Russel Simmons runs Def Jam records, runs the Phatfarm/Babyphat clothing lines and is/was involved in real estate development/business in the Hamptons, hardly a market that crashed. I read Simmons estimated net worth is around $250m. Hardly broke that guy.
Ironically, 50 cents hamptons home is mike tyson's old place. Mike tyson purchased it for 37 million and slept in it once. Apparenty 50 cent picked it up for a steal at less than 10 mil.
WU TANG hedge fund posted a 86.4% return for January WU TANG financial services also posted a record 4th quarter earnings report early Friday morning. Future guidance was down for first quarter 08 as it appears the board approved gold plated spinners that at night give off a neon glow of 'WU TANG' for all the employees. Another costly and controversial move was to add free diamond and platinum 'grills' as part of the dental program. Sip'n Gin CEO of WU TANG was unavailable for comment as he has shed the public light after a Federal grand jury last month indicted him on 17 counts of conspiracy to deliver a controlled substance and has denied WU TANG profits were enhanced by illegal drug sales.