Sumner Redstone Net Worth is$3.8 Billion
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Profession: Lawyer, Entrepreneur, Businessperson
Date of Birth: May 27, 1923
Nicknames: Sumner M Redstone, Sumner Redstone, Sumner Murray Redstone
Height: 1.82 m
Ethnicity: Jewish people
Country: United States of America
Best known as the majority owner of Viacom and various other media conglomerates, Sumner Redstone has a net worth of $3.8 billion. Sumner Redstone is the Chairman of the National Amusements theater chain and also owns large portions of MTV, BET, CBS, Viacom, and Paramount Pictures. He also contributes large amounts to various philanthropic organizations that work with children. He's accumulated that net worth through Viacom and the various other media companies he and his family have a controlling interest in, including CBS Corporation, Viacom, MTV Networks, BET, and Paramount Pictures. Redstone's career as a media magnate began with his family's interest in the movie theater chain National Amusements. It was during his time with that corporation that he came to the conclusion that any successful media empire would be built on content, while other aspects of the media industry (such as channels of distribution) should be secondary to the foundation of content being distributed. It was during this time that Redstone coined that somewhat famous phrase that "content is king." The Redstone family has eventually ballooned to include everything from cable channels like MTV and Comedy Central, to movie studios like Paramount Pictures. Through these various enterprises, Redstone has always placed an emphasis on providing quality (or at least popular) content, and the result is the enormous net worth he has today. Redstone was recently embroiled in a controversy involving the attempted bribery of a journalist, but he remains one of the more recognizable media magnates in business today.
Sumner Murray Redstone (born Sumner Murray Rothstein; May 27, 1923) is an American media magnate. He is the majority owner and Chairman of the Board of the National Amusements theater chain. Through National Amusements, Sumner Redstone and his family are majority owners of CBS Corporation, Viacom, MTV Networks, BET, and the film studio Paramount Pictures, and are equal partners in MovieTickets.com.
Sumner was born in Boston, Massachusetts, to Michael and Belle (n'ee Ostrovsky) Rothstein (his family changed their surname from the Jewish "Rothstein" to "Redstone" when Sumner was 17). Michael Rothstein owned Northeast Theater Corporation in Dedham, Massachusetts -- the forerunner of National Amusements -- and the Boston branch of the Latin Quarter Nightclub.
Sumner Redstone attended the Boston Latin School, from which he was graduated first in his class. He then attended Harvard College, where he completed the studies for his baccalaureate in three years. Later, Redstone served in World War II, with a team that decoded Japanese messages for the United States Army. After this military service, he worked in Washington, D.C., and attended Georgetown University Law School. He transferred to Harvard Law School and received his LL.B., later amended to a Juris Doctor, from that institution.
After completing law school, Redstone worked for the United States Department of Justice Tax Division in Washington, D.C., and San Francisco, then entered private practice. After a few years later, he joined his father's theater chain.
As National Amusements grew, Redstone came to believe that content would become more important than distribution mechanisms: channels of distribution (in varied forms) would always exist, but content would always be essential (Redstone coined the phrase, "Content is king!"). He invested in Columbia Pictures, Twentieth Century Fox, Orion Pictures, and Paramount Pictures (Redstone's Viacom would buy Paramount in the 1990s), all of which turned over

Sumner Redstone Latest News

Sumner Redstone court drama keeps dragging on

CANTON, Mass. -- After a five-and-a-half hour hearing packed with varying interpretations of a trust that will control Viacom and CBS when Sumner Redstone is dead or incapacitated, a Massachusetts judge said Thursday he needs more time to weigh arguments ...
Posted: June 29, 2016, 10:56 pm

Sumner Redstone sues to boot ex-girlfriend from $3.7M Manhattan apartment he had planned to leave her

Sumner Redstone’s ongoing legal battle with a former girlfriend, Manuela Herzer, has landed in Manhattan — where Redstone sued Herzer Tuesday to get her mitts off a lavish apartment in the Hotel Carlyle. When the 93-year-old billionaire bought the unit ...
Posted: November 22, 2016, 5:09 pm

A CBS-Viacom Merger Would Pursue Synergies (CBS, VIA)

(See also: Viacom Outlines Priorties Amid CBS Merger Talks.) Sumner Redstone has a controlling stake in both companies through his company National Amusements Inc., which is now run by Redstone's daughter Shari. A potential reunion between CBS and Viacom ...
Posted: November 28, 2016, 9:00 pm
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