project was shut down after one year. He continues to invest in tech companies and even owns shares on Twitter according to some recent interviews in 2020.
Today, Burrell no longer carries a celebrity status. While he did earn a fortune as a rap music artist, he slowly fell off and the media as well as his fans lost interest in MC Hammer as a musician. The leftovers from his musical career did help him maintain a decent amount of wealth and continues to invest in tech while staying away from the media.
The success of MC Hammer was short-lived but not unnoticed. Burrell earned a fortune from his hit singles and had his name imprinted into the history of rap music. The fortune that came with his fame was wiped in just 5 years due to his extreme spending habits and failing follow-up on his success hit “U Can’t Touch This”. He was the victim of his success, not knowing how to manage the wealth that came overnight. At his peak, MC Hammer had 17 cars, a private jet, and a $30 million mansion in California. Even billionaires would envy his lavish lifestyle but nobody envied MC Hammer when he filed for bankruptcy.
Beyond his musical career, MC Hammer tried his luck with various startups and movie productions. None of it worked and once he lost his fortune made from music, Burrell was not able to bounce back.
Today, Burrell is a shadow of his former self as he is no longer cashing the spotlight or fan attention. He continues to show up in the media now and then when he makes an investment in a tech start-up or has a public appearance at an event.
What many might not know is that MC Hammer keeps on releasing music. Following his 1990 success with his third album, MC Hammer, he released two new albums, several singles, and had some of his newer songs featured in various commercials.