Sumner Redstone Net Worth

Sumner Redstone's Quotes

• Possessions don't count. Achievement counts. Winning counts.
• Success isn't built on success; it's built on failure, frustration and sometimes catastrophe.
• Legacies are for dead people.

Interesting Facts about Sumner Redstone

1. He owns the Showcase Cinemas theater chain.
2. Chairman of CBS Corporation and Viacom.
3. Has two children: Brent Dale Redstone and Shari Redstone (Shari Ellin Redstone).
4. Received his Bachelor of Arts degree (1944) and his Bachelor of Laws degree (1947) from Harvard University.
5. In 1979, he survived a Boston hotel fire with burns over half his body by clinging to a third-floor window with his severely burned right hand until firefighters could reach him. His right arm hangs loosely, and the hand is gnarled with purplish skin.
6. Attended and graduated first in his class from the public prep school Boston Latin School (1940).
7. Originally attended Georgetown University Law School, but transferred to Harvard Law School and received his Bachelor of Laws degree from that institution.
8. Has an autobiography, co-written with Peter Knobler, titled "A Passion to Win", ISBN 0684862247 (published by Simon & Schuster).
9. He left Harvard University after only barely completing three years of study when he was recruited by Professor Edwin O. Reischauer (later a U.S. Ambassador to Japan) to decode messages of the Japanese during World War II. When he finished his tenure with the United States Army, the Harvard Corporation granted him his Bachelor's degree.
10. Was originally a lawyer for the U.S. Department of Justice before he left to join his father's theater chain, which evolved into National Amusements, the present-day parent holding company of Viacom.
11. On August 22, 2006, in his capacity as Viacom chairman, he announced through the "Wall Street Journal" that Viacom's Paramount subsidiary was terminating its development dealt with Tom Cruise after 14 years. Redstone said the firm terminated its deal with Cruise due to the underperformance of Mission: Impossible III (2006) (which had been expected to gross $100-$150 million more than it did), which he attributed to Cruise's "bad behavior". Movie pundits were somewhat surprised by the announcement, as Cruise remains the top B.O. draw in North America and was Paramount's cash cow. Cruise's films reportedly have accounted for 32% of Paramount Pictures' revenues in the last six years, and he was named the Top Box Office draw for a record seventh time by Quigley Publications for the year 2005. As part of its machinations before severing its connections with Cruise, Paramount leaked to the press the information that the deal was worth $10 million annually; however, the development deal actually was for $3 million per annum. At the time of the announcement, Cruise and his advisers were considering Paramount's new offer of $2 million per year in development money when Redstone dropped his bombshell. The news gave rise to speculation that Paramount has run out of cash, as it reportedly has told other development partners with which it has deals to use their own cash for the rest of the year, with the proviso they will be reimbursed come 2007.
12. Endorsed US President George W. Bush for re-election in 2004, saying that "the reason was simple: Republican values are what U.S. companies need. I look at the election from what's good for Viacom. I vote for what's good for Viacom. I vote, today, Viacom." Viacon owns - among many other media outlets - CBS Television, which is claimed by conservatives, who accuse it of being part of "the liberal media", to slant its news coverage in favor of the Democratic party.
13. Viacom, the media conglomerate that Sumner built, considered separating into two companies to revive its sagging stock price. [March 2005]
14. He was awarded a Star on the Hollywood Walk of Fame at 7000 Hollywood Boulevard in Hollywood, California on March 30, 2012.
15. He was the son of Belle (Ostrovsky) and Michael Rothstein/Redstone. His paternal grandparents were Russian Jewish immigrants, and his maternal grandparents were Polish Jews.