Russell Simmons Wants Change in the Diamond Trade

Published: 2006-11-22
Def Jam Records co-founder Russell Simmons is trying to reform the diamond trade to better benefit Africans.

Simmons plans to do some research when he visits diamond mines and factories in Botswana and South Africa this month.

"I'm making a lot of money by selling diamonds," Simmons told the Daily News. "I want to give my money back to the people in Africa."

The successful businessman has started the Diamond Empowerment Fund "to teach Africans how to cut and polish diamonds on the continent, instead of taking the diamonds out."

"We want more of the black Africans to become executives," he said. "The diamond industry should be the leader of African empowerment."

Writer: Meghan Wubs



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