MC Hammer was the first rapper to go mainstream. His 1990s concerts were extravaganzas like no other performances at the time. However, Hammer quickly went broke. He employed over 200 people, paying out a staggering $500,000 a month in salaries alone. He purchased a $40 million mansion and became involved in thoroughbred racing, a very costly hobby. This led to his bankruptcy filing in 1997. Hammer quit music and became a pastor and tech consultant.