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Russell Simmons Told To Pay $485k Per Year In Child Support

Russell Simmons Told To Pay $485k Per Year In Child Support

Russell Simmons’ divorce from Kimora Lee Simmons will mean that he will have to pay $480,000 dollars a year in child support.

According to TMZ, the Def Jam records founder will be required to make monthly payments of $20,000 for each of his two daughters, Ming Lee and Aoki Lee.

Documents obtained by TMZ include details about the length of time Russell will have to make the payments for his daughters and specify that the payments must be made on the first of each month.

“Respondent shall pay to [Kimora Lee], for child support, Twenty Thousand ($20,000) Dollars per month per child, per month, for a total of $40,000…[for] each child until a child is emancipated, reaches the age of nineteen and one half years (July 21, 2019 for Ming Lee; February 16, 2022, for Aoki Lee), dies, marries, becomes self-supporting, is no longer residing with [Kimora Lee], joins the armed forces, is otherwise legally emancipated, or until further order of the Court, whichever occurs first.”

The documents also say that Russell will be responsible for his daughters travel costs and that when they are in his custody he must always be accompanied by both a nanny and a security person of Kimora Lees choice.

Kimora Lee has maintained sole physical custody of their daughters and excluding certain occasions such as on Fathers Day and his birthday, Russell is only allowed to see them at arranged and scheduled times.

“The children shall be with [Russell Simmons] every eighth week from Saturday at 9:00 a.m. until the following Saturday at 6:00 p.m.” the documents say.

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1 Comments For This Post

  1. Tha Animal Says:

    Kimora must be laughing str8 to tha bank right now

1 Trackbacks For This Post

  1. Rusell Simmons Talks Child Support, Says Kimora’s A Great Mother | HipHopsHome.com Says:

    [...] on 27 June 2008 by Nathangjj Russell Simmons has released a statement addressing the recent news that he has been ordered to pay $485,000 dollars a year in child support to his ex wife, Kimora Lee [...]

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