At first, Chuck didn't want the responsibility, just his inheritance (not small) when he turns 18. But Blair talks him into becoming the CEO Bart believed he could be. Why else would he leave the company to him?
So he's in, at least for the short term.
Chuck manages to screw it all up when shady uncle Jack tempts him with drugs and prostitutes to celebrate. He cancels a celebratory dinner with Blair, who at the same time is planning a brunch for Chuck - which the board of Bass Industries will be attending - the following morning.
Blair, for some reason, is easily taken in by Jack.
She therefore allowed herself to be suckered into Jack’s scheming ways, which involved an awkward brunch in which the board of Bass Industries walked in on Chuck Bass doing drugs with prostitutes in his office.
Jack had summoned them to go meet him in his office, where he was "hard at work."
It was an embarrassing first impression in general, but that’s not the half of it. According to a piece of fine print Chuck failed to read, his takeover of Bass Industries is bound by a morality clause.
If he acts inappropriately, the board has the option to replace him with his legal guardian, which is Jack. The board decided to exercise this option pretty much immediately, to no one’s surprise.
When the fiasco went down, Chuck lashed out at Blair for planning it in the first place and trying to act like "the wife." After he realizes he’s losing everything, he tries to apologize to Blair, but she’s not having it.
She tells him that he’s the only one who didn’t believe in himself, and that she can't watch him self-destruct any longer.
After Blair throws his flowers back in his face, he goes home and rips off his tie - Bart's. Sad and broken, one can only imagine what he does now.
While this is going on, everyone else is dealing with Rufus and Lily’s son.
Dan is the only one who knows that’s the real reason Rufus and Lily are in Boston. Since Rufus won’t let him tell Serena this, as Lily wants to herself when the time is right, he goes to great lengths to avoid her.
Of course, this attracts the attention of Penelope's posse, who set out to try and figure out why D is being so evasive.
They naturally think that he’s cheating on her, and set out to find proof. Digging through his locker yields nothing besides a tuna fish sandwich, so they have to get creative. Nelly Yuki runs into Dan and Vanessa at Dylan’s Candy Bar and steal Dan’s phone from his jacket pocket.
She later intercepts an awkward text from Vanessa that clearly spells out Dan’s secret. This ends up on Gossip Girl, where everyone sees it (at the most awkward brunch ever, no less).
Everyone makes an enormous deal about the fact that Dan and Serena share a sibling, but S is actually pretty understanding about Dan lying and not taken aback as much as one might think
Jenny and Eric are spending a lot of time together this week, and Eric calls Jenny out for being completely annoying all the time - specifically, for interjecting herself into Eric’s time with his boyfriend Jonathan.
However, once they found out they share a sibling, they decided to let it make them closer instead of keep fighting. Dan and Serena effectively let this make their relationship better instead of worse this time, too.
When Rufus and Lily returned from Boston, they walked right into a family portrait, with all four of their kids sitting around the kitchen counter eating peanut butter and jelly sandwiches.
What the kids don't know is that Rufus and Lily found out their long-lost brother is dead. That’s what his adopted father told them, at least.
Of course, we later learned that was all a lie to make R & L go away and the long-lost son is still out there somewhere. How will they find him?
Also, since Rufus and Lily slept together after she confessed her love for him during the trip, will this spill over into their UES lives?
(Source: TV Fanatic)