What is Net Worth? Uses of Net Worth
Net Worth is the combination of two words (Net Worth) that carry equally meaning. It is mostly referred to as financial assets. Nut Net Worth is about financial or Non-Financial assets that are owned by an individual or by a company or firm. Mostly this word is used for most famous persons like singers, politicians, businessmen and many more.
But the main purpose of this statement is to collecting, analyzing and summarizing assets that are owned by one person or company. It is also for annual balance sheets and income statement preparation. So it plays an important role in legal documents. Additionally, it is also shown that how much a person is rich? It includes all assets like houses, cars and bank balances.
It is also used to show the assets and liabilities of a person. It also helps the government to record the data about national wealth. It also controls the illegal activities of wealth in the country. Every famous person is responsible to submit it every year to the government for his records monitoring. It also helps to make the tax ratio according to people’s wealth power. It shows the nation’s wealth correctly. So it can be said that Net Worth is an important document or statement which helps the peoples and government institution to maintain wealth in the country.
MC Hammer Net Worth: $1.5 million
MC Hammer is an American rapper, lyricist record producer, dancer and actor. He is a well talented and very handsome rapper. His is also known as Stanley Kirk Burrell but mostly known as his stage name that is MC Hammer. He was born on March 30, 1963. His hometown is Oakland California, United States. MC is about 56 years.
MC Hammer’s father, Lewis Burrell, worked as a warehouse supervisor and his mother was a secretary in the USA. MC Hammer also performed in clubs and on roads in his starting career. He is not just famous in the Hollywood industry but also in all industries of music and rap. His first album ‘Please Hammer Don’t Hurt ‘Em,’ was super selling an album of all the time.
He was not a celebrity but in 1980 he got very success and reputation even though he was the top hot rapper on US Billboard. He had recorded the unlimited song but some of the popular songs are Pumps and Bump, Pray, Turn this Mutha out and, much more. He is also believed as a record producer in the world of rap and music.
MC Hammer Early Life
MC Hammer got his early education in McClymonds High School from his home town California, United States. He was the most junior of his 6 siblings and were in a government housing project home in East Oakland. He is also Preacher, Entrepreneur, Actor, Musician, Songwriter, Rapper, Singer, Choreographer, Dancer, Entertainer as professional.
As he was interested in music and rap so he started songwriting in his childhood and start performing in many clubs that have his hard time but now he is a celebrity all over the world. As he was not well educated but he is a celebrity.
MC Hammer Personal Life
He also has a personal life like other celebrities behind his character. He is a married celebrity and lived a beautiful life with his family. He married Stephanie Fuller in 1985. His height is 5 ft 11 inches. His eyes are black and hair colour is also black. He liked drinking and night parties.
MC Hammer Wealth and Net Worth
Hammer’s peak earning year was 1991 when he bought home more than $1.5 million US dollars. Notwithstanding these mega earning years, Hammer was able to wrack up $14 million worth of money forcing him to file for bankruptcy in 1996. Hammer spent his money on dozens of luxury sports cars, aeroplanes, a record company and a 12 acre home in Fremont, California.
He spent $30 million US dollars building the home from scar in the hills above the rough neighbourhood where he got up. As of December 2013, Hammer, however, owes the IRS $800,000 in back taxes and fines related to income from 1996 and 1997. According to recently issued legal documents, every dollar that Hammer earns to this day must first go to the IRS before being dealt with him.
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