The Young and the Restless Recap, June 23, 2025: Cane tries to make a trade with Victor

On the Monday, June 23rd episode of The Young and the Restless, Cane reflects on how Colin’s death affected him, guests speculate about how Cane got his wealth, and Lily vows to get answers.

What happened on The Young and the Restless

In Nice, Cane’s guests demanded to know why Cane had asked everyone to be there. Cane claimed that he’d invited them for a wonderful visit to the Riviera to meet the man calling himself Aristotle Dumas. Cane admitted that the past year had been exhausting, and he’d decided to retire Dumas and return to Genoa City as Cane Ashby. Lily commanded that Cane end the secrets and games and tell them what it was all about.

Cane explained that many of them had inspired him over the years, and the party was a way of thanking them. Damian wondered why Cane hadn’t put his real name on the invitations and thrown the event closer to home. Cane acknowledged that he’d let people down, and he’d been afraid no one would show up. Cane looked forward to speaking with each of his guests one-on-one while he made their time there unforgettable. Lily ran out, with Devon and Damian following her. Victor insisted on speaking with Cane immediately.

After Victor and Cane stepped away from the party, Phyllis understood why Lily had met with Cane first, but she asked why Amanda hadn’t simply told her. Amanda asserted that she hadn’t been about to defy her boss, but Phyllis countered that Amanda’s boss was Cane and not a billionaire businessman. Amanda clucked that Phyllis hadn’t been paying attention, and Phyllis realized Amanda respected Cane. Phyllis remained determined to get in on the ground floor of Cane’s master plan.

Phyllis told Nick that she was still on a mission – especially since she knew the guy behind Dumas. Nick couldn’t remember Phyllis and Cane being tight. Phyllis chirped that she and Cane weren’t enemies, and she respected someone who wanted to reinvent themselves. Phyllis figured that Cane was the same guy with a different name and net worth. Nick warned that something had changed, but the question was how much.

Audra noted that Cane was easy on the eyes and nothing like Kyle had predicted. Kyle recalled that Cane had worked for Jabot but hadn’t been a mogul then. Kyle doubted that anyone but Lily had even thought about Cane. Audra begged Kyle to tell her everything he knew about Cane for the sake of their competition. Kyle guessed that she wanted to know if Cane was single, but she swore she was happy with Nate. Audra teased Kyle for getting jealous.

Jack voiced surprise that Billy hadn’t had any idea that Cane was Dumas. Billy muttered that there wasn’t a family group chat, and he explained to Sally that Cane had used a fake name when pretending to be his long-lost half-brother. Billy groused that his mother adored Cane, so there was a sibling rivalry even though the men weren’t blood, and Jill had pitted him and Cane against one another. Jack remembered a time when Billy and Cane hadn’t been at odds. Sally was confused because Billy had talked to Dumas but hadn’t mentioned Cane. Billy admitted that he hadn’t connected the voice, and he maintained that Cane wanted Chancellor for himself. Jack thought it was just the tip of the iceberg.

Diane argued that there were too many people there with no connection to Chancellor. Billy contemplated whether Cane had been trying to see how Billy felt about Jill. Billy referred to Katherine’s will, in which she’d left Chancellor to Victor but wanted Cane to run it. Billy speculated that perhaps Cane thought he deserved the company. Phyllis intruded on the conversation upon hearing the mention of Chancellor.

Phyllis chided Billy for failing to mention his big brother when talking about his conversations with Dumas. Phyllis imagined that Cane had been too busy counting his money to help Billy get Chancellor back. Jack considered it a good thing because Abbott Communications deserved Billy’s full attention. Phyllis taunted that every day could be Billy’s “bring your boo to work” day, and Sally pulled Billy away. Phyllis asked if Jack thought Cane was after Chancellor. Jack replied that he couldn’t rule anything out.

Sally suggested that she and Billy go home and launch Abbott Communications by breaking the story about Dumas’ real identity before anyone else beat them to it. Billy sensed that there was something more going on than what Cane was saying, and he vowed to find out what it was.

Jack complained to Nikki about how Victor had stolen Cane’s thunder. Nikki believed Victor had done it so Cane would know Victor had the upper hand. Jack cautioned that he wouldn’t count Cane out yet.

Lily, Devon, and Damian returned to the train. She couldn’t believe Cane was the person they’d been talking about for months. Lily wailed that what made it worse was that she and Cane had been married in France, yet he’d led her there under false pretenses. Lily blasted Victor for leading them into an ambush again. Devon asked if Lily would have made the trip solely to find out how Cane had really become a tycoon.

