Russell Simmons Net Worth : $350 Million
An American Businessman
Source of Wealth
Years of Experience
Date of Birth
October 4, 1957
Graduated from City College of New York
Russell Simmons’ Income & Total Net Worth
An American business tycoon, Russell Wendell Simmons has an approximated net worth of $350 million. He is a 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. He also regularly posts his articles on Huffington Post.
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 Beat” 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 alternative to the pricey check-cashing agencies. It was beneficial for the individuals not having a 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-foot ceilings, and a cavern. However, this abode is on the market for $11 million. He owned another mansion with his ex-wife Kimora Lee Simmons in New Jersey, which the couple decided to sell after their high profile controversial divorce.
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.
Russell strictly adheres to Ahimsa and vegan lifestyle. In 2002, he was appointed as the Chairman of Board of the Foundation for Ethnic Understanding. To honor the victims of slavery, Ban Ki-moon made him a 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.
He was honored with the 2001 PETA Humanitarian Award by People for the Ethical Treatment of Animals.