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Russell Simmons Net Worth

Russell Simmons

Russell Simmons Net Worth : $340 Million

Profile

An American Businessman

Nationality

USA

Source of Wealth

Business

Years of Experience

28

Date of Birth

October 4, 1957

Education

Graduated from City College of New York

Marital Status

Divorced

Children

2

Russell Simmons’ Income & Total Net Worth

An American business tycoon, Russell Wendell Simmons has an approximated net worth of $340 million. He is well-known businessman in the history of rap music. In the world of hip-hop, Russell is one of the richest entrepreneurs. He is a man with diverse interests. He is an editor-in-chief of hip-hop reviewing site, GlobalGrind.com. He also regularly posts his articles on Huffington Post.

Business Investments

Russell is also a founder of famous fashion lines Phat Farm, Argyleculture and American Classic. He, along with Rick Rubin, established Def Jam, a hip-hop recording company. “Rock Hard” by Beasty Boys and “I Need a Beet” by LL Cool, recorded under the Def Jam Recordings label, became a great success. Their sale added to the net worth of Russell Simmons. But, in 1996, he sold the shares of the recording company.

Later, Russell set up Rush Communications, Inc., which included a clothing company ‘Phat Farm’, a magazine, advertising agency, TV show Def Comedy Jam, film production house and a management firm. He also possesses the shares of website Global Grind.

Russell has also commenced his own soft drink, DefCon3. It is sold by 7Eleven. He also launched the Rush Card, a pre-paid debit card, which offers an alternate to the pricey check-cashing agencies. It was beneficial for the individuals not having bank account.

Properties: Private Fortune

He has a huge 7,175 square feet house in lower Manhattan, which is equipped with two floors, a rooftop terrace, five bedrooms, and four and a half bathrooms. Other attractive features of the house are a huge living room, hardwood floors, a library, floor-to-ceiling windows, multiple walk-in wardrobes, an eat-in kitchen, a private elevator, a gas fireplace, 12-footceilings, and a cavern. However, this abode is on the market for $11 million.

Russell Simmons’ Career

Simmon is the owner and founder of three clothing lines: Phat Farm, Argyleculture and American Classic. In the last few couples of years, he has changed his focus from records to literary pursuits and political commentary.

Philanthropy

Russell is strictly adhered to Ahimsa and vegan lifestyle. In 2002, he was appointed as the Chairman of Board of the Foundation for Ethnic Understanding. To honour the victims of slavery, Ban Ki-moon made him Goodwill Ambassador for the UN Slavery Memorial. He also supports gay rights, and encourages marriage equality.  In 1995, he began The Rush Philanthropic Arts Foundation with an aim to provide an access to arts to the disadvantaged youths.

Awards

He was honoured with the 2001 PETA Humanitarian Award by People for the Ethical Treatment of Animals.