What Is MC Hammer’s Net Worth?
MC Hammer, an American rapper, entertainer, and dancer, possesses a net worth of $2 million. During his career’s zenith in the 1990s, his personal wealth exceeded $70 million. Unfortunately, extravagant spending led him to deplete much of his fortune, culminating in a bankruptcy filing in 1996. More insights on his financial journey and the extravagant mansion that contributed to his financial downfall will be discussed later in this article. Known for his extraordinary dance abilities and flamboyant style, MC Hammer sold over 25 million albums throughout the 1990s.
His breakout album, “Please Hammer, Don’t Hurt ‘Em,” released in 1990, became the first hip-hop record to achieve diamond certification, selling over 10 million copies. The album featured the iconic single “U Can’t Touch This,” which heavily sampled Rick James’ “Super Freak” and became a worldwide hit.
In 1991, Hammer released another highly successful album, “Too Legit to Quit.” However, his swift ascent to fame was met with financial difficulties, leading to his bankruptcy in 1996. Despite this challenge, he persisted in producing music and exploring various ventures. He became an ordained minister, a reality TV personality, and a successful entrepreneur. Throughout the late 1990s and 2000s, he released several albums, though they did not reach the commercial success of his earlier works.
MC Hammer/ Justin Sullivan/Getty Images
Early Life
Born as Stanley Kirk Burrell on March 30, 1962, in Oakland, California, MC Hammer was raised by a mother who worked as a secretary and a father who played professional poker. He lived in a three-bedroom apartment in an East Oakland housing project alongside his mother and eight siblings. The family earned money by selling stray baseballs in the parking lot of the Oakland Coliseum. One day, the owner of the Oakland Athletics, Charles Finley, spotted 11-year-old Stanley doing splits and dancing in the lot, which resulted in him being hired as a clubhouse assistant and batboy from 1973 to 1980. He earned the nickname M.C. due to being a “Master of Ceremonies” while working with the A’s, and “Hammer” because of his resemblance to baseball legend “Hammering” Hank Aaron.
After graduating from McClymonds High School in Oakland, Burrell enlisted in the U.S. Navy, where he served as a Petty Officer for three years before being honorably discharged.
Early Career
In the late 1980s, MC Hammer gained tremendous popularity with his original presentation of “pop rap.” Notably, he became the first rap artist to achieve Diamond status for an album. Although many in the rap community considered him a sellout for his mainstream approach, Hammer remains one of the most recognized rappers and entertainers, celebrated for his vibrant dance styles.
Hammer started his rapping career in small venues throughout the Oakland area. After a record deal fell through, he secured a loan of $20,000 from former Oakland A’s players Mike Davis and Dwayne Murphy. With this funding, he launched a record label named Bust It Productions, selling records from his basement and car to support the business.going. Eventually, Bustin’ Records was established by Bust It Productions, with MC serving as CEO. In 1986, MC Hammer released his debut album under his label, titled “Feel My Power,” which achieved sales of over 60,000 copies. The singles “Let’s Get It Started” and “Ring ‘Em” received moderate airplay on the radio, becoming popular selections at local nightclubs.
(Photo by Neilson Barnard/Getty Images for BMI)
Superstardom
In 1998, Hammer’s distinctive and vibrant stage presence garnered him a significant opportunity when he captivated a Capitol Records executive during a performance at an Oakland club. This led to a record deal, and he secured an advance of $1,750,000.
His largest success came with the single “U Can’t Touch This,” from the 1990 album “Please Hammer, Don’t Hurt ‘Em.” This single reached the top of the “Billboard” Hot R&B/Hip-Hop Songs Chart, while the album held the #1 position for 21 weeks. The track won two Grammys and has been featured in various film and television projects. In 1991, Hammer extensively toured Europe in support of the album, which notably sampled prominent artists, including Prince, The Jackson 5, Marvin Gaye, and Faith No More.
