Hip-hop power couple Russell Simmons and Kimora Lee Simmons announced on March 31 they'd separated after seven years of marriage. Russell co-founded Def Jam Records with Rick Rubin at New York University in 1984. Kimora, a Florissant native, is the head of the Baby Phat clothing line. New York Magazine dubbed her "the New Queen of Conspicuous Consumption." Like the Alicia Keys song says, Kimora and Russell will continue "makin' paper" as business partners.