Def Jam co-founder Russell Simmons is considered Hip Hop’s first mogul. With a top record label, fashion line, reality TV shows and websites at various points in his career, the Queens, New York native has evolved throughout the last 30 years. One of Simmons’ symbols of wealth sold this week, for an eight-figure sum.
HomesOfTheRich.net reported that Russell and ex-wife Kimora Lee Simmons have sold their New Jersey mansion for $10 million. They first listed their former living quarters in 2007 for $23.7 million, before reducing the price.
The 35,000 square-foot mansion includes a 50-seat home theater, among many other amenities. The buyer’s name has been kept private.