Russell Simmons – Net Worth: $340 Million

Russell Simmons is an entrepreneur, record executive, film producer, and writer. He’s best known for his involvement in the modern music industry. He was one of the founders of the well-known hip-hop label Def Jam Recordings, and he also served as the CEO for Rush Communications, Inc. By 2011, Simmons had a fortune that was estimated to be around $340 million. Without a doubt, he was living an incredibly luxurious and lavish life!

Simmons has residences in New York and Los Angeles. You could argue that his New York residence is the most lavish out of the two. He owns a beautiful Manhattan penthouse, and it spans over 7,000 square feet. Simmons’ five-bedroom penthouse is estimated to be worth $5.5 million. Best believe that Simmons didn’t need any money loan to help pay for his beautiful downtown New York residence.