Russell Simmons is an American business magnate with an estimated net worth of $325 million. He is most-famous for co-founding the hip-hop music label Def Jam.
Russell Wendell Simmons was born on October 4, 1957 in Queens, New York. Simmons’s father is a public school administrator, and his mother, a New York City park administrator. His brothers are Daniel Simmons, and Joseph Simmons a.k.a. Rev Run of Run DMC. Simmons graduated high school in 1975 and briefly attended the City College of New York in Harlem.
Simmons had a knack for business and ended up co-founding Def Jam records with NYU student Rick Rubin in 1983. Rubin and Simmons are largely responsible for revolutionizing the world of hip-hop. Their first major artists were LL Cool J and The Beastie Boys. The success of the label was unmatched. Eventually, Rubin would sell his share of the company to Universal Music Group for $100 million in 1996. Today, the company distributes various record labels including Roc-A-Fella Records, Kanye West’s GOOD Music, Ludacris’ Disturbing the Peace, and No ID’s Artium Recordings.
Simmons, for creating Def Jam, would grow to become one of the world’s wealthiest entrepreneurs in the world of hip-hop. However, his business interests extend beyond hip-hop. Simmons’ company Rush Communications, Inc. not only includes his share of Def Jam, it also includes Phat Farm, Argyleculture, American Classics, a movie production house, television shows such as HBO’s Def Comedy Jam, a magazine, and an advertising agency.
In 2006, Simmons co-founded the internet start-up 360 Hip-Hop which he later sold to BET. He is also the majority shareholder of the website Global Grind, a website that reviews the world of hip-hop. In 2007, Simmons authored a book with Chris Morrow entitled Do You – 12 Laws to Access the Power in You to Achieve Happiness and Success. The book is a reflection of Simmons practicing on Transcendental Meditation. He also contributes articles to The Huffington Post. Simmons was also the star of the 2010 reality TV Show Running Russell Simmons.
Simmons has become one of the most influential people in the world of hip-hop. He is also an active philanthropist and spokesman for human rights. Simmons became the spokesman for the Foundation of Ethnic Understanding in 2002. He’s an activist for gay rights and also has been a vegan since 1998. He’s an advocate of animal rights and has been awarded by PETA for his efforts.
Simmons was married to Kimora Lee for 10 years. They have two daughters, but separated in 2006 after eight years of marriage. The divorce was finalized in January of 2009. At the time, Simmons lived in a mega mansion in Saddle River, New Jersey that spanned 35,000 square feet and was valued over $30 million dollars.
Overall, Simmons is one of the most successful figures in the history of hip-hop who isn’t a musician. The growth of his business ventures allowed him grow his net worth to $325 million. With Simmons you never know what the next move is going to be so don’t expect that number to remain static for too long. The man just has a knack for business.
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