Sumner Redstone is supposedly a billionaire who parlayed a small, family owned chain of movie theatres into a major position in NYSE listed companies with world-wide exposure.  Now it turns out that Sumner, an octogenarian, has placed his primary assets in default to Citicorp for a loan used to pay too much for a 2^nd rate games company.  His kids have objected because the old guy is a cranky about-to-be senile bent on blowing it all, so Sumner has fired his daughter for standing up to him.  His daughter is obviously right in this case and the Board of Directors of the family holding company agrees with her.  Remember Sumner is in residence in Beverly Hills in an aerie fit for a king, or a recluse like Howard Hughes. 
Marvin Davis was yesterday’s news who also turned a small inheritance into a major fortune and then blew it on big living and dumb deals before he passed away a while back in his eighties.  Marvin was a bigger than life dominator who bullied his investors and everybody else in order to get his way and accumulate a billion.  Whining his way along, he picked up 20^th Century Fox, Aspen and Pebble Beach in addition to his oil properties in an amazing string of successful acquisitions.  Old Marvin and Miss Barbara, his wife, proceeded to live high on the dog and thereby p…… away a billion.
The kids sued the estate for theirs in litigation that I believe is still going on.  Miss Barbara sold the Davis family aerie in the Hills and moved into the Beverly Hills Hotel which the Davis’ previously owned.  I believe she’s still there today in Bungalow something or other.
It’s one thing to be avaricious, overbearing and cheap in your youth to get your way, but it seems that men of this character believe they have some magic touch when they get into their eighties.  They then proceed to get stupid as well as dominating and get taken to the cleaners.  Youth for these guys had clarity and purpose that degrades into dumb later on.  Marvin found that out, Sumner is right behind him.