Updated: Wed, 13 Feb 2013 13:00:00 GMT | By Damian Clarkson, Senior editor, MSN Money
Martine McCutcheon and the celebrities who went bust

MC Hammer



Bankrupt celebs, including MC Hammer (© Image: NBCUPHOTOBANK - Rex Features)
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  • Stars who filed for bankruptcy, including Burt Reynolds (© Image © Rex Features)
  • Stars who filed for bankruptcy, including Clarissa Dickson Wright (© Image © Rex Features)
  • Stars who filed for bankruptcy, including Gary Glitter (© Image © Rex Features)
  • Bankrupt celebs, including MC Hammer (© Image: NBCUPHOTOBANK - Rex Features)
  • Stars who filed for bankruptcy, including Jonathan Aitken (© Image © Rex Features)
  • Stars who filed for bankruptcy, including Michael Barrymore (© Image © Rex Features)
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In the early 90s, MC Hammer was the proud owner of a number one album, his own cartoon series and the most outrageous trousers in showbiz.

By April 1996, however, the rapper had to file for bankruptcy with more than $13 million in debt. Where did all the money go? A number of racehorses, his own cinema and bowling alley on his property no doubt contributed to the problem.

261Comments
02/02/2012 17:42
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No sympathy for her or any of the other cases you highlight.  You generally reap what you sow in this life and if you are so stupid as to earn loads of money and spend it all on an extravagant lifestyle in a world full of hangers on and freeloaders, with no thought for saving any of it and investing wisely for the future, then you get what you deserve. Never cheat the taxman, he'll always catch up with you.
16/02/2012 00:51
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I agree with choviani, the vulgarity of the wealth of some is abhorrent. When millions of people are starving and riddled with disease, when parents have to organise charity events just to send their a child for an operation to save their life as they have no money and the NHS wont / or cant do it. I read somewhere that 98% of the worlds wealth is owned by only 2% of the worlds population. it's a sick warped world when you really think about it,. It's sickening that the top end earners in finance and sport have clauses in their contracts that state no one can come into the company/football club and earn more than they do;" LOL" what the hell is that about? arrogant greedy ???????  How many yachts, cars, villas, islands, homes, aeroplanes etc do they need? I don't know; but I think there are a few million kids who would really appreciate a bowl of rice every now and again.
02/02/2012 19:12
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The bigger story "Jonny MSN" is that decent folk are completely skint and struggling unlike the bankers and our "beloved" MP's on  both sides of the house. I lost my job because of the thieving treachery of the last govt and the self serving treachery of our present govt. These people at the top have treated the common man with absolute contempt for too long, its time for a shift in power - from the haves to the have nots!!!!

What riles me just as much is the false idol worship we give to useless prats, ie those our media calls "Celebrities". We as a nation have worshipped too long at the alter of celebrity. Just seeing the trailer for the National Television Awards makes me want to vomit, why the hell should we applaud people who can act or sing and even some who can't act or sing. What about giving our £1.50 per text vote money to our local homeless shelter or our £1.00 a minute telephone vote money to the person who wants to establish a worthy charity that benefits those affected by child abuse or domestic violence etc...

Sick to death of this fluffy candyfloss hero worship of deluded idiots who believe getting a boob job is something to be proud of. From now on I refuse to speak to anyone who buys Jordans latest perfume or turns up at Peter andres next book signing blah blah blah

As for idiotic tv presenters who squander there wealth, I DON'T GIVE A TOSS !!!!!

 

02/02/2012 18:27
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So... judging by the comments below - which any sane person should totally agree with - what I cannot understand is the menatlity of anyone giving it a thumbs down? What thought process leads you to believe that you should have even a grain of sympathy for these people?

 

Hmm.. I have lots of money - if I spend it (and indeed by extension spend beyond my means) - than A) it will be all gone B) I will be in debt   .... logic would dictate then you should be a little thoughtful about what you spend. And frankly, I'm sorry, but a television personality adds little or no value to my life. My missus is a cardiac nurse, she brings people back from the brink of death on a regular basis, cleans sh1t everyday etc - these people should be paid the millions for the miracles they perform everyday. What a backward world.

