Sumner Redstone Biography & Net Worth
|Popular Name:||Sumner Redstone|
Sumner Murray Rothstein
Boston, Massachusetts, United States
Phyllis Gloria Raphael (m. 1947; div. 1999)
Paula Fortunato (m. 2002; div. 2009)
|Net Worth:||$2.6 Billion|
|Last Updated:||December, 2020|
Sumner Redstone was an American businessman and media mogul. He was the chairman and majority owner of the National Amusements theater chain. Through National Amusements, Sumner, up until his passing, was, and his family remain, the majority shareholders of the mass media company ViacomCBS , in turn, the parent company of Paramount Pictures film studio, the CBS TV network, and several cable networks. Mr. Redstone was previously the executive chairman of both Viacom and CBS. In February 2016, aged 92, he resigned both chairmanships after a court-ordered examination by a psychiatrist. He was succeeded by Philippe Dauman at Viacom and Les Moonves at CBS. Sumner Redstone’s biography and life journey has been documented in this well-articulated publication. Simply scroll down for more.
Sumner Redstone’s Early Life
Sumner Murray Rothstein was born to Michael Redstone and Belly Ostrovsky on 27 May 1923. He was born in Boston, Massachusetts, United States. His surname, Rothstein, was changed to its German translation, Redstone. Michael Redstone was a well-known man who owned Boston’s branch of the Latin Quarter Nightclub. He also owned and managed the Northeast Theater Corporation, a company headquartered in Dedham, Massachusetts. It preceded National Amusements.
Sumner Murray graduated from both Boston Latin School and Harvard College. He also pursued a law degree in Harvard Law School and the Georgetown University Law Center, graduating from the former in 1942.
Sumner Redstone’s Career
As soon as he completed his studies, Redstone enlisted in the U.S. as First Lieutenant during the Second World War. As a law expert, he was an assistant to Tom C. Clark. At that time, he was the Attorney General of the United States. Sumner then started working in the Tax Division of the United States Department of Justice. At that position, he worked in San Francisco and also Washington, D.C.
Leaving his former job, Sumner decided to move into the private sector. In 1967, he started working at National Amusements, a firm owned by his father, Michael Redstone. His investments included Paramount Pictures, Orion Pictures, Columbia Pictures, and Twentieth Century Pictures. Over the years that followed the remainder of his career, he invested in CBS, Viacom, and Paramount Pictures. This is how Sumner Redstone managed to accomplish success and fame, and came to be known as one of the most well-known business tycoons.
Awards & Achievements
Throughout his lifetime, Redstone received just one prestigious award. It was the Walt Disney Man of the Year Award, presented to him in recognition and appreciation of his charitable work. He was a known philanthropist who contributed hundreds of millions of several charity causes, including a $1.5 million donation made towards the Global Poverty Project.
Personal Life & Family
Sumner was married two times in his life. He had two children, Shari and Brent Redstone with his first wife Phyllis Gloria Raphael who he married in 1947. The two divorced in 1999 after being together in marriage for more than half a century. His second wife was a retired school teacher named Paula Fortunato. The two had an age difference of 39 years, but that did not stop them from tying the knot in 2002. Their marriage lasted seven years afterwhich Sumner filed a divorce in October 2009. Following the end of his second marriage, he went on to have a five-year relationship with Sydney Holland from 2010 to 2015.
Sumner Redstone was 97 years old at the time of his death in August 2020. He was best remembered for being the majority owner of Viacom/CBS. He controlled approximately 80% of Viacom/CBS through the umbrella company National Amusements. He controlled several big brands such as Paramount Pictures, Comedy Central MTV, BET, and Showtime.
Sumner Redstone Net Worth
As at the time of his passing, Sumner Redstone net worth was approximately $2.6 billion. This is not strange considering the number of big media companies he had under his control. He was the chairman and majority owner of the National Amusements theater chain. Through National Amusements, Redstone, up until his passing, was, and his family remain, the majority voting shareholders of the mass media company ViacomCBS , in turn, the parent company of Paramount Pictures film studio, the CBS TV network, and several cable networks. He held several executive positions throughout his lifetime, and earned enough salary that took care of his needs, and made up his total worth. His financial status enabled him afford the lavish lifestyle he so enjoyed. In 2016 it was discovered that Sumner had spent massive amounts of money on hookups and ex-girlfriends. He once gave a flight attendant on CBS corporate jet around $18 million and then slept with her sister, whom he gifted $6 million. It was reported that he once gave a job at Showtime and $6 million to a friend of the girlfriend of his grandson, and $21 million to an aspiring reality television show producer.
The American media mogul definitely lived an accomplished and well-deserved life during his time alive. He owned many expensive properties and till today, he is considered one of the wealthiest men in the world.