MC Hammer made roughly $33 million in two years at his peak. By 1996 he owed $13.7 million and filed for bankruptcy.
In the video below, he explains where the money went.
He said everybody knew he had 200 employees. It was not a secret. Somebody had to pay that payroll. It was not hamburgers.
He said he was calling home from the road and finding out people he grew up with were dead. Neighbors. Classmates. He started bringing them out on tour and putting them on salary so they would stop killing each other.
He said the amount of money he was generating was worth the lives to him. Ten thousand turned to twenty. Twenty turned to thirty. He was fine with that.
He said if he had to do it over again, people would tell him to keep some of the money. He said he would not trade the lives for the cash.
The payroll stayed. The money did not.
Gents, take notes 📝 notice how they didn’t flinch when she asked them the gf allowance question? 😭😭😭🤝
Majita, Why is it so hard to give your women an allowance? 🥲
TOP 10 BUSINESSES USED 4 MONEY LAUNDERERING IN SOUTH AFRICA ‼️‼️‼️
1. Real Estates/ Agencies
2. Livestock Farming
3. Professional Soccer/ Rugby Clubs
4. Car Dealers
5. Legal Practices & Trust Accounts
6. Tender Fronting
7. Scrap Metal & Gold
8. Gambling
9. Night Clubs
10. Taxis
If you make R100,000 a month gross, taxes and deductions chop it down fast. By the time PAYE, medical aid, provident fund, and UIF take their share, you take home around R55,000 to R60,000.
If people earning R100k feel the pinch of the high cost of living, imagine how hard life is for anyone earning under R10,000. There is zero room to breathe.