02/02/2012 17:50
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No sympathy. If you want to live in this world - you pay your way!
17/02/2012 06:10
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i dont understand why tv company want to give kerry katona money .all she has going 4 her is big boobs .she is well passed her sell by date
02/02/2012 23:07
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we all have bills/tax to pay, so why should they be any different?, the fact that they are rich and have lost touch with reality is probably something to do with it.  Do they think they are untouchable, immune to paying bills perhaps? I owed the taxman £100 once and oh boy did he make sure he took it back!! serves em right i say.
02/02/2012 23:56
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I really feel sorry for selfish people who are paid vast amounts for very little work. They really don’t know the meaning of work. To crawl along a track stretching under the dash of the latest car fitting fibre optics, my knees never recovered. You just prey for the end of each back breaking ten hour shift. At the end of each week you open your pay packet to find a large part gone in stoppages, and you look in the mirror to see if you have the word ‘Mug’ across your forehead.

These ‘celebrities’ are treated as responsible people and are trusted to put away part of their income to pay their way, why? Everyone should be on P.A.Y.E. or everyone should be ‘trusted’ and pay the income tax when they feel like it.

It’s not fair to have two systems of ‘income’ taxation, it‘s a millionaires charter. People will spend the money, go bankrupt, and won’t give a sh1t about the rest.

Pay As You Earn for all, and before anyone says it can’t be done, they manage it with VAT.

02/02/2012 19:28
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give it a year and she will be writing a book,

 and guess what, we will buy it and pay off her tax bill,

and who will be laughing,Open-mouthed

she will

 at all the little people

 that's us  

Confused

14/06/2012 20:06
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Bankrupt. Tell us another one.

Going bankrupt does not mean your broke, I know a number of people and companies that have gone bankrupt and the owners start another high flying business within six months.

I bet he is not living in a two up two down house on a council estate.....

 

Having the debt written off is a great feeling, is it not.

02/02/2012 17:55
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Two things you can't avoid in this life. Death and Taxes...
02/02/2012 18:34
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Idiots the lot of them, if they can't pay there taxes like everyone else, especially with the incomes they get then sod them, they deserve no sympathy............​..............
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Yes well I don't think to many people will be crying over Gary Glitter going Bankrupt He's a dirty Pedo
16/02/2012 13:31
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they just needed better friends, and managers. and things might have been much better for them. 

 

not inc Gary Glitter.  he should have died years ago in prison. the c..u..n..*

14/06/2012 21:04
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Shane hasnt gone bust, his COMPANY has gone bust, and trust me with all those financial people behind him he will still come out on top, has he lost his mansion NO that will be in his wifes name, has he put his name on the local housing list NO, he was trying to make loads more on top of what he already had, er I think its called being greedy. He will still have his luxury holidays, very expensive Xmas's, his wife and kids will not suffer, and just look at the earnings for a few tour dates, not bad, Am I glad i never bought another ticket to go and see them to swell his pockets even more.

Let this be a lesson

15/02/2012 05:52
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to all celebrities who are being filed for bankruptcy its your own fault ! You have been blessed with all this money and you go and blow it ? Where does it all go ? Its your own fault nobody elses !
02/02/2012 20:48
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What gets forgotten with all these 'celebs' going bankrupt is the people who never got paid for services provided.  I don't fret over the Tax man and other preferred creditors, but there are lots of self employed people and small businesses who suffer, often themselves going bankrupt. 

The plumber, electrician, gardener and many others finish up having to pay for the greed of these people.  In a fair society the small businesses should be paid first rather than the banks and Tax man. 

02/02/2012 23:02
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The many times I tuned in to Miss Oliver's TV interviews, she was always making sly, 'giggly-girl' fun of guests and artists.  I always felt her humour was nasty and making fun.  What goes around comes around.  Welcome to Ordinary Street.
02/02/2012 18:36
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in this life its all wrong all the sh-- jobs get sh-- pay my heart goes out to all the hard working people that have low income but as they say keep your chin up Smile
14/06/2012 13:37
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Why not stay in Ireland..... Oh I see .... You all love Home when it suits but like every other bloddy leech, move to England for refuge. I moved here to make a Home here. Not to Bloodsuck.
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