It's been roughly two decades since the gates to the massive Carrington manor have been opened and yes, a lot has changed from then until Dynasty Season 1 Episode 1.
A few things have remained the same, however: we live in a society run by dynasties (just look at the First Family), we are motivated by money and power, and the series focuses on billionaire businessman Blake Carrington, who runs energy behemoth Carrington Atlantic.
Despite his stature, he plays second fiddle to the main protagonists, the two most important women in his life, his daughter Fallon, and his soon-to-wife Cristal.
Fallon is cutting, underestimated and highly skilled at getting intel from other companies, In fact, she's banking that her skills and persistence will force her father to give her the C.O.O position she's been eyeing for 5 years.
She's shocked to find out that isn't the case when she meets Cristal, a PR executive who brings the modern touch to the antiquated company and her father's new fiancee.
Immediately, the two declare each other rivals and Fallon tries to put a halt to this marriage with the oldest trick in the book: sending her chauffeur/hook up to spy on Cristal.
He captures Cristal and her ex Matthew embracing and Blake isn't pleased. He realizes that he might loose Cristal, who plays middleman in the family drama, and adds the title of C.O.O to her already promised title of Mrs. Carrington.
She accepts simply in spite of Fallon and they speed up the wedding to make things official.
Simultaneously, Matthew, the company's field engineer, accepts one last job that almost costs (or cost) him. him his life. It's unclear if Matthew perishes in the explosion but according to his wife, who seemed to have some memory loss when we first met her, he did die.
Elsewhere, Steven, Blake's gay son returns hoping for an apology. Instead, he gets pimped out by his dad to score another deal with energy-friendly Windbriar.
Steven also hooks up with Cristal's nephew Sam (originally Sammy Jo).
Anders, who was also skeptical of Cristal's interests in the family dynasty, hires a private investigator to uncover her darkest secrets.