Dynasty begins with heiress Fallon Carrington unhappy to find her billionaire father Blake engaged to Cristal, a rival employee at the family company. When Fallon’s machinations to separate the couple backfire and cost her a promotion, she allies with Blake’s nemesis and former employee, Jeff Colby, and strikes out on her own. Meanwhile, the arrival of Cristal’s opportunistic nephew Sam—who becomes romantically involved with Fallon’s wayward brother Steven—threatens to expose her shady past. The Carringtons form a united front in the wake of the suspicious death of Cristal’s former lover, but things at the mansion do not remain harmonious for long. Later, Blake’s ex-wife Alexis, Steven and Fallon’s mother, returns to the manor with an agenda.

The reboot updates several elements from the 1980s original, including moving the setting from Denver, Colorado to Atlanta, Georgia; making Steven’s homosexuality a nonissue to Blake; and changing gold digger Sammy Jo from a woman to a gay man. Additionally, in the new series, both Blake’s new wife and her nephew are Hispanic, and both chauffeur Michael Culhane and the Colby family are African-American.