ENTREPRENEURSHIP

Detailed explanation-1: -In 1992, Simmons launched his own clothing and apparel line the formation of Phat Farm. Later, his wife, Kimora, expanded on the line with the creation of the women’s line, Baby Phat. As part of this enterprise, he has also launched a financial enterprise with the RushCard and the Baby Phat RushCard.

Detailed explanation-2: -Russell Wendell Simmons (born October 4, 1957) is an American entrepreneur, writer and record executive. He co-founded the hip-hop label Def Jam Recordings, and created the clothing fashion lines Phat Farm, Argyleculture, and Tantris. Simmons’ net worth was estimated at $340 million in 2011.

Detailed explanation-3: -It taught Simmons the basics of running a balance sheet. “I bought something for a dollar and sold it for three, ‘’ he told Bryan Elliott in an episode of “Behind the Brand” on Entrepreneur. “I bought a lot of it for a dollar and sold a lot of it for three. So now it became a business.

Detailed explanation-4: -Russell Simmons is an American record executive and entrepreneur who has a net worth of $340 million. Russell Simmons was introduced to Rick Rubin when he was in his mid-20s. Mr. Rubin had recently started a record label from his college dorm room, and the two acquaintances decided to form a partnership.