MC Hammer Net Worth (Money & Salary)

What Is MC Hammer’s Net Worth?

MC Hammer is an American entertainer, dancer, and rapper, whose net worth currently stands at $2 million. During the height of his career in the 1990s, his personal wealth soared above $70 million. Regrettably, he squandered a significant portion of his fortune on extravagant expenditures, which led to his bankruptcy filing in 1996. More details regarding his finances and the opulent mansion that contributed to his financial downfall will be discussed further in this article. Renowned for his distinctive dancing abilities and eccentric fashion sense, Hammer sold over 25 million albums throughout the 1990s.

His debut breakthrough album, “Please Hammer, Don’t Hurt ‘Em,” released in 1990, made history as the first hip-hop album to achieve diamond certification, with sales exceeding 10 million copies. The album included the chart-topping single “U Can’t Touch This,” which prominently sampled Rick James’ “Super Freak” and quickly gained worldwide popularity.

In 1991, Hammer released another successful album titled “Too Legit to Quit.” However, his swift ascent to fame soon gave way to significant financial difficulties, ultimately resulting in his bankruptcy filing in 1996. Despite this challenge, Hammer persisted in creating music and exploring various ventures. He became an ordained minister, a reality TV personality, and a thriving entrepreneur. In the late 1990s and 2000s, he returned to the music scene with several more albums, though these did not reach the commercial heights of his earlier works.

Early Life

Stanley Kirk Burrell, known as MC Hammer, was born on March 30, 1962, in Oakland, California. His father was a professional poker player, while his mother worked as a secretary. Growing up in a three-bedroom apartment within an East Oakland housing project, Stanley shared his home with his mother and eight siblings. They made extra income by selling stray baseballs in the parking lot of the Oakland Coliseum. At the age of 11, he caught the attention of Charles Finley, the owner of the Oakland Athletics, who employed him as a batboy and clubhouse assistant after witnessing him performing splits and dancing. He worked in that role from 1973 to 1980 and earned the nickname M.C. for being a “Master of Ceremonies.” His nickname “Hammer” came from his resemblance to the baseball player “Hammering” Hank Aaron.

Burrell completed his education at McClymonds High School in Oakland before enlisting in the U.S. Navy, where he served honorably for three years as a Petty Officer.

Early Career

By the late 1980s, MC Hammer gained tremendous popularity through his groundbreaking representations of “pop rap.” He is recognized as the first rap artist to have an album certified Diamond. Although some in the rap community labeled him a sellout for his commercial approach to rap, he remains one of the most prominent rappers in history, famed for his vibrant dance styles.

Hammer began performing in small venues around Oakland before a record deal fell through. To pursue his ambitions, he borrowed $20,000 from former Oakland A’s players Mike Davis and Dwayne Murphy. With this funding, MC Hammer established his record label, Bust It Productions, selling records from his basement and vehicle to sustain the company. Bust It Productions evolved into Bustin’ Records, with MC assuming the role of CEO. His debut album was released under his label,

In 1986, “Feel My Power” was released, achieving sales of over 60,000 copies. The singles “Let’s Get It Started” and “Ring ‘Em” gained moderate radio play and rose to popularity in local nightclubs.

Superstardom

It was Hammer’s distinctive and captivating stage presence that led to a pivotal moment in 1998, when he caught the attention of a Capitol Records executive attending one of his performances at a club in Oakland. This resulted in him signing a record deal along with a substantial $1,750,000 advance.

Achieving his most significant success, MC Hammer released the single “U Can’t Touch This” from the 1990 album, “Please Hammer, Don’t Hurt ‘Em.” The song dominated the “Billboard” Hot R&B/Hip-Hop Songs Chart, and the album held the #1 spot for an impressive 21 weeks. Winning two Grammys, the track continues to be utilized in films and TV shows. In 1991, Hammer extensively toured Europe to promote the album, which notably featured samples from renowned artists such as Prince, The Jackson 5, Marvin Gaye, and Faith No More.

