Russell Simmons’ Gold Rush! The 59-year-old music mogul’s RushCard, the prepaid debit card company he founded, is being bought by Green Dot for $147 million. Reportedly, Green Dot will buy UniRush, the parent company of RushCard as well as the Rapid! payroll debit card.
In 2015, Simmons and his RushCard made headlines, after a software upgrade wrongly cut off more than 400,000 customers from their funds for days and in some cases weeks. The situation was a PR nightmare for the company and RushCard customers were unable to purchase necessities for their children, and customer service lines were tied up for weeks.