There was some truth to the rumors. The two were separated for some time.
In a joint press release, they confirmed the rumors. They will remain friends and parents of their two girls. "After selling his share in the company to Universal Music Group for $100 million in 1999, Simmons returned to the Def Jam fold last year in a joint venture with the Russell Simmons Music Group. He's also been active in political and social causes, founding the Hip-Hop Summit and participating in campaigns for People for the Ethical Treatment of Animals. Kimora Lee was discovered in her teens and became a sought-after model thanks to her exotic good looks (her father is African-American, her mother, Japanese-American). She has become a hugely successful designer, with her Baby Phat clothing label and the Hello Kitty jewelry. Additionally, Lee's a reality-TV personality, appearing on best friend Tyra Banks' America's Next Top Model and her own VH1 series, Fabulosity, which is also the title of her first book, published last month by Regan Books. "