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Kimora Simmons: I Can't Raise 2 Kids on $480,000 a Year!

Posted by Fara Kearnes on June 27, 2008 2:20 PM |

kimora and kidsIf you're wondering how much it costs to raise two young children in Los Angeles these days, it's $480,000 a year, according to Kimora Simmons. And that's even with Owning the clothing company she dresses the kids in!

According to documents in the Russell Simmons and Kimora Lee divorce case filed yesterday, the Def Jam records co-founder has to shell out $20k per month -- per daughter -- in child support to Kimora. And he's gotta keep paying until 2019 for Ming Lee and 2022 for Aoki.

Kimora, the fashion model turned fashion mogul, has Baby Phat and other mega-million businesses, and she's rumored to be engaged to Blood Diamond beau Djimon Hounsou.

She and Russell were married 15 years before they split in 2006, citing irreconcilable differences. They are asking for joint physical and legal custody of their children.

Both parties are also asking the court to deny spousal support for the other.

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