Russell Simmons Net Worth

Net Worth: $340 Million

  • Full name: Russell Wendell Simmons
  • Birth: (10/04/1957)
  • Place of birth: Queens, New York
  • Occupation: business man, record label owner,
    and fashion brand owner.
  • Marital status: divorced

Russell Simmons net worth history

It seems that Russell Simmons is a man that knows how to make money, and a great deal of it too. He has proved to be a really astute business man and he knows how to generate money by selling records as well. His brother happens to be Rev Run of Run DMC fame so the Simmons family did more than most to promote hip hop music and to make it one of the most popular music genres in the world.

Russell Simmons was so convinced that hip hop music would be a major success that he was a co founder of Def Jam Records. Simmons became aware of hip hop as early as 1975 when nobody would have predicted its future popularity or indeed how many millions of records that it would sell. He was introduced to the genre by Kurt Walker, who was young up and coming DJ at that time.

Def Jam is the foundation stone of Russell Simmons’ net worth. He co founded this almost legendary record label with famed record producer Rick Rubin back in 1983. Def Jam not only signed hip hop acts it signed alternative and thrash metal acts too. The fact that Rick Rubin sold his share of Def Jam for $2 billion to Universal Music Group in 1996 demonstrates how successful the company has been. Should Simmons sell his share in Def Jam he would certainly be able to retire over night.

Russell Simmons has also made money from the fashion brands that he established, namely Phat Farm, American Classic, and also Argyleculture. The sales from these stores have made a large contribution to his net worth over the years.

Simmons has tried other business enterprises and the majority of them have been successful, and some of which he sold on for a tidy profit. For example he set up his own internet company Hip Hop 360, that he later sold on to BET.

He written several books either on his own or with co authors on a variety of subjects including self help, meditation, success through meditation, and the virtues of a vegan lifestyle. Simmons is a firm believer in people that are rich should give money to those people that need it, and do other things to support local communities.

Simmons regards music as been important for helping people to make a better life for themselves.

About Russell Simmons

Surprisingly with having such a hectic business life Simmons does have enough time to have a family life. In 1998 he married a young model, Kimora Lee Simmons, and the couple had two daughters together, Aoki Lee Simmons and Ming Lee Simmons. They got divorced in 2006, and he has not remarried since then.

Besides having one brother been a member of Run DMC, his other brother Daniel Simmons Jr is a painter of some renown.