In 1991, he followed up with “Too Legit To Quit,” which produced the title track as the album’s biggest hit, peaking in the top five of the “Billboard” 200. Hammer embarked on an extravagant tour featuring Boyz II Men as the opening act. The music video for “2 Legit 2 Quit” included so many celebrity cameos that it is considered one of the most expensive music videos ever produced. The album achieved multi-platinum status. Over his career, MC Hammer released seven more studio albums, each varying from moderate success to significant achievement, with his latest album coming out in 2009. Globally, he has sold over 50 million records and has headlined many world tours, winning three Grammys alongside several other accolades, including multiple lifetime achievement awards. His notable singles remain iconic and are still utilized in commercials and films today.
Since then, he has served as an ordained preacher, hosted TV shows, and judged dance competitions. Additionally, he has pursued acting and producing opportunities, including producing and starring in the 1990 film “Please Hammer Don’t Hurt ‘Em: The Movie.” In 2008, he co-founded the dance website Dance Jam. He also serves as the CEO of his record label and as the executive producer of his own short-lived reality TV series, “Hammertime.”
In 2020, MC Hammer made an appearance in a Cheetos commercial during the Super Bowl, commemorating the 30th anniversary of “U Can’t Touch This.” Recently, he has been a spokesperson for Starburst and 3M Command Strips.
Photo by Rich Polk/Getty Images
MC Hammer Bankruptcy
MC Hammer, unfortunately, faced a very public bankruptcy. Since then, he has managed to recover somewhat by releasing new albums, managing a record label, and pursuing various entrepreneurial endeavors.
The year when MC Hammer earned the most was 1991, bringing in $33 million from record sales, merchandise, endorsements, and touring revenue. To put it in perspective, earning $33 million in 1991 is equivalent to approximately $70 million today.
During his years of significant earnings, MC Hammer also engaged in extravagant spending. From 1990 to 1996, he accumulated around $10 million in debt and officially filed for bankruptcy in 1996. His bankruptcy filing revealed that he had taken a $500,000 personal loan from NFL/MLB star Deion Sanders and another $500,000 loan to a personal lawyer.
The money he spent went toward a myriad of luxury sports cars, airplanes, a record label, and a sprawling 12-acre estate located in Fremont, California.
Additionally, Hammer was infamous for having a large entourage. At the height of his fame, reports indicate he spent $500,000 monthly just on his entourage.
As of December 2013, Hammer still owed the IRS $800,000 in back taxes and penalties concerning income from 1996 and 1997. According to various legal documents that have been released, any earnings Hammer generates must first go to the IRS before he can receive any personal distribution.
Hammer Time Mansion
In October 1990, MC Hammer acquired a property in Fremont, California, for $5 million, encompassing 12.55 acres. Nestled in the hills overlooking the rough Oakland neighborhood where he grew up, spending $5 million on a house in this area—or anywhere in California outside the ultra-high-end zip codes—was extraordinary. When adjusted for inflation, that $5 million investment in 1990 equates to $11 million today.
Hammer chose to demolish the original 11,000-square-foot mansion on the property and replaced it with a custom-built 40,000-square-foot mansion. This new residence boasted a bowling alley, Italian marble flooring, two swimming pools, multiple tennis courts, a recording studio, advanced computerized thermostats, a media room, four dishwashers, a rehearsal hall, a 17-car garage, and a baseball diamond. The cost of building his dream home oscillated between $12 and $20 million, which translates to $25 and $45 million in today’s market. Here’s a video tour of the mansion from when it was listed for sale in 2012:
The expenses related to constructing the mansion significantly drained much of Hammer’s financial resources. He subsequently faced the challenge of maintaining such a vast property. After declaring bankruptcy in 1996, Hammer placed the mansion on the market for $6.8 million. In August 1997, it sold for $5.3 million and was resold in 2012 for $5.4 million.
Personal Life
Currently, Hammer resides in a relatively humble ranch-style house in Tracy, California, alongside his wife Stephanie, whom he has been married to since 1985. Together, they have five children: Bobby, Jeremiah, Sammy, Sarah, and A’keiba, in addition to raising Hammer’s nephew.
He remains active on social media, often posting updates, and is currently involved in consulting for or investing in eight tech companies. Hammer claims to dedicate 10 to 12 hours each day working on various tech initiatives and is known to tweet between 30 and 40 times a day.