russellsimmons.jpgHip-hop Mogul Russell Simmons announced today (March 31) that he and wife Kimora Lee are splitting after seven years of marriage. The couple, who have two daughters together, have been living in the same house despite persistent talk of a split seeming imminent for several weeks. “Kimora and I will remain committed parents and caring friends with great love and admiration for each other,” Simmons said in a statement to the Associated Press. “We will also continue to work side by side on a daily basis as partners in all of our businesses.”