MR Hammer, born Stanley Burrell, became popular for his distinct style of pop rap, and eccentric flair. Known for baggy ‘Hammer’ Pants, capitating dance moves, and lyrics that were ‘too legit to quit’ he quickly became an international superstar. One of the first hip-hop acts to earn Diamond status, he is credited for helping bring rap into the mainstream. He has, since his bankruptcy, become a preacher and TV host, focusing on his family and repaying his debts.
In 1997 he was forced to sell his dream house in the hills of Fremont for $5.3 million, then moved into this property. A humble downgrade from his multi million dollar dream home, Hammer purchased the 2,653 sq ft home in 1995 for $395K as he reorganized his finances in the wake of his bankruptcy. Though the property has appreciated in value. It's a long way from his old mansion with the Lamborghini in the driveway but it's still a beautiful property.
Hammer is reportedly still in debt to the IRS, recently making the news again as the agency seeks to collect. Unrelenting, the IRS are still after him for a nearly $800,000 dept from back taxes owed between 1996 to 1997.
MC Hammer, with a current estimated net worth of $1.5 million, was at the height of his career a multi-millionaire. He has since lost most of his wealth when he filed for bankruptcy in 1996. At that time, he is said to have had more than $10 million in debts, and was making massive purchases, even spending nearly $500,000 a month for his entourage.
Hammer's peak was 1991 when he earned $33 million. Despite these massive earnings, Hammer because of his spending and debts was forced to file for bankruptcy in 1996. Known for extravagant tastes, he bought luxury sports cars, airplanes, a record company and a 12 acre home in Fremont, California. He spent $30 million building the home from scratch in the hills above the neighborhood he grew up in, and eventually sold it at a loss for well below the asking price. The 40,000 square foot mansion featured a bowling alley, Italian marble floors, two swimming pools, multiple tennis courts, recording studio, a 17 car garage and a baseball diamond.