How did Summer Redstone make his fortune?

In 1923, Summer Redstone was born into a Jewish immigrant family in Boston, USA. When Redstone was a child, his family was not wealthy, and his father was a hawker selling oilcloth.

When Redstone was young, he was engaged in legal work, working for the Ministry of Justice and a private lawyer, with an annual income of 100,000 US dollars. At that time, he believed that law could make the world a better place. While Redstone was running his own law firm, Redstone's father also achieved some success in the entertainment business and founded the Northeast Cinema Company. Later, he discovered that although he had been very successful as a lawyer for 10 years, it was still a business behavior, not a humanistic behavior. Since it was business, why not start with his own family business? At that time, his father built the first drive-in theater in New York. The business was very good and later became the Northeast Theater Company, a chain of theaters. Redstone gave up the law firm that brought him huge income and devoted himself to the entertainment business run by his father. At that time, his father's annual income for Redstone was US$5,000. Redstone's passion for success and business talents began to find a place to display. For Redstone, the fierce competition in the mall inspired his strong fighting spirit and brought him a great sense of satisfaction.

Under Redstone's management, Northeast Cinema Company's business quickly expanded to the entire United States and was renamed National Entertainment Corporation. Developing a small company with only a few drive-in theaters into a large chain of theaters with 400 screens, Redstone's talent and passion are fully realized in his own world. However, for Redstone, the success at this time was just the prelude to his dream of struggle.

In 1979, while attending a party at Warner Bros., Redstone suffered a fire in the hotel. During the fire, Redstone was deeply trapped in the sea of ????fire. 45% of his body's skin was burned by the fire, and his right wrist was almost separated from his body. For a 55-year-old man, survival has become a serious problem. It was Redstone's passion to win and perseverance that enabled him to win in a direct dialogue with death and survive the most difficult years of his life. The 55-year-old Red Stone is like the phoenix in Chinese mythology, reborn from the ashes and making his life shine with more dazzling brilliance.

In June 1987, 63-year-old Redstone successfully acquired the media giant Viacom amid fierce competition. With Viacom, Redstone began to plan his media kingdom and took his first solid step towards becoming an international media giant. The acquisition of Viacom is only the first step for Redstone to build his own media empire. Through the acquisition of Viacom, Redstone controls the MTV network's 5 TV stations, 8 broadcasters, and 18 TV stations with 930,000 subscribers. Cable TV networks and powerful media such as Viacom parent production company and Viacom parent company. Redstone's media empire in the United States is beginning to take shape.

In 1994, the movie "Forrest Gump" was produced. This inspirational film is full of philosophy of life and leaves people with deep thoughts about life. Forrest Gump, who is mentally retarded but never gives up, deeply moved the global audience. . At the same time, the jaw-dropping special effects in the film allow people to fully experience the magical charm of movie magic. "Forrest Gump" is also considered one of the greatest post-war American films. In 1995, "Braveheart" deeply shocked the world. This magnificent epic film was full of sublime and tragic beauty. The dedication of the bloody struggle for justice and freedom once again made the audience feel the sublimity of film art. charm. In 1997, the romantic Scottish bagpipes in "Titanic", the brilliance of humanity in crisis, and an unswerving love of life and death, brought a romantic and poignant touch to the world, and deeply shocked people. and long-lasting cries. "Titanic" is one of the most successful films in film history, achieving the greatest win-win between box office value and artistic enjoyment. Its huge production, magnificent scenes, epic tragic beauty and touching love make "Titanic" a classic among classics.

In Redstone’s view, 98% of TV eyeballs are outside the United States. After the acquisition of Viacom’s parent company, Redstone worked hard to promote the development of overseas markets.

In 1997, due to the possible failure of the acquisition of Blockbuster, Viacom's stock price plummeted, and two top managers also resigned to join the competitor's camp. At the company's annual meeting, shareholders called for Redstone to step down. Redstone said: "Now I control the best media company in the world. How did I get to this point? I rely on diligence, responsibility and wisdom." This year, Redstone came to After arriving in China, I have had an indissoluble bond with China ever since. In 1998, Hollywood studios reached a revenue sharing agreement with Blockbuster, which greatly improved Viacom's financial situation, and Redstone once again demonstrated his outstanding talents. Viacom sold Madison Square Garden for $1.1 billion, half of USA Networks for $1.7 billion, and most of Simon & Schuster for $4.6 billion, which significantly reduced Viacom's debt.

In 2000, the U.S. Federal Communications Commission (FCC) cleared the way for Viacom to acquire CBS, and Viacom became a company that includes CBS, UPN, MTV, Nickelodeon, Showtime , The Nashville Network and other media giants, with 38 television stations and 162 radio stations. Redstone promised to give CBS CEO Kamakin operating control. In 2002, Viacom's parent company MTV Global Television Network and China's Hunan Satellite TV *** jointly produced the first MTV Asia Awards China canvassing party. In 2004, he co-hosted the Big Search event with China Hunan Satellite TV ***, and the response was very strong.

At the age of 63, he acquired the parent company of Viacom, at the age of 70, he acquired Paramount Pictures, and at the age of 76, he acquired CBS... In the past 50 years, Redstone's bold expansion has transformed him from a motorcycle theater owner , became the leader of a media empire with an annual revenue of US$24.6 billion. His creed is "APassion to Win" (Passion to Win). This is also the title of his autobiography. No complaints, just tenacity. "My values ??have never changed, and that is the passion to always pursue winning. This passion embodies all my meaning." It was this passion for winning and perseverance that enabled Redstone to spend the most difficult time in his life. Difficult years, and optimism: "You don't necessarily need to be close to death before you can realize the value of life. Life can start at any time as long as you are willing." "Everything is possible. If you want to be truly successful, It doesn't matter if they are a businessman, a doctor, a lawyer or a teacher. My passion for work has never diminished. The will to win is the will to survive. Makes me feel forever young."

As one of the world's largest media and entertainment groups, Viacom's parent company is involved in film, television, publishing and other entertainment-related retail businesses. In 2003, the company's market value was 87 billion. USD, the company owns CBS, MTV Global Television Network, Paramount Pictures, 19 television stations, 1,300 movie theaters and other industries.

What’s interesting is that the person in charge of the media giant will succumb to feelings rather than professional analysis. For example, in 1961, Redstone made a movie “101 Dalmatians” without any middlemen involved. "I bought a lot of Disney stock. After watching "Star Wars", he immediately left the theater and purchased 25,000 shares of 20th Century Fox over the phone. Fortunately, these intuitive decisions brought him a lot of money. Successful people are all similar. But entrepreneurs like Redstone who trust their intuition, have the passion to win, and persevere throughout their lives are still rare.

Having a leader with a wide-ranging reputation around the world is a very lucky thing for a company that needs to expand globally. Redstone is exactly that for Viacom. kind of productivity.

Redstone never tires of doing this. This tall old man conscientiously plays the role of the diplomatic ambassador of the media empire he created. And wherever he goes, he creates a whirlwind no less than any star. His slightly deformed right hand due to burns, his staggering steps and his head full of white hair are the marks left by the years on Redstone, but the gifts given to him by the years are also generous - wisdom, humor and a young heart. Anyone who has close contact with this world-class business leader will admit that Redstone, known as the "leader of business leaders", has a strong personality. When he said on the Hunan Satellite TV studio stage, "I am Viacom mother, I came here to win your love", everyone present was moved.