Net Worth

Russell Simmons Net Worth

Updated January 2, 2020
3 min read

How much is Russell Simmons worth? $340 Million

How did Russell Simmons earn his money and wealth?

Russell Simmons, real name Russell Wendall Simmons, was born on 4 October 1957 in New York, US to parents Daniel Simmons Sr. and Evelyn Simmons. His father Daniel worked as a public school administrator while his mother Evelyn worked as a park administrator. He has two brothers, painter Daniel Simmons Jr. and Rev Run of Run-DMC. Russell went to the City College of New York for a brief period as he took a drop and went to promote the local musicians such as Kurtis Blow and Run-DMC. When Russell Saw Eddie Cheeba perform in Harlem in the year 1977, he realized that hip-hop would be his career.

Russell Simmons is not only an American entrepreneur but also a record producer as well as an author. In the year 1983, Russell entered into a partnership with Rick Rubin and created the record label called ‘Def Jam’ and soon started to release hip-hop singles of numerous music artists. In the year 1984, the label released the hip-hop single ‘I Need a Beat’ by American rapper LL Cool J and the single ‘Rock Hard’ by American band ‘Beastie Boys.’ Russell produced a feature movie called ‘Krush Groove’ in the year 198 that was directed by Michael Schultz. The movie was based on the early days of the record label ‘Def Jam.’ Later in the year 1986, ‘Def Jam’ was in search of new talents and the label started to venture out into the mainstream. The record label stood at the top position on music charts with the hit releases such as ‘Licensed to Ill’ and the ‘Raising Hell.’

Russell worked with more new music talents in the year 1988 which made his record label one of the most popular and successful hip-hop labels of the time. The same year, Rick left the company. Spreading out into other ventures, Russell founded ‘Phat Farm’ in the year 1992 which was a line of cloth for men that catered to the contemporary demands. Soon, the label launched its children clothing as well called ‘Baby Phat.’

Later in the year 1996, Russell produced the comedy movie called ‘The Nutty Professor’ that starred Eddie Murphy. The movie went on to be a hit and earned positive reviews. The Universal Music Group purchased a share of ‘Def Jam’ in the year 1999 worth $100 million. Post the deal, the music group collaborated with Island Records in order to form The Island Def Jam Music Group.

Russell produced the HBO TV series called ‘Def Poetry’ in 2002 which starred performances of well-known poets and gave a platform to new and young talents in the poetry field. He has also released a book ‘Super Rich: A Guide to Having It A’ in 2011 which was a blend of street smartness and spiritual wisdom.

What are the highest grossing earnings of Russell Simmons?

  1. Sale of the clothing and lifestyle lines with Phat Farm (2004): $140,000,000
  2. Box office sales of the movie Tougher Than Leather as producer (1988): $3,580,000
  3. Sale of the documentary video How to Make Money Selling Drugs (2014): $119,460
  4. Box office sales of the movie The Hip Hop Project (2007): $46,210
  5. Box office sales of the documentary film How to Make Money Selling Drugs (2013): $19,190

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