These days, MC Hammer is as famous for his financial woes as he was once was for his music and his poofy, poofy pants. The story of how MC Hammer went bankrupt borders on the unbelievable; to describe his spending as excessive is a gross understatement. His tale is a cautionary one for anyone who makes a mindbogglingly large amount of money in an astonishingly brief period of time. Admittedly, that's probably not many of us, but we can all take away one valuable lesson from the chain of events that led to MC Hammer losing all his money: smart money management is important, whether you make $50,000 a year or $50 million.
To Hammer's credit, he seems to have made at least a few trivial attempts to right his financial mistakes. He's also become a pastor and has given many interviews during which he talks about the evils of money and how it was his only priority during the height of his fame. So, for those of you wondering what happened to MC Hammer, he's alive and well, but his wallet is lighter - a lot lighter - than it once was.