Russell Simmons net worth is estimated to be around $10 million as of 2024. Russell Simmons is an American entrepreneur, writer, and record executive born on October 4, 1957. He co-founded Def Jam Recordings a major hip-hop label and started several fashion brands like Phat Farm, Argyleculture, and Tantris.
He advocates for veganism and yoga and has written books on lifestyle, health, and business. In 2011, his net worth was estimated at $340 million.
Simmons worked with famous artists like Kurtis Blow, Run DMC, and Public Enemy before teaming up with producer Rick Rubin to launch Def Jam Recordings.
As chairman of Def Jam, he signed influential artists such as the Beastie Boys, LL Cool J, Jay-Z, DMX, and Kanye West. He also produced the popular Def Comedy Jam TV show from 1992 to 1997.
In 2017, Simmons faced multiple sexual assault accusations which he denied. As a result, he stepped down from his business and charitable roles including his position at Def Jam.
Russell Simmons in Brief
| Full Name | Russell Wendell Simmons |
| Date of Birth | October 4, 1957 |
| Place of Birth | Queens, New York, USA |
| Occupation | Entrepreneur, Producer, Author, Activist |
| Height | 5 ft 9 in (175 cm) |
| Spouse | Kimora Lee Simmons |
| Children | Ming Lee Simmons and Aoki Lee Simmons |
| Net Worth | $10 million |
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What is Russell Simmons Net Worth in 2024?
Russell Simmons is an American entrepreneur, writer, and record executive with a net worth of $10 Million as of 2024, according to Celebrity Net Worth. The main source of Russell Simmons’s main source of net worth comes from co-founding Def Jam Recordings, a major hip-hop music label, in the 1980s. This company signed and promoted successful artists like LL Cool J, Run-D.M.C., and Public Enemy, making it highly profitable.
Simmons also expanded his wealth through other business ventures, including his fashion lines Phat Farm, Argyleculture, and Tantris, as well as media and financial services companies. His investments in these diverse areas significantly boosted his overall wealth.
Russell Simmons’s Early Life and Education
Russell Wendell Simmons was born on October 4, 1957, in Hollis Queens New York City. His father worked as a public school administrator and his mother was a park administrator for the New York City Parks and Recreation Department. He has two brothers: Daniel Simmons Jr. a painter and Joseph Simmons better known as Rev Run from Run-DMC.
After finishing high school at August Martin in 1975, Simmons briefly attended City College of New York in Harlem. There he met DJ Kurt Walker who inspired him to get involved in hip hop. In 1977 after hearing Eddie Cheeba perform in Harlem Simmons realized hip-hop was his calling saying it felt like he had just seen a groundbreaking invention.
In 1979, Russell Simmons met Robert Ford Jr. who introduced him to the music industry and became his mentor helping him navigate the business.
Russell Simmons’s Career
In 1984, Russell Simmons co-founded Def Jam Recordings with Rick Rubin. Rubin later sold his share to Universal Music Group for $120 million in 1996. Simmons made his film debut in “Krush Groove” in 1985.
His company Rush Communications Inc. spans over ten businesses and three non-profits. Along with partner Stan Lathan Simmons produced TV hits like HBO’s “Def Comedy Jam” and “Def Poetry Jam” and he still has a deal with HBO. He also co-produced the successful films “The Nutty Professor” in 1996 and “How to Be a Player” in 1997. In 2003, Simmons co-founded RushCard a prepaid debit card service.
In 1992, Russell Simmons launched Phat Fashions LLC featuring the Phat Farm and Baby Phat brands. Initially sold in a SoHo store the clothing line gained popularity through Simmons’s connections with rap stars. The line influenced by designers like Ralph Lauren and Tommy Hilfiger expanded to include jewelry perfume and more. Phat Fashions was available in New York and Montreal stores online at www.phatfarm.com and at about 3000 U.S. retailers.
In 2001, Conrad Tillard a former Nation of Islam Minister and “Hip-Hop Minister” criticized Simmons for promoting violent language in rap. Tillard organized a summit to address negative hip-hop imagery prompting Simmons to hold a counter-summit defending the hip-hop community.
In 2004, Russell Simmons sold Phat Farm and Baby Phat to the Kellwood Company for $140 million. That year he also founded Russell Simmons Music Group (RSMG) in partnership with Universal Music’s Island Def Jam Music Group with Tony Austin as president.
Simmons and his brothers established the Rush Philanthropic Arts Foundation in 1995 to support art education for underserved youth and promote access to the arts for people of color. The Foundation serves about 3000 students yearly and features two galleries: the Rush Arts Gallery in Chelsea and the Corridor Gallery in Brooklyn.
