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MC Hammer
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MC Hammer has had his share of ups and downs in the industry. The man born Stanley Kirk Burrell in Oakland, CA, was famously a multi-millionaire at a time when rap music was an underground musical genre and not the pop culture phenomenon that it is today. What’s even more impressive, as AfroTech previously reported, is that he blew through his entire $70 million fortune in about five years. With 20 luxury cars, 21 racehorses, a private jet, and a helicopter to his name — to say nothing of such accouterments as a gold-plated toilet(!), a fleet of racehorses, and a staff that cost him anywhere from $500,000 to $1 million per month — it’s easy to see how money came as quick as it went. Despite his losses, though, MC Hammer says he wouldn’t change a thing. “Some people ask me sometimes, would I go back and change things?” he said to Oprah. “They are flabbergasted by my answer. My real, true answer is I wouldn’t change one thing. I really believe in the butterfly effect. Meaning that if...
Jun 17, 2022
From Dennis Rodman to Ja Rule, celebrities are just like us in that they, too, can make bad financial investments. Most recently, AfroTech told the story of NBA player Tim Duncan, whose scamming financial adviser cost him more than $20 million. Yet, most interestingly of all, Duncan remained unbothered by his ex-adviser’s behavior. “Luckily I had a long career and made good money. This is a big chunk, but it’s not going to change my life in any way. It’s not going to make any decisions for me,” he said. But while the likes of Tim Duncan can easily bounce back from bad financial investments, not every celebrity is quite as lucky. These celebrities made bad financial investments — let’s take a look at how it worked out for them.
May 3, 2022
In the late 1980s and early 1990s, you couldn’t go anywhere without hearing an MC Hammer rap song. The success of such pop-rap hit tracks as “U Can’t Touch This” and “2 Legit 2 Quit” made the Oakland-born rapper born Stanley Burrell a certified millionaire. And you couldn’t go anywhere without seeing something branded with his name. From cartoons to commercials, MC Hammer was ubiquitous. Unfortunately, it didn’t last forever. While he reportedly made close to $70 million at the height of his career, it took less than five years for the rapper to ultimately file for bankruptcy. Fortunately, though, MC Hammer turned it into a testimony. After a short career as a minister, he began rebranding himself as a tech investor and insider. He’s invested in several startups and serves as a consultant for places like Salesforce and Twitter. And in the process, he’s amassed an impressive net worth of $2 million, per Celebrity Net Worth. Let’s take a look at how he went from riches to rags, and...
Mar 30, 2022
Although MC Hammer may not be a household name in music anymore, those in the tech industry remain very familiar. After exiting the rap game, MC Hammer, real name Stanley Kirk Burrell, set his eyes on Silicon Valley. Hammer began founding and investing in tech companies in the mid-90s. The rapper/dancer/actor has reportedly invested in over a dozen tech startups over time, including Twitter and YouTube. During a recent sit down with mogul Damon Dash, rapper and fellow tech investor Chamillionaire revealed a discussion he had with MC Hammer, making the shocking revelation that Hammer “owns a piece of Twitter.” According to Chamillionaire, he ran into MC Hammer at a tech conference at Facebook’s headquarters. There, he had a four-hour conversation with Hammer who was frustrated with giving rappers investment advice they never took. “He was basically saying, and I understand he was frustrated,” Chamillionaire tells Dash. “He was like, ‘I give the game about these tech companies to all...
Feb 13, 2020