47. MC Hammer

'You Can't Touch This,' was what MC Hammer rapped in his most famous song, and may also have been what he said to debt enforcement officers looking around his home and surveying his goods for auction. With his catchy song and his baggy trousers, Hammer was briefly a pop culture star in the early 1990s, and even had his own children's cartoon. He made $20m in a single year - which was enormous money for a musician back then - and decided he was made for life. He bought a mansion, employed 200 staff, and spent big on seventeen luxury cars. It was unsustainable.

From a peak position of being $20m in the black, Hammer slipped to just under $10m in the red, and found himself slapped with a lawsuit based on a copyright claim against his music. Hammer filed for bankruptcy in 1996, but found God at his lowest point. He now lives a quiet life as a preacher.

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