Sumner Redstone net worth: Best known as the majority owner of Viacom and various other media conglomerates, Sumner Redstone has a net worth of $6.4 billion. Sumner Redstone is the Chairman of the National Amusements theater chain and also owns large portions of MTV, BET, CBS, Viacom, and Paramount Pictures. He also contributes large amounts to various philanthropic organizations that work with children.
He's accumulated that net worth through Viacom and the various other media companies he and his family have a controlling interest in, including CBS Corporation, Viacom, MTV Networks, BET, and Paramount Pictures. Redstone's career as a media magnate began with his family's interest in the movie theater chain National Amusements. It was during his time with that corporation that he came to the conclusion that any successful media empire would be built on content, while other aspects of the media industry (such as channels of distribution) should be secondary to the foundation of content being distributed. It was during this time that Redstone coined that somewhat famous phrase that "content is king." The Redstone family has eventually ballooned to include everything from cable channels like MTV and Comedy Central, to movie studios like Paramount Pictures. Through these various enterprises, Redstone has always placed an emphasis on providing quality (or at least popular) content, and the result is the enormous net worth he has today. Redstone was recently embroiled in a controversy involving the attempted bribery of a journalist, but he remains one of the more recognizable media magnates in business today.