7) Russell Simmons (Net Worth: $325 million)
CEO of Def Jam Records
Business magnate Russel Simmons is the co-founder of hip-hop music label Def Jam, which distributes various record labels. He is also the creator of clothing fashion lines Phat Farm, Argyleculture and American Classics. With a net worth of $325 million, he is hip-hop’s third-richest mogul.
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