Sumner Redstone and Shari Redstone reconciled WireImageWhen Forbes last published an extensive profile about Sumner Redstone, the takeaway was that the billionaire media mogul, who didn’t rise to prominence until he was in his 60s, was running out of time. Sumner Redstone’s controlling interest in the company is held through National Amusements, an investment vehicle that began as a chain of drive-in movie theaters founded by Sumner’s father. A seven-member family trust, whose members include Shari Redstone, her son, Tyler Korff, and others with connections to the Redstone family, will have voting control over the elder Redstone’s holdings on behalf of his grandchildren and their descendants. The same pugnaciousness that propelled Sumner Redstone to create a media juggernaut also drove wedges between him and his kids. Sumner Redstone’s battles with his daughter were also public.

Source: Forbes August 13, 2020 16:21 UTC