MC Hammer When rapper MC Hammer released his hit album “Please Hammer Don’t Hurt ‘Em” in 1990, he had an estimated net worth of $33 million. Not long after, in 1996, Hammer filed for bankruptcy protection with a total of $1 million in assets and at least $10 million in debts. Years later, Hammer told Oprah Winfrey his debt wasnt a result of frivolous spending. He said, “I took my money and employed 200 people in my community. I had a payroll of a million dollars a month at times.” Hammer is now married with five children, and does everything from investing in internet startups to preaching to developing iPad apps. As of 2013, he reportedly still owed the IRS $800,000 in back taxes.
Posted on: Wed, 21 Jan 2015 11:33:29 +0000
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