Friday, December 11, 2009
How is MC Hammer and Walt Disney related?
by Jameel Murray
Although many people believe that celebrities are rich and full of money, there are fair shares of celebrities who have filed for bankruptcy. Besides the recent news of Nicholas Cage and NBA star Antoine Walker, the public is oblivious to famous people who have filed for bankruptcy. One celebrity who should be the poster boy for bankruptcy is Mc Hammer. In 1996, Hammer owed $10 million to creditors and filed for bankruptcy. Since his bankruptcy claim, Hammer has become an entrepreneur in an attempt to reclaim success. Another bankruptcy that people never can recall was the bankruptcy of Walt Disney. In 1921, Disney began a company called laugh-o-gram, which would eventually cause him to file for bankruptcy. After his bankruptcy, Disney moved to Hollywood and became the most celebrated animator ever. Although bankruptcy can be a financial standstill in one’s life, it also teaches to be more careful with finances and can inspire one to pursue great ventures such as Walt Disney and MC Hammer.