Russell Simmons, Wife Host Event Despite Separation

Russell Simmons and his wife, Kimora Lee, have announced their separation — but the couple plan to host a fundraiser Saturday at Donald Trump's estate in West Palm Beach.

The dinner and auction at Mar-a-Lago will benefit Art for Life, which Simmons and his brothers founded. The hip-hop mogul has called on celebrity friends to attend the $1,000-a-person event.

"This will be the best party Mar-a-Lago has ever seen," Simmons said Wednesday while sitting poolside at the Delano hotel. "I have to tell Kimora to bring one of my suits."

Jamie Foxx, Antonio "L.A." Reid and Denise Rich will be honored for their philanthropic efforts to promote art among the youth.

Others expected to attend include Trump and his wife, Melania; Venus and Serena Williams; and Kelly Rowland.

Up for bid will be items such as a trip to the Bahamas for 20 on a chartered jet, couture gowns and top-of-the-line beauty products.

"Last year my wife got a Rolls-Royce," Simmons said.

The pair will meet with about 200 students from the Boys & Girls Club on Sunday. They will take part in a question-and-answer session and discuss how art can influence lives.

"Art is a way to express yourself and through that you can escape a bad situation," Simmons said.

The pair announced last week that they were splitting after seven years of marriage. They have two young daughters. In a statement issued by the couple, they said they had been separated for "some time," even though they were still living together.