In 2014, Russell Simmons received an Honorary Doctorate Degree from Claremont Lincoln University for his work with the Foundation for Ethnic Understanding and his efforts in promoting mindfulness and inter-religious dialogue.
In October 2021, Simmons launched an NFT collection called “Masterminds of Hip Hop” curated by Snoop Dogg highlighting influential figures in the hip-hop industry.
Russell Simmons’s Personal Life
Marriage
Russell Simmons and model Kimora Lee Simmons met in November 1991 when she was 16 and still in high school. They got married on December 20, 1998, in Saint Barthélemy. The couple has two children. However, in March 2006, Simmons announced their split and they finalized their divorce two years later.
Beliefs
Russell Simmons has been a vegan since 1999 and considers himself a Christian yogi who respects all religions. He practices Jivamukti Yoga which promotes vegetarianism and activism for social and environmental causes.
He also practices Transcendental Meditation (TM) and supports the David Lynch Foundation which helps American children learn TM.
Russell Simmons’s Controversy
In August 2013, Russell Simmons released a parody video titled “Harriet Tubman Sex Tape” on his YouTube channel All Def Digital. The video which depicted an actress playing Harriet Tubman engaging in a sexual act with her slave owner was met with widespread outrage. Critics including filmmaker Spike Lee found it offensive and demanded an apology.
Russell Simmons later apologized on his website saying he initially thought the video was a political statement about historical injustice. He expressed regret stating that he would never support violence against women.
Even though the video was removed from All Def Digital it remains available through re-uploaded versions as of June 2024.
Background
In November 2017 model Keri Claussen Khalighi accused Russell Simmons of raping her in 1991 when she was 17. Simmons and Brett Ratner who Khalighi said watched without helping denied the allegations.
As the story gained media attention actor Terry Crews accused Simmons of trying to persuade him to retract his sexual assault claims against film executive Adam Venit.
Later that month, writer Jenny Lumet accused Simmons of raping her in 1991. Simmons stepped down from his business roles and HBO removed his name from their comedy specials.
On December 13, 2017, both the Los Angeles Times and The New York Times reported allegations of sexual misconduct from multiple women including rape. Simmons denied these claims asserting that all his sexual encounters were consensual.
In February 2018 filmmaker Jennifer Jarosik dropped her lawsuit against Simmons which was dismissed with prejudice.
The documentary “On the Record” about the allegations against Simmons premiered at the Sundance Film Festival in January 2020 and was released on HBO Max in May 2020. Oprah Winfrey initially an executive producer withdrew due to concerns about inconsistencies in the allegations though she still supports the women who accused Simmons.
On February 13, 2024, a new lawsuit filed by Jane Doe in New York Federal Court alleged that Simmons sexually assaulted and harassed her in the 1990s while she was working at Def Jam. Two days later former Def Jam executive Drew Dixon who had previously accused Simmons of rape filed a defamation lawsuit against him.
Russell Simmons’s Philanthropy
Russell Simmons is a strong supporter of Ahimsa and veganism emphasizing animal rights as well as environmental and health benefits. He turned vegan after watching “Diet for a New America” in the 1990s and supports Farm Sanctuary which fights against cruelty to farm animals. Simmons received the PETA Humanitarian Award in 2001 and the Person of the Year Award in 2011 for his advocacy.
In 2009, Simmons led a major protest with thousands of people and hip-hop stars in front of City Hall calling for changes to the Rockefeller Drug Laws.
In 2002 he became chairman of the Foundation for Ethnic Understanding. In May 2009 the UN appointed him as a Goodwill Ambassador for the Slavery Memorial to honor victims of slavery. Simmons is also involved with the Somaly Mam Foundation and was honored at their 2011 gala. That same year he supported the Muslim Jewish Conference in Kyiv and participated in the Occupy Wall Street protests.
Simmons has long advocated for gay rights and marriage equality. In 2011, he offered to cover losses for the Learning Channel after Lowe’s withdrew support from All-American Muslims.
In 2012, Simmons backed Ohio Congressman Dennis Kucinich’s re-election campaign and in 2013 supported New York mayoral candidate Bill de Blasio for his animal rights stance.
In 2017, Simmons was ranked 23rd on Richtopia’s list of the 200 Most Influential Social Entrepreneurs and Philanthropists Worldwide.
Russell Simmons Real Estate
In 2012, Russell put his Manhattan penthouse on sale for $11 million. The penthouse was 7,500 square feet. After lowering the price several times, he finally sold it for an unknown amount. Before selling, he was asking for $5.5 million.
In 2013, Russell bought a home in Los Angeles for $5.9 million. He sold this house in August 2018 for $8.125 million.
