The business mogul Russell Simmons’ net worth comes from his position as an American record executive and entrepreneur. He is quite an influential figure in the music industry.
Mostly, Russell Simmons’ net worth comes from the leading record label Def Jam Records which he co-founded. He even was the CEO of Rush Communications, Inc. However, in recent years, he has been accused of serious sexual misconduct allegations.
This hampered his reputation which in turn led to him stepping down from multiple companies. Russell Simmons’ net worth was also affected after his reputation was in question. Today, Russell Simmons net worth is still huge, but how did he make it happen?
Russell Simmons’ Early Life
In Queens borough of New York, Russell Simmons was born on 4th October 1957. His father worked as a public-school administrator whereas his mother was a parks administrator.
Young Russell was raised in Maryland in a neighborhood where drug use was extreme. With thinking about ways to Russell Simmons’ net worth, he soon got directly linked to a criminal lifestyle. Russell was trading drugs and became a member of gang culture but soon he realized his mistake.
He quickly got admitted to City College of New York in Harlem. There he studied sociology and built a connection with the OG pioneers of the hip-hop movement such as Kurt Walker, Eddie Cheeba, and more.
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Russell Simmons’ Career
With putting Russell Simmons’ net worth at the top of his list of priorities, Simmons launched the first single with Kurt Walker, “Christman Rappin”. He managed to strike a deal after negotiating a deal through the popular label, Blow.
Joseph, Simmons’ brother joined the hip-hop movement. With his two friends, Joseph started a group and Russell produced multiple tracks for them. After signing the band to a record deal, Russell Simmons launched Def Jam Records with Rick Rubin.
Russell Simmons net worth was set as he became an equal partner on the board. 16-year-old LL Cool J made his first release under this label and that made Def Jam Records famous. The major success came with “Licensed to III ” by The Beastie Boys was dropped under Def Jam Records and became a massive hit. But in 1988, Rick Rubin exited the label, and Simmons sold half of Def Jam Records to Polygram. But the influence of Russell over the hip-hop community was much before his label.
He launched “Simmons Lathan’s Media Group ” which is a production company and was the creator of shows such as “The Def Comedy Jam”. He is also the founder of Rush Communications, Inc. and has 10 businesses and 3 more non-profit organizations. It was Rush Communications that acted as the co-producer of the classic Eddie Murphy film, “The Nutty Professor”.
The multiple business investments increased Russell Simmons’ net worth. He founded three successful clothing lines such as Tantris, Phat Farm, and ArgyleCulture. Simmons is also the founder of Unirsuh LLC. Over the years, Russell Simmons’ net worth came through multiple businesses in many industries like websites, book publishing, and even energy drink companies. He even released self-help books like “12 Laws to Access the Power in You to Achieve Happiness and Success,” “Do You!” and “The Happy Vegan: A Guide to Living a Long, Healthy and Successful Life”.
Russell Simmons’ Personal Life
In 1998, Kimora Lee and Russell Simmons got married. After having two daughters, the couple got divorced in 2008.
But Russell Simmons net worth couldn’t save him from his wrongdoings. The internet exploded when model Keri Claussen Khalighi accused the business mogul of raping her in the year of 1991. The news broke out in 2017. After charges were proven, he was dropped from major companies like HBO.
Many women came out to accuse him of his sexual conduct. To be precise, as many as 13 women finally came out to charge the businessman. However, Russell didn’t agree to any allegations and shifted to Bali after selling his assets.
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Russell Simmons’ Net Worth
Russell Simmons’ net worth is now standing at $340 million. He still has shares in multiple companies that earn him quite a fortune every year. The latest details about Russell Simmons’ net worth are hidden from the public.
Stay tuned to our website for more updates, Lee Daily.