Celebrities who Lost It All #9 MC Hammer
Mc Hammer became famous in the 1990s and earned around $30 million during the peak of his music carrer. Unfortunately, his music career has been outweight buy his terrible sense of business. Even though he was worth $30 million he was spending far more on his expensive lifestyle, he was reportedly paying $500,000 per month for a 200-person entourage.
No wonder he filled bankruptcy in 1996 when he had a debt of §13 million. More than 10 years later, the Internal Revenue Service stated that Hammer still owed them $700,000 in back-taxes. He aswered via Twitter saying that he had already paid all his debts and that he even got a receipt. We all certainly hope so!
