Russell Simmons net worth and salary: Russell Simmons is an American record executive and entrepreneur who has a net worth of $325 million. Russell Wendell Simmons was born on October 4, 1957 in Queens, New York. He is probably most famous for being the co-founder of the pioneering hip-hop record label, Def Jam. Russell co-founded Def Jam with NYU student and future music impresario (with Rick Rubin). Together, Rubin and Russell revolutionized music forever by helping to launch the hip-hop cultural movement. Some of their earliest acts include LL Cool J and The Beastie Boys. Simmons is one of the wealthiest entrepreneurs in the world of hip-hop and is a man with varied interests. In addition to his music empire, Russell Simmons is owner and operator of three clothing lines that he also founded. The clothing lines are Phat Farm, Argyleculture,and American Classics. Simmons is also well-known for his strict adherence to a vegan lifestyle. As a strict and orthodox vegetarian, he will not eat meat and is opposed to the slaughter of animals for food. In the last couple of years, Russell Simmons has shifted his focus from records to political commentary and other literary pursuits. He is a regular contributor to the Huffington Post and is also editor-in-chief of GlobalGrind.com, a website that reviews the world of hip-hop.