Wiki Biography of Sumner Redstone
Sumner Murray Rothstein, also known as Sumner Redstone, was born on May 27, 1923, in Boston, Massachusetts, USA. He is a businessman and media mogul who served as chairman of CBS Corporation, Viacom, and National Amusements Inc. until February 2016.
Have you ever wondered how much money this 93-year-old business aficionado has amassed? How wealthy is Sumner Redstone? Sumner Redstone’s net worth is believed to be $5.3 billion as of mid-2016, according to sources, and comprises the majority of shares in CBS Corporation, Viacom Media Networks, Paramount Studio, BET Networks, and MTV. Sumner Redstone’s other assets include a Beverly Hills mansion that he purchased for $14.5 million in 2002.
Sumner Redstone has a net worth of $5.3 billion dollars.
Sumner Redstone is of Jewish origin and was born to Belle and Michael Rothstein. Sumner’s father changed the surname of the family to Redstone in 1940, which is a literal translation of the German Rothstein. Sumner graduated from Harvard College in 1944 after matriculating as the first in his class at Boston Latin School. Sumner served in the US Army during WWII, and as a First Lieutenant, he was part of a team that decrypted Japanese dispatches. He resumed his schooling after the war at Georgetown University Law Center, eventually earning his law degree from Harvard Law School in 1947.
Sumner began his career as a special assistant to Attorney General Tom C. Clark of the United States. Sumner then worked for the US Department of Justice’s Tax Division before returning to his father’s firm in 1954. The Northeast Theater Corporation, which eventually rebranded as the National Amusement Inc., was owned by Michael Redstone at the time. Sumner Redstone became the company’s CEO in 1967. Sumner’s leadership has undoubtedly garnered the corporation and himself millions of dollars in profits over the years.
During the 1970s, with Sumner in the driver’s seat, the corporation began to grow fast. National Amusements began establishing multi-screen theaters known as “twin theaters,” which ultimately evolved into “multiplex” and “megaplex” cinemas, which were groundbreaking at the time. Sumner Redstone’s vision and philosophy were centered on content – it had to be consistent because “content is king,” and he quickly began to invest in other cinema enterprises and chains, which later made him millions of dollars in profit.
Sumner Redstone oversaw a hostile takeover of Viacom International in 1987. Viacom International, which already owned MTV Networks, bought Columbia Pictures, Orion Pictures, and Paramount Pictures, as well as Twentieth Century Fox, during the next several years, with Sumner Redstone as chairman. All of these bets have undoubtedly paid off, significantly increasing Sumner Redstone’s already enormous fortune.
Sumner Redstone served as chairman of both Viacom and CBS Corporation after Viacom International was split up in 2005. He was obliged to retire from these roles in the early stages of 2016 due to his age. Sumner Redstone holds more than 70% of Viacom and CBS stock, as well as 80% of National Amusement Inc stock, with his daughter owning the remaining 20%.
Sumner Redstone has made an effort to share his expertise and experience outside of his corporate profession. He has lectured at Harvard Law School, Brandeis University, and Boston University’s Law Schools over the years. He has also received honorary degrees from George Washington University and the title of honorary Doctor of Laws from Boston University. Sumner Redstone has been married two times in his personal life. He married Phyllis Gloria Raphael in 1947, and they have a son and a daughter. The pair, however, divorced in 1999. He was married to Paula Fortunato from 2002 to 2009.
Sumner Redstone has been involved in a number of charitable endeavors, donating more than $150 million through his foundation to causes such as cancer and autism research, the Global Poverty Project, the Cambodian Children’s Fund, and others. Aside from the previously named individuals, Sumner Redstone wrote his autobiography, “A Passion To Win,” in 2001 and has a star on the Hollywood Walk of Fame.
|Date Of Birth
|May 27, 1923
|Place Of Birth
|Boston, Massachusetts, United States
|5 ft 11 in (1.82 m)
|Lawyer, Entrepreneur, Businessperson, Media magnate
|Boston Latin School, Harvard College, Georgetown University Law Center, Harvard Law School
|United States of America
|Paula Fortunato (m. 2002–2009), Phyllis Gloria Raphael (m. 1947–1999)
|Shari Redstone, Brent Redstone
|Belle and Michael Rothstein
|Sumner M Redstone , Sumner Murray Redstone
|Columbia Pictures, Orion Pictures, Paramount Pictures, Twentieth Century Fox, Viacom International, CBS Corporation, Viacom, Viacom Media Networks, BET Networks, MTV Networks