Media tycoon Sumner Redstone has died at the age of 97

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Billionaire and media mogul Sumner Redstone, who turned his family’s cinema network into a multi-billion dollar empire that includes CBS and Viacom, passed away yesterday (Tuesday) at the age of 97.

Read more in Calcalist:

“My father led an extraordinary life that not only shaped the entertainment as we know it today, but also created a wonderful family heritage,” said Sherry Redstone, Sumner’s housewoman and chairman of Wycom-CBS. “Through it all, we shared a great love for each other. , And he was a great father, grandfather and great-grandfather. I’m so proud to be his daughter and I will always miss him. ”

Sumner Redstone Photo: Reuters

Redstone, who used to say he would live forever, skeletonized about 80 percent of the voting shares of Viacom and CBS through his private holding company, National Amusements. In November 2019, his fortune was estimated at $ 3.9 billion. On December 5, 2019, the first trading day of the merged company Viacom-CBS, it dropped to a volume of $ 2.6 billion. During the Corona plague, its fortune in May 2020 was estimated at $ 3 billion.

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