In 1991, Hammer released another major hit titled “Too Legit To Quit.” The title track emerged as the standout hit from the album, which reached the top five of the “Billboard” 200. A lavish tour followed, with Boyz II Men serving as the opening act. The music video for “2 Legit 2 Quit” featured numerous celebrity cameos, earning it a place among the most expensive music videos ever produced. This album achieved multi-platinum status, and MC Hammer subsequently released seven more studio albums, varying from moderate to significant success, the last of which debuted in 2009. With over 50 million records sold globally, Hammer has headlined multiple world tours, garnered three Grammys, and received numerous accolades including various lifetime achievement awards. His hit singles remain legendary and are still featured in commercials and films today.

Transitioning to other roles, he has served as an ordained preacher, TV show host, and judge on dance competitions. His involvement in acting and producing is notable, most prominently through his film, “Please Hammer Don’t Hurt ‘Em: The Movie,” released in 1990. He co-founded the dance website Dance Jam in 2008 and currently holds the title of CEO for his own record label, in addition to being the executive producer of a brief reality TV series titled “Hammertime.”

In 2020, MC Hammer featured in a Cheetos commercial during the Super Bowl, celebrating the 30th anniversary of “U Can’t Touch This.” Recently, he has also represented brands like Starburst and 3M Command Strips.

MC Hammer Bankruptcy

Sadly, MC Hammer went through a highly publicized bankruptcy. He has managed to bounce back, partially due to new music releases, managing a record label, and engaging in various entrepreneurial initiatives.

The year 1991 marked MC Hammer’s highest earnings. Within that year, he made $33 million through record sales, endorsements, merchandise, and touring profits. In terms of today’s currency, earning $33 million back in 1991 equates to approximately $70 million.

During his immense earning period, MC Hammer was also extravagant in his spending. From 1990 to 1996, he accrued around $10 million in debt. He officially declared bankruptcy in 1996, and his bankruptcy documents revealed he had borrowed $500,000 from NFL/MLB star Deion Sanders and another $500,000 from a personal attorney.

MC Hammer lavishly spent his wealth on numerous luxury sports cars, airplanes, a record label, and a sprawling 12-acre estate in Fremont, California.

He was infamous for maintaining a large entourage, reportedly spending $500,000 monthly on them at the height of his success.

As of December 2013, MC Hammer still owed the IRS $800,000 in back taxes and penalties linked to income from 1996 and 1997. Several legal documents that were made public indicate that any income Hammer generates must first be paid to the IRS before it reaches him.

Hammer Time Mansion

In October 1990, MC Hammer acquired a 12.55-acre estate in Fremont, California, for the price of $5 million. This property is situated in the hills above the challenging neighborhood of Oakland where he spent his childhood. At that time, it was unprecedented to spend $5 million on a home in this region, or anywhere in California outside the ultra-high-end zip codes. The 1990 expenditure of $5 million is synonymous with investing $11 million today.

He went on to demolish the existing 11,000-square-foot mansion and replaced it with a custom-built 40,000-square-foot residence. This new mansion included a bowling alley, Italian marble floors, two swimming pools, multiple tennis courts, a recording studio, advanced computerized thermostats, a media room, four dishwashers, a rehearsal space, a garage for 17 cars, and even a baseball field. The construction cost for this dream home ranged between $12 million and $20 million, equivalent to spending $25 million to $45 million on a house today. Below is a video tour of the mansion from when it was available on the market in 2012:

The expenses related to constructing the mansion significantly drained Hammer’s financial resources, leading to the challenge of sustaining such an expansive property. After declaring bankruptcy in 1996, he placed the estate on the market with an asking price of $6.8 million. Eventually, in August 1997, the property sold for $5.3 million, and it changed hands again in 2012 for $5.4 million.

Personal Life

Currently, Hammer resides in a rather modest ranch-style home in Tracy, California, along with his wife Stephanie, whom he wed in 1985. They have five children together: Bobby, Jeremiah, Sammy, Sarah, and A’keiba, and also took in Hammer’s nephew.

Hammer stays active on social media and is currently involved in consulting for or investing in eight technology companies. He has mentioned dedicating 10 to 12 hours each day to various tech projects and is known to tweet as many as 30 to 40 times daily.