Despite his hit “U Can’t Touch This,” MC Hammer filed for bankruptcy.
MC Hammer had a legitimate hit with “U Can’t Touch This” and the rapper soon had $30 million in the bank. Thanks to his success, Hammer bought a $1 million mansion that he made $30 million worth of adjustments to and staffed 200 people in his home. He also bought a horse stable where he kept 19 racehorses.
Combined with his unrestrained spending and numerous lawsuits, Hammer declared bankruptcy in 1996 while he was reportedly $13 million in debt.
In 2011, he went on “The Oprah Winfrey Show” to talk about spending most days in California’s Silicon Valley and being “loosely involved with about eight [technology] companies.”
