Russell Simmons, a 49-year-old music and fashion mogul, currently ranks third as the richest hip-hop entertainer. With a net-worth estimate of $325 million, he is only behind Jay-Z, who ranks in second place at $340 million and Diddy who is in first place at $346 million. His endeavors include the clothing fashion line Phat Farm, the hip-hop label Def Jam, and the Russell Simmons Music Group.
Source: http://www.buddytv.com/articles/runs-house/runs-house-producer-sells-hous-8178.aspx