By Martin James Friday, December 30th, 2011
Forbes magazine estimated Simmons to have a net-worth estimate of $340 million as of April of 2011. His companies Phat Farm, Argyleculture and American Classics are cornerstones of the urban clothing industry and he and his brother, Rev. Run, own the sneaker company Run Athletics--which also houses his nieces successful show brand, Pastry. He's also the majority shareholder in the popular hip hop news/gossip site, Global Grind.
In January of 2011, Simmons partnered with social media site MySpace to launch the Hip Pop Challenge, search for the best musicians in hip-hop and pop. He also received the Difference Maker Award at the 2011 American Business Awards.
Simmons remains one of America's most outspoken and visible philanthropists. For his outspoken support of gay and lesbian rights and gay marriage in particular, Simmons was given the Excellence in Media Award at the 2011 GLAAD Awards. He endorsed the second Muslim Jewish Conference in 2011, and was honored as the official patron alongside Rabbi Marc Schneier.
He also released his second self-help book, Super Rich: A Guide To Having It All in early 2011. The book emphasized the principles of wealth and generosity. "The basis of our business practices is to make others happy; that's how we get paid," Simmons said in an interview. "The karmic responsibility falls on us that a lasting, stable happiness is what we give. You have a responsibility to give what you love and have faith in what you're giving."