Russell Simmons (born October 4, 1957 in Queens, New York), is
an American entrepreneur and activist. Simmons was the co-founder
of the pioneering hip-hop label Def Jam, a founder of Russell
Simmons Music Group, and the creator of the clothing fashion line
Phat Farm and the fragrance label Atman. Russell Simmons is the
third richest hip hop entrepreneur, having a net-worth estimate of
$340 million. He is only behind Jay-Z at $547M, and P Diddy at
$358M. Simmons attended City College of New York but left his
studies to promote local rap music acts, including Kurtis Blow and
Run-DMC, and produce records.
In 1984, he met New York University student Rick Rubin and
together they founded Def Jam Records, signing the Beastie Boys, LL
Cool J, Public Enemy, Run-DMC and other acts. Def Jam became just
one piece in Simmons' corporation, Rush Communications, 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. Simmons sold his stake in
the record company for $100 million to Universal Music Group in
1999.
