Russell Simmons is one of the biggest promoters of music and highly successful business magnates of our time. His label, Def Jam, launched the hip-hop genre. Simmons has a net worth of 340 million dollars, making him the third wealthiest hip-hop personality.
Simmons was born in Queens, New York, on the 4th of October 1957. In New York, he attended City College, but soon left to promote local musicians like Run-D.M.C. and Kurtis Blow. Together with Rick Rubin, he founded Def Jams Recordings. The result was a cultural revolution known as ‘hip hop’. The studio signed early artists of this genre, such as Public Enemy, LL Cool J, and the Beastie Boys.
The Def Jam deal was just the beginning of Simons’ much larger hip hop empire, which he described as highly ambitious. As part of Rush Communications, Inc., he runs a clothing company named Phat Farm, manages an advertisement company, runs a magazine, produces films and even hosts Def Comedy Jam. His film production company produced films like ‘The Nutty Professor’ and ‘Krush Grove’. Simmons used the company as the foundation for his business ventures. His business partner Rubin sold his shares of Universal Music Group in 1996 for $100 million. He sold Phat Farm for 140 million dollars in 1996.
Russell Simmons is an entrepreneur, producer and author. The Chairman and CEO of Rush Communications, Simmons cofounded the music label Def Jam Recordings and also created the fashion lines Phat Farm, Argyleculture, and Tantris.
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