Who

Simmons has his hand in everything—from clothing to debit cards to jewelry to energy drinks—but he'll always be most famous as co-founder of Def Jam, the music label that put hip-hop on the map. His ex-wife is Kimora Lee Simmons.

Backstory

Simmons grew up in Hollis, the "drug trading capital of Queens," and started out in his teens as a hustler and dealer himself, selling marijuana and coke. (Or fake coke: Simmons says he occasionally crushed up coca leaf incense and sold it in lieu of the real thing.) He later turned to rap—back when the nascent genre was getting scant attention from music execs—promoting and managing acts like Kurtis Blow and Run-DMC, the group co-founded by his brother, Reverend Run.

In 1984, Simmons teamed up with hirsute music producer Rick Rubin to launch Def Jam, founding the company from Rubin's dorm room at NYU with $4,000 in capital. Their first single was "I Need a Beat" by a 16-year-old L.L. Cool J, and the label struck gold with seminal '80s rap acts like the Beastie Boys and Public Enemy. Rubin departed the company in 1989, in part due to the arrival of Lyor Cohen, who became Simmons right-hand. But Def Jam continued to ride the wave of rap and hip-hop's popularity over the course of the '90s, minting millions as urban music spread like wildfire through suburbia and replaced rock and pop at the top of the charts. Between Def Jam and its various divisions (like Roc-a-Fella, which earned Def Jam distribution in 1997) the company was responsible for launching the likes of Jay-Z, Foxy Brown, Ja Rule, DMX, Method Man, and Ashanti. Simmons cashed out in 1999, selling his outstanding stake in Universal for an estimated $100 million. Lyor Cohen took over as CEO following after his departure; today Def Jam is headed up by LA Reid.

Of note

Simmons is the original hip-hop multi-tasker, the man who showed the world that you really can make music, produce movies (Eddie Murphy's The Nutty Professor) and TV shows (Def Poetry Jam, Def Comedy Jam), create an energy drink (DefCon3), launch a website (the short-lived 360HipHop), produce a line of jewelry (Simmons Jewelry Co.), stamp your name on a pre-paid debit card (the Rush Card), and publish books (his 2002 autobiography, Life and Def: Sex, Drugs, Money + God). Of course, his most famous sideline over the years has been his clothing line, Phat Farm, which he founded in 1992 and expanded in the late '90s with Baby Phat, Kimora's line of womenswear. Simmons sold off Phat Farm in 2004 to Kellwood for $140 million. But he's had plenty to occupy his time since then. He published another book, produced a few more TV shows, and launched a new website, Global Grind, a "content and community" site. He's said he plans to be the first "hip-hop billionaire," which means he somehow has to figure out a way to scrounge together another $600 million or so.

Off hours

Simmons is a yoga and meditation fanatic (he's occasionally spotted at Jivamukti on Lafayette) and an avowed vegan. His "life philosophy" recently led him to publish the motivational tome Do You! 12 Laws to Access the Power in You to Achieve Happiness and Success. The book features a forward written by pal Donald Trump, who Simmons once described as "his nigga." Trump's reply? "I think that's a great compliment, and I think I will thank him for that."

Campaign trail

Simmons has long been an active political presence and in 2001 he founded a non-profit political coalition, the Hip-Hop Summit Action Network, which has been active in voter registration drives and various issues of concern to the black community. (Simmons has been a vocal critic of the Rockefeller drug laws, a cause that's personal since his brother, Danny, went to jail on drug charges.) Simmons carries a fair amount of political influence, particularly within the African-American community, and is regularly courted by politicos. To the surprise of many, though, he endorsed Dennis Kucinich in 2008, calling Barack Obama a "mouse" who is "controlled, just like everyone else."

Personal

Simmons met Kimora Lee in 1992 when he was 35 and she was just 17. The couple married in 1998 on St. Barths—Simmons's brother, Reverend Run, officiated; guests included Martha Stewart and Jon Bon Jovi—before separating in 2006 and divorcing in 2008. The couple has two kids together, Ming and Aoki. Most recently, Simmons has been dating model Porschla Coleman.

Habitat

Simmons and Lee used to reside in a 10-bedroom, 35,000-square-foot mansion on four acres in Saddle River. (It's now on the market—and can be yours—for just $20 million.) These days he's renting downtown while he looks for a home to buy. Simmons also owns a 7,000-square-foot triplex at 114 Liberty Street, which he occupied until 2001 and has since rented out. He was planning to sell the pad to P. Diddy, but the deal fell through after the building was damaged on Sept. 11th.

Toys

Like Damon Dash and Jay-Z, Simmons cruises around town in a Maybach 62, which retails for nearly $400,000. Ever the businessman, Simmons claims he got the car at a discount, paying a paltry $300,000.