Simmons vs. Branson
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Simmons vs. Branson
Changing the Music Industry
Curated by Abraham Hall
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Starting Def Jam Recordings: Early Life of Russel Simmons

Starting Def Jam Recordings: Early Life of Russel Simmons | Simmons vs. Branson | Scoop.it

Russel Simmons was born in Hollis, Queens on October 4, 1957. He and his siblings were raised by their mother, Evelyn Simmons. Although his first go at entrepreneurship was selling marijuana, he ended up going on a different path. After a short time at City College in New York, he started to promote parties where hip-hop artists were featured. In 1984, at the age of twenty-seven, he founded Def Jam Recordings with his partner Rick Rubin.

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Def Jam Records Today

Def Jam Records Today | Simmons vs. Branson | Scoop.it

Russel Simmons sold his share of Def Jam Records in 1999 for $120 million. The current CEO of Def Jam is Joie Manda . According to celebritynetworth.org, Simmons is worth $340 million now. Although I could not find the net worth of Def Jam Records, they are still doing well in the hip-hop industry.

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Russell Simmons's Charity Work, Events and Causes

Russell Simmons's Charity Work, Events and Causes | Simmons vs. Branson | Scoop.it

Def Jam Recordings effectively fathered the hip-hop movement, and it's founder, Russel Simmons, is a huge philanthopist. He co-founded the Rush Philanthropic Arts Foundation. He personally donates his time to the Doe Fund, which works to stop the cycle of homelessness. He also supports PETA. In all, Simmons supports thirteen different charities.

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Factors of Success

Factors of Success | Simmons vs. Branson | Scoop.it

A major factor in the development of a successful business today is technology. That was not the case for both Branson and Simmons. Technology was still important, but not nearly as critical as it is today. The factors are the same when it comes to innovation and start up money. However, both Branson and Simmons helped to revolutionize their industry. It is more difficult for people to come in and make an impact on music like these two did. More money may also be required today then back in the late seventies and early eighties. Regardless of the time period, hard work, innovation, and a vision for success are always important in founding a successful business.

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Starting Virgin Records: Early Life of Richard Branson

Starting Virgin Records: Early Life of Richard Branson | Simmons vs. Branson | Scoop.it

Richard Branson was born on July 18, 1950, in Surrey, England to parents Edward James Branson and Eve Branson. He struggled with dyslexia and ended up dropping out of school at the age of sixteen. After dropping out, he founded a magazine called Student. This would affect his later decision to go into the music industry. While living in England, he decided to create a mail-order record company to help fund his magazine. He realized the possibility of success he had, and expanded his record shop. By 1972, he had enough money to build his own recording studio, and at the age of twenty-two, Branson started Virgin Records.

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Virgin Records Today

Virgin Records Today | Simmons vs. Branson | Scoop.it

In 1992, Branson sold the rights to Virgin Records to Thorn EMI for one billion dollars. Branson's net worth is around $4.2 billion now. Although Branson no longer has the rights to Virgin Records, they are still part the the Virgin Brand. However, the American sector of Virgin Records merged with Capitol Music Group in 2007. Jason Flom was appointed CEO. Virgin Records International has a new worth of aproximatelly $1,800,000,000 and is still doing very well in the music industry.

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Richard Branson's Charity Work, Events and Causes

Richard Branson's Charity Work, Events and Causes | Simmons vs. Branson | Scoop.it

Although Virgin Records may not directly contribute to society beside helping to innovate the music industry, Branson contributes great efforts to multiple causes. In 2004, he founded Virgin Unite which supports causes such as adoption, fiding a cure for AIDS, and helping the homeless. Beyond that, the Virgin Group employs around 50,000 people world wide. In total, Branson supports twenty-three different charities.

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Differnt Background Both Lead To Success

Russel Simmons and Richard Branson do not have much in common in the way of background. Branson was raised in England to a good family while Simmons grew up in Queens where his first attempt at entrepreneuring was selling marijuana. However, they both share that characteristic of being very motivated individuals. They both started their business before they were thirty.They both siezed opportunities to expand their profits outside of the music world. Both of them are extremely innovative. Simmons management style verges on chaotic, often focussing his energy on mulitple projects, while Branson is more organized. Both try to motivate employees and create a good work environment. Both of these entrepreneurs sold their businesses and moved on to other ventures.

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