Dynasty begins with heiress Fallon Carrington unhappy when she finds her billionaire father Blake Carrington has teamed up with Hispanic Cristal Flores, a rival employee of the family business.
When Fallon's plots to separate the couple backfire and cost a promotion, she allies with Blake's enemy and former employee, Jeff Colby, and acts on her own. Meanwhile, the arrival of Cristal's opportunistic nephew Sam, who is romantically involved with Fallon's fallen brother, Steven, threatens to expose her dark past.
The Carringtons form a united front in the wake of the suspected murder of Cristal's former lover, but things at the mansion do not remain harmonious for long.