Lily indicated that Cane had never been that wealthy before, nor had he run his own company or shown single-minded ambition. Devon recounted that Cane’s father had been a crime boss in Australia, and Damian surmised Cane had learned at his daddy’s knee. Lily conceded that Cane hadn’t wanted to be anything like his father. Devon reasoned that six years could change someone.

Devon inquired whether the twins had said anything about Cane’s wealth. Lily reported that she hadn’t heard anything, and she and Cane had only talked briefly about the kids until they’d no longer been on good terms. Lily relayed that she and Cane had been civil until he’d crossed a line she couldn’t forgive. She explained that she and Cane had been in L.A. to help Mattie through a personal crisis, and she and Cane had gone for coffee once their daughter had gone back to school.

Through a flashback, Lily told the story: At a coffee shop, Cane credited Lily for getting Mattie through a tough time, and they discussed the importance of kids having a parent they could trust. Cane hesitantly informed Lily that he’d reconnected with Colin, who had turned his life around and was helping with Cane’s business dealings. Lily condemned Colin for destroying their family and hurting people she loved. Cane swore that his father regretted it, and he confided that Colin was sick and didn’t know how much time he had left. Lily confessed to Devon and Damian that something had felt off to her at the time, and the more Cane spoke, the more uncomfortable she’d become.

Lily remembered the man she’d married being loving, protective, and nothing like Colin. Lily mused that things had been good for a while, but there had been no going back once they’d gone wrong. She continued recalling: Lily vehemently opposed the twins seeing Colin, who’d once planned to have them kidnapped. Cane called his father a sick old man who had changed. Lily spat that she’d given Colin the benefit of the doubt until he’d tried to steal Devon’s money, and that had been unforgivable.

Cane pleaded that all Colin had left were regrets, and it was important to him that the kids know his father. Colin contended that people deserved forgiveness, but Lily countered that forgiveness needed to be earned. Lily ordered Cane not to drag their kids into it, and she spat that she didn’t want to see him again. Cane reached for her hand, but she pulled away.

Lily questioned whether Cane had learned anything over the years, if he’d thought he could trust their kids with Colin. She added that she pitied Cane for being so gullible, and she wondered how it was even possible that he’d been building an empire as Aristotle Dumas the whole time. Damian inquired whether Cane had ever mentioned The Count of Monte Cristo. She recalled that Cane knew Charlie loved the book, and it made it sicker that he’d used his alias like a clue in a game.

Devon and Damian suggested they head home, but Lily realized she couldn’t leave until she knew everything there was to know for the sake of her children. She resolved to find out everything Cane had done over the past six years.

Meanwhile, Cane offered Victor something to drink, noting that he’d stocked Victor’s signature tequila. Victor ordered Cane to cut the bull and name what he wanted from Victor and his family. Victor compared the elaborate show to something Colin would do, and he inquired whether Colin was behind bars. Cane reported that his father had died six months earlier, and he’d been with Colin in the end.

Victor said he was sorry about Cane’s dad. Cane shared that he hadn’t told anyone because he hadn’t wanted to hear how the world was better off, but Colin hadn’t been the same man in the end. Cane was grateful that he’d made peace with his father, and he admitted that his ascent to power wouldn’t have been possible without Colin. Victor assumed Cane’s empire was built on theft and dishonesty. Cane insisted that Arabesque was legitimate, and his dad had wanted it that way.

Cane recounted that he’d found out Colin had been ill six years earlier, and his father had wanted to make things right. Cane swore that all the money Colin had swindled had been given back, and they’d sold some land Colin had owned to invest in cryptocurrency. Cane was glad that his father had seen him get the success Colin had chased in the wrong ways, but he regretted that he hadn’t been able to save Colin’s life.

Victor applauded Cane for amassing an enormous fortune in a short time. Cane announced that he was ready to give up the businesses under Dumas’ ownership. Victor surmised Cane had gathered everyone there to auction off his properties. Cane clarified that he was only offering them to Victor.

Cane explained that his mortality had hit him when he’d lost his father, and he’d thought about what to do with the rest of his time on earth. Cane recalled that he’d always been running from something when he’d needed to start over before, but there would be no more hiding that time. Cane intended to make a fresh start for all the right reasons, and it meant going a new direction in business.

Cane proposed that he trade a giant chunk of his empire to Victor in exchange for control of Chancellor. Victor snickered. “Ain’t gonna happen,” Victor huffed.

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