Def Jam became just one piece in Simmons’ corporation, Rush Communications,Inc., 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. His nephew Jamal “Redrum” Simmons and his group Flatlinerz released the highly controversial album U.S.A. in 1994 on Def Jam but was dropped from the label soon after. Rick Rubin sold his share of the record company for $100 million to Universal Music Group in 1996. Simmons produced Def Poetry, begun as a television series on HBO, which also branched into a Broadway live stage production in 2002.

 

Net Worth: $325 million

 

Russell Simmons House

Russell Simmons House