a brush with death that created Sumner Redstone.

When fire engulfed the Copley Plaza Hotel in Boston one night in 1979, Redstone was left hanging from his windowsill by one hand, the other and both his legs crippled by the burns which covered 40 per cent of his body. His survival was an extraordinary act of will and, as described in his book, he recovered "with a vengeance". It was after that that he joined the Wall Street frenzy of the 1980s, using his family firm of local cinemas to become the most ferocious corporate raider of them all.

"He's not a man who has many friends," a Hollywood 'insider', thought to be Spielberg himself, confided to Vanity Fair. "He doesn't know what a real friend is. He has no sense of other people. It's all about him, and it always has been. He has a tremendous ego. But he has no grace, no charm. He's not loyal to anyone but himself."

Daughter Shari is a chip off the old block, fabled for shopping with coupons

So there has been no sympathy as the value of Viacom and CBS have plummeted 67.5 per cent and 78 per cent respectively. The New York Times is now wondering "whether Mr Redstone remains a billionaire".

His last asset is the original movie theatre company, also his holding company, National Amusements. It is run by his daughter Shari, 54, whom he has regularly sued and been sued by. She is a chip off the old block - fabled for shopping with supermarket coupons regardless of her wealth. The business press anticipates fire sales, but wonders if even the holding company is worth enough to meet their debts.

When ordinary Americans turn against the 'banksters' and barons as they did in the last Great Depression, Redstone is set to become the national caricature of the mean-spirited Dickensian miser who pays the price with his own bankrupt soul.