Baby Phat designer Kimora Lee,33, and Def Jam co-founder Russell Simmons, 51, had filed for divorce on March 2008 and were fighting for the custody of their two daughters.

After today's hearing at Los Angeles Superior Court, judge Marjorie Steinberg has decided to give the sole custody of 9-year-old Ming and 6-year-old Aoki to Kimora Lee Simmons.

Meanwhile, Simmons signed an agreement to pay $40,000 a month in child support until each daughter reaches 19 and a half years of age.

The music mogul was granted, in stead visitation rights for one week every eighth week with additional summer vacation and holiday time.