Ker-Ching! From Run DMC to multi-millionaire, Russell Simmons can be held responsible for kick-starting hip hop's current annual turnover of over $10billion. Here he chats to Elle J Small about the power of urban music, conflict diamonds and yoga. $163 million. That's how much money the record label that Russell Simmons co-founded back in 1984 was sold for. Def Jam records, sensibly, still have Russell as their Chairman. Why wouldn't they? How many 46 year-old businessmen do you know at the helm of a multi-million dollar empire that understand their product better than the 12 year-old kid buying it? How many 46 year-old businessmen do you know that could successfully pull off a pink polo shirt and matching pink baseball cap? That's what Russell Simmons is donning today, inside Oxford Street's House of Frazier. He runs his fingers through the rails of velour Phat Farm tracksuits- the tracksuits he's in town to promote. For you see hip hop isn't just about the music; it's about the whole lifestyle- from the car you drive to the labels you wear. Something Russell recognised and cashed in on long before the likes of Jay-Z (Rocawear) and P Diddy (Sean Combs). Phat Fashions was founded in 1992; Russell reportedly sold the hip hop clothing line to apparel giant Kellwood for $135 million in January this year. Similarly to his relationship with Def Jam, Russell remains the CEO. Either Mr Simmons has an amazing eye for lucrative trends or this is a simple case of being in the right place at the right time. Probably a bit of both. What's certain is the New Yorker- with his tired eyes and rapid speech- fully understands the power of hip hop and how money can be extracted from it. "Hip Hop is the best brand-building community in America and in the world!" exclaims Russell like he's just unleashed the secret to the universe. Don't snort though; he's devastatingly correct. Even if you weren't a hip hop head, you'd have probably noticed 50 Cent, Beyoncé and Missy Elliot dropping brand names like Burberry, Lexus and Jimmy Choo into their songs. Urban tune-spotters will know all about Courvoisier's sales rocketing (20% worldwide) immediately after Busta Rhyme's huge hit 'Pass The Courvoisier' was released. Whether or not the cognac bigwigs paid the rapper for the track is still undisclosed, but I think we can all guess the answer. Again, this is all old hat to Russell Simmons. His groundbreaking group, Run DMC started this trend back in the eighties. "We make a good team my Adidas and me. We get around together, rhyme forever. And we won't be mad when worn in bad weather." That's how the lyrics went to the cunningly, erherm, titled 'My Adidas'. At the time the German sports brand was struggling. Shortly after Run-DMC's name-dropping, profit margins soared and manager Russell managed to seal the hip hop group a $1.5million endorsement deal. Today Adidas are a multi-billion company. "I think it's something like $4 billion," offers Russell. "We've helped support many companies and build many brands," the entrepreneur openly admits. "My wife bought a diamond and platinum Frank Mueller watch one day. I remember her coming home and it was like 'Oh, another watch'. But then I noticed that Reverent Run [Run DMC rapper and Russell's lil bro], Jay-Z and Puffy had the same watch. And then I saw it in Lifestyles magazine- which is the insiders ethnic magazine: very cultural and very forward on watches. Then I saw it in Watch Time magazine and lots more magazines." The point is, just like sex, hip hop sells. But don't let images of a big, fat, evil, cigar-smoking tycoon conjure up when you think of Russell Simmons. The mogul of urban youth culture has successfully shown that as well as making stacks of cash, and selling a few thousand more magnums of Cristal, hip hop has the power to promote morally sound movements too. Hence Russell's involvement with the UK's Princes Trust Foundation and America's Hip Hop Summit. The summit, founded by Russell, has among other missions the aim to register thousands of new young voters through the medium of hip hop. So far this is something the non-profit organisation has succeeded in doing. And countless urban music artists support the cause. "We registered 30,000 voters in Houston," Russell startlingly informs. "Snoop Dogg registered 60,000 voters in LA as part of a process that included Damon Dash and the Roc-A-Fella family. We registered 80,000 voters with the help of Will Smith and Wyclef and LL Cool J. Eminem did an excellent job with Detroit." Records, tracksuits and politics aren't the only pies that Russell Simmons has his fingers in. Among other ventures, Russell and his beautiful model/designer wife, Kimora Lee Simmons have just given birth to The Simmons Jewelry Company. Formed in conjunction with giant jewellers M. Fabrikant & Sons, the company and its founders recently threw an elaborate 'Bling! Bling!' party in London alongside jewel expert, Lord Rothschild. "One of things that we want to do is bring awareness to the conflict diamond trade and we want to do conflict-free diamonds as much as possible... but it's very difficult to determine 100%," Russell explains. "We also wanna give away a big percentage of the proceeds to the kids that are ill affected by the diamond trade. The first thing we'll do is give a big advance to maybe the kids in Sierra Lyon. Then after that we'll get busy selling jewellery and the whole company will be dedicated to that conscious effort... I do want to talk about the fact that everything we do is tied to something philanthropic, something social or something political, that affects the people who are in struggle." Of course he does. And he will. In fact throughout our conversation, Russell pretty much commands the interview. He knows time is of the essence so he speaks at about 95mph; covering every topic he wants, while carefully avoiding any subject he doesn't. But then Russell Simmons is an expert. With music, with clothes, with beautiful women, with journalists. In fact the only thing he isn't particularly good at is relaxing, so it seems. During his short stay in London, Russell Simmons' 'To Do' list is longer than his wife's legs. Doesn't he ever just wake up and think: I just wanna sit back, chill out and enjoy my money? "What the fuck am I gonna do with it?" Russell laughs, finding this connotation utterly hilarious. "I went to the Bahamas the other day and I was sat next to the beach in this beautiful salt pool in the spa. I loved the salt pool and I went there two or three days in a row. But at the end I was like 'Fuck! I gotta go home now.' I got bored." Russell doesn't admit to being a workaholic because he doesn't see his daily routine as work. Obviously he is an extremely successful businessman, but at the same time he is an avid charity fundraiser and says he finds more pleasure in giving money than making it. "And I like to be home with my kids," Russell states, his lips as pink as his baseball cap. "I look forward everyday to my yoga. I like reading the scripture. I like meditation. I can only sit for 20 or 30 minutes of meditation. Some people sit for hours of meditation. I certainly wouldn't call that a bore 'cause working on a process to be in touch with that thing that drives us all is a very admirable use of your time. But every morning I sit still and every morning I try to reconnect and that gives me, in many cases, a connection to that truth or helps me work on getting closer to that truth that allows me to breathe and live." And you thought hip hop was just for gangsters. The Russell Simmons Fact-File Age: 46 Born: Queens, New York Estimated Worth: $200 million Made his name: Co-finding Def Jam records and launching the careers of Run DMC, Public Enemy, LL Cool J and The Beastie Boys. Family: Married to model-turned-fashion-designer Kimora Lee Simmons. They have two daughters, Ming Lee and Aoki Lee. The Empire: has included or includes: Def Jam Records, Phat Farm, Def Comedy Jam, Def Poetry Jam, Def Pictures, Rush Artist Management, Rush Media, The Hip Hop Summit Action Network, Rush Philanthropic Arts Foundation (charity), UniRush Financial Services (debit card), DefCon3 (energy drink) and the Simmons Jewellery Company. Autobiography: 'Life and Def: Sex, Drugs, Money and God' Relaxation techniques: Yoga and meditation. By the way: Russell Simmons is a non-smoking vegan. Words by Elle J Small