2. MC Hammer
The former hip-hop sensation MC Hammer was always just a little too much to handle. And no, this is not about his choice of clothes. This is about the extravagant lifestyle which made this millionaire completely broke.
Ten years before the famous TV series, MC Hammer had his own entourage. Only, his entourage included around 200 people which cost him half a million USD every month! And the funny thing is that the rapper didn’t even know what most of them were supposed to do anyway!
We don’t know if MC Hammer made his business decisions on his own or if he paid someone to do it for him, but those decisions were just plain stupid.
He purchased a villa for 30 million dollars, a staggering amount at the time, only to sell it five times cheaper after the bankruptcy. The other business idea he put money into wasn’t so dumb, or at least it seems like it from this perspective. MC Hammer tried taking on IT giants Google and Microsoft by creating a brand new search engine – WireDoo. Even though it still exists (although put on hold), this project was just another financial failure for this former rapper.
But, even if MC Hammer never recovers from bankruptcy, he will still be able to tell the stories to his grandchildren about the time their grandfather owned race horses, luxury sports cars and an enormous mansion for him and his entourage.