The rocker tells Britain's The Sun a promoter gave him around $200 million (£125 million) in the hope of luring Robert Plant, Jimmy Page and John Paul Jones into making a comeback.
Simmons was told to use his relationship with the band to tempt them into the idea after the success of their one-off concert at London's O2 Arena in 2007, but admits his efforts were in vain.
He says, "In 2009/10 I was given a few hundred million dollars in an account by a large concert promoter and given the task of reaching out to Jimmy and Robert and trying to convince them to get back together.
"Of course, it didn't work. Robert just doesn't want to do it."