One of the world's oldest multi-billionaires, media mogul Sumner Redstone, has died aged 97, CNBC reported.
Redstone died on Tuesday, according to a report from his National Amusements company. The cause of the death is not reported.
Sumner Redstone is best known for transforming the family-run movie theater chain into a vast empire that includes CBS and Viacom. Redstone owned a controlling stake in Viacom and CBS (about 80%).
In November 2019, his fortune was estimated at $ 3.9 billion. Amid the COVID-19 pandemic, in May 2020, Redstone's fortune was estimated at $ 3 billion.