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Why Zillow’s CEO is wearing MC Hammer pants today

Zillow CEO Spencer Marc RascoffZillow CEO Spencer Marc Rascoff
Zillow CEO Spencer Rascoff.Bloomberg Bloomberg via Getty Images

Zillow (Z) CEO Spencer Rascoff tweeted a picture of himself wearing MC Hammer pants on Wall Street this morning. It was posted after Rascoff helped ring the opening bell at the Nasdaq Market Site in Times Square.

In the tweet he writes that he was fulfilling a promise he made to his employees. He does not share any details on what exactly the promise was, but presumably it involved wearing gold MC Hammer-style slacks.

This is reminiscent of a stunt that Walmart (WMT) founder Sam Walton pulled on Wall Street over 30 years ago.

According to a Walmart blog post, Walton disagreed with David Glass, the company’s CFO at the time, that the company could reach an 8% pretax profit. He promised that if it did, he would do the hula on Wall Street, grass skirt and all.

The company exceeded that goal, and Walton celebrated by doing the hula.