Sumner Redstone — who turns 91 on Tuesday — is holding his own Sumner Sale.
The Viacom and CBS executive chairman has has sold hundreds of millions of dollars in stock in the two companies this month.
He has pocketed about $236 million from exercising Viacom and CBS options and selling the underlying shares, according to WSJ.com. Its his biggest cash-out in five years at just over $300 million since the beginning of the year.
It’s not that the media mogul needs the cash, Redstone last year received salary and bonus totaling $10.2 million for his role at Viacom and $11.75 million from CBS, according to company filings.
He also took home about $17 million in dividends in the most recent quarter from his stakes in both companies.