Categories: Mind & Soul

50 Weird Ways People Go Broke

39. Hiring the Neighborhood

Rapper MC Hammer reportedly earned $33 million after the success of his 1990 album “Please Hammer, Don’t Hurt ‘Em,” according to Time. But, he filed for Chapter 11 bankruptcy in 1996.

On the “Opie & Anthony Show,” MC Hammer said he went through the money “giving back to the community.” He was paying 200 employees. It was the crack era, violence was rampant and death was a regular thing in his neighborhood. So, he said he took people out of his community and gave them jobs. Unfortunately, the strategy was ultimately unsustainable.

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