Sumner Redstone

Net Worth: $5 Billion

• Source of Wealth Viacom
• Nationality United States

About Sumner Redstone

American media magnate, Sumner Redstone has a net worth of $5 billion as of October 2015, according to Forbes. A World War II vet and Harvard Law graduate. Sumner is the majority owner and Chairman of the Board of the National Amusements theater chain. A theater company founded by his father, Michael Redstone. Sumner managed the company with his brother Edward, until he passed away in December 2011. Sumner holds 80% of the company. Most of his fortune comes from his controlling stakes in CBS and Viacom. In September of 2011, his foundation, Sumner M. Redstone donated $1.5 million to eradicate extreme poverty. The foundation also funded The End of Polio Concert, drawing more than $100 million in donations from around the world, including $40 million in funds from the Bill and Melinda Gates Foundation
Some six weeks after Sumner Redstone, the 92-year-old billionaire who controls Hollywood media powerhouses Viacom and CBS, tossed Sydney Holland, 44, his live-in girlfriend of four years, out of his Beverly Park mansion, the other shoe has dropped.
Sources tell Vanity Fair that on October 12 Redstone also banished Manuela Herzer, 51, his ex-flame, who seemed to have enjoyed an entente cordiale with Holland in caring for and entertaining the billionaire. Herzer dated Redstone during the 1990s and refused an offer of marriage from him, but they remained close friends. Today, she lives a few miles away from his mansion, and, some say, she had taken control of his day-to-day operations, including managing the dozen or so people employed there, many of whom were handling his round-the-clock health care.
That changed abruptly last week. “All of a sudden on Monday there were a bunch of lawyers and house staff standing around, and she walked back in the house and it was communicated to her that Sumner doesn’t want her there anymore,” says someone familiar with what happened that day. “Now whether that’s truly Sumner’s wishes remains to be determined . . . There are lawyers swarming all around.” This person says Herzer’s “primary concern” is for Redstone’s health care. “Right now the big issue is who is looking after Sumner, and that’s a real serious issue,” the source continues. “She doesn’t know why she’s not there anymore, and there’s no one around. No family. Nobody responsible. There’s a driver and a nurse supposedly running the show.”
Through her spokesperson, Nancy Sterling at ML Strategies in Boston, Redstone’s 61-year-old daughter, Shari, says that this assertion is nonsense. She adamantly disputes the suggestion that Redstone’s family is neglecting him or that he is not being properly cared for. In the aftermath of Herzer’s departure from the mansion, Sterling wrote me, “Two of Shari’s three children [Brandon and Tyler Korff] visited Sumner immediately; the third [Kimberlee Korff] called from the East Coast and is seeing him next week. Shari also flew out to see her father [last Wednesday] and everyone was excited to be able to spend time together again as a family.”
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