9) Russell Simmons (Net Worth: $325 Million)

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American business tycoon Russell Simmons is one of the founders of Def Jam Records. He is the creator of clothing fashion lines Argyleculture, Phat Farm and American Classics. He is a majority shareholder of the website Global Grind. The hip-hop pioneer discovered artists like LL Cool J, the Beastie Boys, and Run-D.M.C. His movie production house has produced such films as Krush Groove and The Nutty Professor. In 1999, he sold his shares in Def Jam Records to Universal Music Group for a reported $100 million and sold the Phat Farm clothing line for $140 million in 2004.