Russell Simmons cashes up

Russell Simmons, NYC education activist and media/apparel mogul just sold Phat Farm, his fashion company, to supersized clothing conglomerate Kellwood, which holds the license for Calvin Klein jeans, among other things. The sale leaves Simmons with personal licesing deals (he’s a brand, don’t forget), plus music interests, the Def Poetry Jam tour and sides, a pre-paid credit card, and an energy soda called Def Con 3.
Hope Simmons uses the cash to run for Mayor in the next NYC election.