Saturday 13 February 2016

How MC Hammer landed in £9million of debt, went bust and became a Pastor....


MC Hammer went from riches to rags to God
Source: MC Hammer got very lucky with his dance tune U Can’t Touch This – but was equally unlucky with his bank balance.
The singer has lost his £20million fortune and racked up a colossal £9million debt after he employed an army of 200 staff in his ’90s heyday.
His employees cost him £4.7million in wages every year and included a 40-strong entourage who followed him everywhere.
But the rapper’s lifestyle couldn’t be maintained and after six years of living like a king, Hammer, now 53, sold the pad for £3million – a fraction of what he originally paid.
MC Hammer's staff bill was almost £5million a year
MC Hammer's staff bill was almost £5million a year
His odd riches-to-rags story featured on Channel 5 documentary Bankrupt & Broke: When Celebs Go Bust, aired on Friday.
Hammer also spent cash defending himself against the accusation of infringement of copyright over his hit U Can’t Touch This.
The case was settled out of court and claimant Rick James was then credited as co-composer of the track, which helped shift 18 million copies of the album Please Hammer, Don’t Hurt ’Em.

He blew further millions on upkeep for his mansion in Fremont, California, which housed a recording studio, garage for his 17 cars, 33-seat theatre, baseball diamond, tennis courts and a swimming pool shaped like his trademark puffy trousers.

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