Sumner Redstone is a legendary media magnate and businessman from America. As far as the National Amusements chain of theaters is concerned, he is not only the majority shareholder but also the board’s chairman. He once served as the executive chairman of both Viacom and CBS. The former is the parent company of the likes of BET Networks, Viacom Media Networks, and Paramount Pictures. As of now, he is the chairman emeritus at the two. Having worked for decades, how much as the man saved? There is only one way to find out. Check out Sumner Redstone’s net worth in 2018 and his success story.
Sumner Redstone Early Life
He was born in 1923 on 27th May as Sumner Murray Rothstein. He was born to Belly Ostrovsky together with Michael Redstone. His birthplace was Boston, Massachusetts. His surname changed from Rothstein to its German translation, Redstone. Michael was a prominent man who owned Latin Quarter Nightclub’s Boston branch. He was also the owner of Northeast Theater Corporation. The company was in Dedham, Massachusetts. It preceded National Amusements.
He is a graduate of both Boston Latin School and Harvard College. Later, he pursued a law degree in both the Georgetown University Law Center and Harvard Law School and graduated in 1942 from the latter.
He married Phyllis Gloria Raphael in 1947. The two had two children namely Shari Redstone as well as Brent Redstone. After more than half a century of being married, the union ended in 1999.
His second wife was Paula Fortunato. She was a retired primary school teacher. The marriage started three years after his divorce. The two had an age difference of 39 years. He filed a divorce in 2009 on 17th October, but it became final on 22nd January of the following year.
He was in a relationship with Sydney Holland for five years; Things ended in August 2015.
Sumner Redstone Career, Awards & Achievements
Upon the completion of Redstone’s studies, he joined the United States Army as First Lieutenant during the World War II. As a law expert, he was the assistant of Tom C. Clark. At that time, he was the U.S. Attorney General. Then, he began working at the United States Department of Justice Tax Division. At that position, he worked in Washington, D.C. as well as San Francisco.
After that, Sumner decided to venture into the private sector. In 1967, he began working at National Amusements. His father owned the firm. His investments included Columbia Pictures, Orion Pictures, Twentieth Century Pictures and Paramount Pictures.
Over the years, he has invested in Viacom, Paramount Pictures, and CBS. That is how he has managed to become one of the most prominent business moguls.
Awards and Achievements
Sumner Redstone once received the Walt Disney Nan if the Year Award. It was as an appreciation of his charitable work. He had contributed over $150 million, and a good example is his donation of $1.5 million to go towards the Global Poverty Project.
Net Worth of Sumner Redstone
Sumner Redstone net worth is over $7 billion. That is a significant improvement because as of April 2015, it was about $5.1 billion. That is not a surprise given the many media companies where his family has much-controlling powers. They include Viacom, CBS Corporation, BET, MTV Networks and Paramount Pictures. For many years, Sumner has also held many executive positions. With all that, the wealth is not a surprise to those close to him.
Sumner Redstone is beyond any reasonable doubt one of the wealthiest people in the world. He survived severe burns sometime back. Despite the doctors telling him that he should say goodbye to a healthy life, he pressed on.