Russell Simmons is a business magnate. He and Rick Rubin founded the pioneering hip-hop label Def Jam. He also created the clothing fashion lines Phat Farm, Argyleculture, and American Classics.
Russell Simmons is the third richest figure in hip hop, having a net-worth estimate of $340 million as of April 2011.
Def Jam became just one piece in Simmons’ corporation, Rush Communications, Inc., which included a management company, a clothing company called Phat Farm, a movie production house, television shows such as Def Comedy Jam, a magazine and an advertising agency. Rick Rubin sold his share of the record company for $100 million to Universal Music Group in 1996.
Russell Simmons produced Def Poetry, begun as a television series on HBO, which also branched into a Broadway live stage production in 2002. In 2000, he co-founded the Internet start-up 360 Hip Hop which he later sold to BET. He is also majority shareholder of the website Global Grind.
In 1985 Russell Simmons co-produced and appeared in the film, Krush Groove.
How Russell Simmons Made His Money – Entrepreneur
Estimated Net Worth: $350 Million
Birthday: October 4, 1957
[image via David Shankbone]