Top Media Executive Takes a Massive Pay Cut. But Shed No Tears. He’s Still Worth $5.4 Billion

Jan 26, 2015  •  Post A Comment

One of the biggest executives in the media business has taken a massive pay cut. Bloomberg reports that Sumner Redstone, executive chairman of Viacom Inc. and controlling shareholder in the media giant, received a cut of about two-thirds to his total compensation in 2014.

Redstone’’s total shrank to $13.2 million, the piece reports, attributing the change to a smaller gain in his pension. Redstone, 91, also controls CBS Corp. and his net worth, according to the Bloomberg Billionaires Index, is $5.4 billion.

The company’s CEO, Philippe Dauman, meanwhile, received a raise, with his compensation rising to $44.3 million, up from $37.2 million in 2013.

The report cites a regulatory filing late last week by Viacom Inc., which owns MTV, Nickelodeon and other channels.

RedstoneSumner Redstone Speaking About Five Years Ago at Boston University


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