The divorce of hip hop mogul Russell Simmons and Kimora Lee has been finalized, with Simmons being seriously hit in the pocket book.
Simmons has been ordered to pay 480,000 dollars a year in child support, as well as 20,000 per year for each of his 2 children until they turn 19.
His ex has been granted full custody of their children, but he has been authorized visitation.
He must also provide his family with a car worth at least 60,000 for his daughter’s benefit, and the car must be replaced each 2 years.
The amount that was awarded to his ex and their daughters is based on his earnings filed as part of his latest tax return.
You’d think that having to pay out such an extreme sum of money would bother Simmons, but due to what he is making, it does not. “Regarding the money, my kids live a tremendous life. They do have lots of security, nannies, educators, special programs, travel, chefs, on and on. Their mother manages all of those luxuries and I’m happy to provide for that,” he stated
The couple were first married back in 1998.