What Is MC Hammer Net Worth?
Stanley Kirk Burrell, known for his stage name MC Hammer, is an American rapper, hip-hop record artist, record producer and entrepreneur. Professional since 1985, the 3-time Grammy Winner quickly achieved fame and was one of the commercially successful personalities of the late 80s and 90s.
To date, the American hip-hop artist has released 6 studio albums, including the 10-time RIAA certified Platinum Please Hammer album, Don’t Hurt ‘Em and hit “U Can’t Touch This” and “2 Legit 2 Quit”.
As of July 2019, MC Hammer Net Worth estimated of approximately $1.5 million. Although in the past, the rapper was worth more, his unmanaged expenses for luxuries wiped out a mass of his fortune, which led him to declare bankruptcy once.
Details Of Net Assets: Sources Of Income And Profits
With a brand of flashy dance moves and Hammer pants, MC Hammer once owned a net worth of around $33 million in the early 1990s.
MC Hammer net worth estimated of around $1.5 million in July 2019. The main source of his income is the sale of albums and record production, but the uncontrolled expenses led him to the failure that he never recovered well.
Very often, his fortune is compared to another American DMX rapper who has a net worth of $10 million, which he once declared bankrupt in 2013.
Starting his career with a Christian rap group, Holy Ghost Boys with CC Gibson, Hammer released a Feel My Power album in 1987.
Subsequently, MC Hammer was signed by Capitol Records, earning $1.75 million for the deal. With Capitol, the American rapper re-released his Feel My Power albums like Let’s Get It Started and got the Platinum RIAA certification.
To date, he has released 6 studio albums: Let’s Get It Started (1988), Please Hammer, Don’t Hurt ‘Em (1990), Too Legit to Quit (1991), The Funky Headhunter (1994), Inside Out (1995) and Family Affair (1998).
Among these, Please Hammer, Don’t Hurt ‘Em has become 10 times Platinum certified by RIAA while the album Too Legit to Quit has been awarded Platinum certification 3 times by RIAA.
As reported, after a decade of bankruptcy, MC Hammer sold his music catalog (with around 40,000 songs) in 2006 to Evergreen / BMG for $3 million.
In addition to his musical career, he also has remarkable film appearances in One Tough Bastard (1996), Reggie’s Prayer (1996), The Show Connections (1997), Deadly Rhapsody (2001), Finishing the Game (2007) and 1040 (2010).
Trivia: MC Hammer is a good friend of boxing legends: Mike Tyson and Evander Holyfield.
Goods, Home, Cars, Lifestyle and Expenses
Currently, MC Hammer lives with his family at his home in Tracy California. The rapper bought a 2,653-square-foot house in 1995 for $395,000, which is now estimated to be $789,000.
The sources mention that he also owns another property in Cleveland, Ohio.
As reported, in 1997, he was forced to sell his similar house in Xanadu in Fremont, California, for $5.3 million after failing to do so.
Initially, the rapper had spent $ 12 million to build the 11,000-square-foot building.
In his day, when MC Hammer earned millions of dollars a year, he lived with a much more luxurious lifestyle and possessed an impressive collection of luxury cars like Maserati GranTurismo, Jeep Wrangler and Rolls Royce.
Meanwhile, the details of his car collection are not available.
In 2007, Hammer co-founded the community site of Menlo Park (Silicon Valley), DanceJam.com, focusing on video dance competitions, techniques and styles. Before the site closed on January 1, 2011, it had received $ 4.5 million in total equity financing.
As reported, his expenses for huge luxury, expensive clothes and priceless activities led him to bankruptcy.
Taxes and Insurance
Because MC Hammer lives in California and owns property in the state, he is subject to fiscal policy: property and income tax.
Well, his residence Tracy, California seeks 0.793% of his estimated value as property tax, accompanied by a home insurance premium of $521- $705 per year.
The sources report that based on its annual revenue of $100,000, Hammer has to pay $19,600 as an income tax.
Filed For Bankruptcy and Reasons
Despite earning $30 million in 1991, as a commercial success of his third album Please Hammer, Don’t Hurt ‘Em (1990), MC Hammer filed for bankruptcy in 1996.
The rapper received $14 million in debts that included a $500,000 loan from football star Deion Sanders and $500,000 from a lawyer. In fact, by the mid-1980s, he had also borrowed $20,000 each from former Oakland players A Mike Davis and Dwayne Murphy.
From 1991 to 1996, MC Hammer had spent $50 million: a monthly entourage of $500,000 and annual expenditures of $6.8 million for 200 people working on his Fremont estate (built for $12 million); the palace was subsequently forced to sell for $5.3 million.
In addition to these, MC had a tax privilege of $800,000 for the period 1996-1997 as per the IRS in December 2013.
In addition, the State of California issued a pledge of $500,197 on back taxes for the 1991-1994 period, while Alameda County requested a pledge of more than $ 230,000.
Awards and Charitable Works
The American hip-hop artist has certainly earned him a row of approval approaches. He is currently the face of 3M command line products and Starburst sweets and has also worked on his advertising and campaigns.
However, Hammer has yet to open the details of his earnings from sponsorship offers. As reported in 2012, it approved the SAFE California Act, which could replace the death penalty if approved.
In addition to these, Hammer is also active in charities and has associations with many non-profit organizations such as the Be-Do-Have Foundation, the Black Eyed Peas Foundation and the Tiger Woods Foundation.
Well, it has modest participation in many donations and fundraising events.
MC Hammer’s Personal Life
Born on March 30, 1962 in Oakland, California, in the United States, MC Hammer’s real name is Stanley Kirk Burrell. His father was a professional poker player and casino gambling manager while his mother was a secretary.
Hammer aka Burrel was raised by his mother along with his 8 brothers in a small apartment in East Oakland. His family became thoroughbred horse races and later became the owner of numerous classified stakes.
The local high school in Oakland, MC Hammer, later took graduation lessons in communication. Subsequently, he went to serve in the United States Navy for 3 years before the musical career started.
It has American nationality and is of African origin. As of July 2019, MC Hammer is 57 years old and has a height of 182 cm (5 feet, 11.5 inches).
Marital Life, Wife and Children
Well, Hammer is a happily married man and enjoys a happy relationship with his 38-year-old wife, Stephanie Fuller. The duo met at a church revival meeting and subsequently married on December 21, 1985.
Together, he and his wife Stephanie share 5 children together, their children: Bobby, Jeremiah and Sammy and 2 daughters: Sarah and A’keiba.
His family also includes Hammer’s grandson, Jamaris, and his cousin Marv. They live in a large ranch style mansion in Tracy, California.
As a matter of fact, MC’s father, in 1991 Superbowl, had encouraged him to marry Whitney Houston.
Did you know? MC Hammer is one of the first celebrities to join social media platforms like Facebook, Instagram and Twitter.