Trailblazer. Russell Simmons is a well-known name in the music business, and he started one of the biggest hip-hop groups. Even though the man from Queens, New York, lives out of the spotlight in Bali, he still makes a lot of money. Read on to find out how much money Russell Simmon has and how he makes it.
Russell Simmons Net Worth
Several sources say that the business owner’s net worth is about $350 million as of 2023.
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What Does Russell Simmons Do for a Living?
Russell and Rick Rubin started Def Jam Records in 1984 when they were both still in college. Famous acts and groups like Public Enemy, LL Cool J, Run DMC, and the Beastie Boys have signed with the label.
After his business took off, the man sold his share of Def Jam for $100 million in 1999.
“I’m doing Def Comedy Jam, I was doing Phat Farm, I was doing other stuff,” Russell said during a 2016 Vlad TV interview. “I had smarter people than me working there. Lyor [Cohen] was brilliant. Kevin Liles was great. Mike Kaiser was brilliant. Julie Greenwald was brilliant. I build s–t and then when everybody’s smarter than me I get out of the way.”
Later in the interview, the hip-hop mogul said that he sold his share of the company “at the perfect time” from a financial point of view.
“If we wanted money, we got it when we needed it. After that, everything went down. Then the company blew up, or whatever, but it still went down,” he said. “Look, they offered to buy [Def Jam Records] for $40 million, we laughed at them, and 18 months later we got 115 million or whatever the number was.”
Russell worked outside of Def Jam in the fashion business and ran brands like the ones above. He also appeared on reality TV shows.
Russell was the star of the reality show Running Russell Simmons for one season in 2010. He also made regular appearances on Kimora: Life in the Fab Lane, which was made by his ex-wife Kimora Lee Simmons, and Run’s House, which was made by his brother Joseph Simmons.
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