Russell Simmons is an American entrepreneur. Some consider him to be the king of rap music. Even though he has never been a singer, he has been given many aspiring and upcoming singers opportunities.
He is known to give new people a chance on his dime. He has served as the CEO of major record labels.
In addition, he founded his record label, Def Jam Records. He is regarded as one of the greatest singers of all time. This was due to allegations that he inappropriately harassed numerous women during his tenure as CEO. At least seven women have come forward with allegations of inappropriate harassment against Russell Simmons’ company, but they do not want the attention.
Russell Simmons’s Net Worth
Russell Simmons is a $350 million-dollar-worth American entrepreneur. Some consider him to be the king of rap music. Even though he has never been a singer, he has been given many aspiring and upcoming singers opportunities.
He is known to give new people a chance on his own dime. He has served as the CEO of major record labels. In addition, he founded his own record label, Def Jam Records. He is regarded as one of the greatest singers of all time.
This was due to allegations that he inappropriately harassed numerous women during his tenure as CEO. At least seven different women have come forward with allegations of inappropriate harassment against Russell Simmons’ company, but they do not want the attention.
Real Estate: In 2013, Russell purchased a property in the Los Angeles area for the price of $5.9 million. In August of 2018, he sold the property to a buyer for $8.125 million.
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When Did Russell Simmons Get Breakthrough
Although LL Cool J helped Def Jam take its first steps toward success, later signings proved to be even more profitable. The Beastie Boys became an international success when they released Licensed to Ill through Def Jam.
After many other major success stories, Rick Rubin left the label in 1988. Six years later, Rusell Simmons sold half of the label to Polygram for $33 million. Two years afterward, Rick Rubin sold his shares in the company for $120 million to Universal Music Group. In 1999, Simmons sold the remainder of Def Jam to Seagram for $130 million. Def Jam continues to exercise great influence over the hip-hop genre.
Russell Simmons Clothing Lines
Russell Simmons started three clothing lines; Phat Farm, ArgyleCulture, and Tantris. Phat Farm grew in popularity as a result of the expanding hip-hop scene and was purchased by Kenwood in 2004 for $140 million. Tantris specialized in yoga clothing, while ArgyleCulture catered to millennial men.
Other Business Ventures Of Russell Simmons
In 2013, Russell Simmons created Unirush LLC, which supplied pre-paid debit cards to low-income customers. In 2017, this company was sold to the Green Dot Corporation for $147 million.
Rush Communications expanded into many other businesses, such as energy drink firms, the internet, and book publishing. Russell used the latter to publish several self-help books, including Do You! and 12 Laws to Achieve Happiness and Success.
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Controversy Related To Russell Simmons
Russell Simmons was accused of raping Keri Claussen Khalighi in 1991 in 2017. Khalighi was 17 at that time. This was the first of numerous claims that were eventually leveled at Simmons. Jenny Lumet again accused Russell Simmons of raping her in 1991.
Kgopolo posted a Tweet related to the situation in late 2017. You can see the Tweet below.
NEWS: Music Mogul Russell Simmons accused by former model Keri Claussen Khalighi of sexual assault when she was just 17 years old — and Simmons is refuting the allegations.
Russell Simmons' statement regarding the accusations 👇🏿 pic.twitter.com/6DWbVgeZce
— Kgopolo (@PhilMphela) November 22, 2017
This time, Simmons quit playing a leadership role in all of his businesses. HBO and others distanced themselves from the entrepreneur. Before 2017 could conclude, The Los Angeles Times had published five distinct testimonies of women who had been the victim of inappropriate misbehavior or inappropriate assault at the hands of Simmons.
The New York Times he soon followed with a further four accounts from new women, including more rape allegations. In the end, a total of 13 women came forward with these charges. Russell Simmons disputed everything, sold his assets, and relocated to Bali. Simmons’ accusers claimed he chose Bali since the US doesn’t extradite to it.
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