Russell Simmons agrees to pay Kimora Lee $40,000 in child support payments each month

Can you fathom receiving $40,000 per month in child support for two kids? That’s just child support now. We are not even talking alimony and property settlement here. But that is exactly what Hip Hop mogul Russell Simmons agreed to pay his ex wife Kimora

for their two daughters Aoki Lee and Ming Lee each blessed month. That is a mind blowing amount of money, isn’t it?

Kimora has sole custody of the couple’s children and Mr. Simmons is on this really weird visitation schedule. Plus he is ordered to have a nanny with the kids at all time and security detail too. That is interesting. It makes me speculate that maybe he is no “Mr. Mom.” Maybe when the kids are alone with him, major inappropriate things go down and Kimora is not taking any chances….

In New York, child support is governed by the Child Support Standards Act (“CSSA”) and there are guidelines that determine what the non-custodial parent will pay up to the first $80,000 of adjusted gross income. Beyond that, the parties can either stipulate, or go to trial and the judge will decide exactly how much the children need to maintain the standard of living prior to the divorce.

Kimora’s got her own fashion line called Baby Phat, so I know she is fully capable of supporting those kids. Not that that matters.  Just because Kimora can support the kids herself does not get Russell off the hook. He still has to pay his share, and that usually works out to half if they make roughly the same amount in income.  But I think Russell may slightly edge Kimora monetarily. So he is probably paying more than 50% support.

Says People Magazine:

Simmons also agreed to provide a new car, worth at least $60,000, for the children’s use, until they turn 16. The car will be replaced every three years, documents show. The papers also outline a meticulous, seven-page agreement on Simmons’s visitation rights, giving him access to the girls every eighth week during their school year and on various holidays.

All I can say is $40K is a lot of cheese. I wonder what a parent spends that kind of money on every single month? And what are the other  “add-ons” in a situation like this? I mean, does he have to spring for college too? Nannies? Security? Ballet lessons? Are these extra? Or included in the $40K?

UPDATE: I visited Mr. Simmons’ website Global Grind and found this statement from the mogul which clears it all up for me so that I can sleep better:

I am reading these stories today about how a judge ordered me to pay Kimora $40,000 a month in child support and I want to make something very clear. Nothing was ordered, it was given. My kids have a fabulous life; they are exposed to a broad range of artistic and scholastic educational programs and I’m very happy to contribute to that.  As long as I have it, they can have it. If I ever don’t have it,  I’m coming to live with them!

-Russell Simmons

 

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