‘Succession’ Fight: Can Logan Roy Save His $18 Billion Fortune?

‘Succession’ Fight: Can Logan Roy Save His $18 Billion Fortune?

It's been a tumultuous 48 hours for Logan Roy. The 84-year-old media mogul welcomed Forbes into his fictional Hamptons estate—at $200 million, the most expensive property on Long Island—still jet lagged after returning from a week aboard his 279-foot, $130 million superyacht, Solandge, off the coast of southern Croatia. He's been in the spotlight ahead of the premiere of the third season of Succession, the hit HBO documentary about his family, on October 17. A pivotal shareholder meeting in two weeks' time will decide the fate of a proxy battle that could oust him from the board of Waystar Royco, the publicly traded, $46 billion (market cap) media and entertainment giant he founded in his 20s. Disastrous congressional hearings recently cast more light on a scandal in the company's Brightstar Cruises division, first reported by New York Magazine, that involved decades of wrongdoing including hush-money payments to women sexually assaulted by former company executives. And then, only a few hours before he was set to return to Waystar's headquarters in New York, came an unexpected dagger in the heart: A bombshell press conference by his son and former heir apparent, Kendall Roy, accusing him of covering up the Brightstar scandal.