Sumner Murray Rothstein Net WorthReal Name: Sumner Murray Rothstein
Date of Birth: 05/27/1923
Place of Birth: Boston, Massachusetts
2017 Net Worth: $6.3 Billion
Profession: Executive Chairman of Viacom, Chairman of National Amusements
Sumner Redstone Biography
Sumner Redstone was born Sumner Rothstein in Boston, Massachusetts in 1923. His father changed the family name from Rothstein to Redstone, which is the literal translation of the German surname “Rothstein.” His father, Michael, owned Northeast Theater Corporation, which would become National Amusements. Redstone graduated first in his class from high school and graduated from Harvard in 1944. He served in the US Army during World War II. He worked in Washington, D.C, for a short time, where he attended Georgetown University Law School, later transferring to Harvard Law School where he received his LL.B. in 1947.
Redstone worked as a special assistant to the US Attorney General, later working for the US Department of Justice Tax Division in both Washington D.C, and San Francisco. He joined his father’s business, National Amusements, and became CEO in 1967. Redstone believed that content was more important than distribution because although distribution would always be available, finding quality content was essential. He invested in numerous other venues including Columbia Pictures, Paramount Pictures, Orion Pictures, and Twentieth Century Fox. Redstone made enormous profits from these companies and sold his stock during the early part of the 1980’s. Redstone suffered severe burns during a fire at the Copley Plaza Hotel Fire but survived after more than 30 hours of surgery. Although he was told he would never live a normal life, he not only survived, but launched a hostile takeover of Viacom, which he acquired in 1987.
Redstone’s family company has eventually grown to include everything from cable channels such as Comedy Central, to movie studios. His idea about providing quality content has paid off in billions. Redstone has a net worth of $6.3 billion and at 91 years of age, he is still a widely recognized media magnate in the business world. He currently lives in the most luxurious area of Beverly Hills, California, in a house which he purchased in 2002 for $14.5 million.