|“||I'm Fallon Carrington. I run this town, I make the rules, and I always win.||”|
— Fallon Carrington
Fallon is a charismatic, manipulative, and fiery heiress as intelligent and business savvy as her millionaire father Blake Carrington. She knows what she wants and gets it, and she has her plans set on making a name for herself outside of her father. What first started as coming to see her father in hopes of a C.O.O. promotion at Carrington Atlantic, is soon thwarted by the news that her father will be marrying Cristal Flores, and has been given the promotion instead, creating an unforgettable rivalry. After Blake refuses to give Fallon a job of importance in his company, she teams up with Jeff Colby, her father's mortal enemy, and he offers her financial backing to be chief executive officer of Carrington Windbriar, her own company that she's starting which will also be Blake's new competition.
Fallon can be described as sharply intelligent, competent, charismatic, and savvy. She knows what she wants and isn't afraid to go after it, even if it means manipulating the situation to better benefit her needs. She is charismatic, outgoing, and the center of all parties. She can appear cold-hearted which is fueled by her sarcastic quips. At first, her intentions were set on becoming the C.O.O. of Carrington Atlantic, until she felt betrayed by her father and decided to switch allegiances.
Fallon wants to establish herself in the corporate world outside of her father's legacy and on her terms. Despite her hard and unflinching exterior, Fallon had a good heart and tends to choose to do the right thing over hurting someone else. For example, when Culhane's family believed that he was an executive at the company and not a limi driver, she covered for him by calling him a good vice-president.
On the flip-side, Fallon tends to talk down to the staff at The Carrington Manor and brushes off most problems as beneath her. She can be territorial and fiercely protective of her family and, subsequently, their companies. While she is riddled with trust issues, when Fallon does let someone in, she loves them unconditionally and would do just about anything for them.
At the beginning of the series, their romance became steamy and they fall in love. However, Fallon uses him for her gain and sometimes when she's around Jeff Colby, Michael can be somewhat jealous and they broke up. At the end of the Thanskgiving Episode, Michael and Fallon share a friendly pie.
The season 2 premiere Fallon accepts Michael's proposal and the two are now engaged. However, Fallon breaks it since he lied to her about Ada.
Their relationship began while they were both in high school. They later agreed to become business partners to help found Morell Corp and became close friends. Their relationship later turned into a romance and they kissed. They nearly married, until Fallon found out he was playing her. In the episode Dead Scratch, Fallon learns that Jeff is her half-cousin.
Knowing Jeff's sinister plan to take Carrington Atlantic away from Blake, Fallon enlists Liam, then a stranger, to marry her. The marriage prevented Fallon and Jeff's from being legitimate. To keep up appearances, Fallon and Liam pretend to be together for a few weeks per their contract. However, their relationship became a romantic one when Liam fell in love with Fallon. He asked her out on a date in Use or Be Used, but Fallon stood him up to confront Michael after she learned of his father's illness. She rejected Liam and decided to pursue a relationship with Michael, angry to learn Liam was not just a writer, but apart of the Van Kirk clan as well.
To sell CA to the Van Kirks, Fallon and Liam pretended once again to be married in Twenty-Three Skidoo. She remained loyal to Michael but questioned her feelings, so she decided to end their charade by hosting a divorce party ("Queen of Cups"). Liam and Fallon shared a last kiss that sparked their passions, but she spurned him for Michael and cut her communications with him. Just as Liam began to move on with formal flame Ashley, Fallon buckled under the weight of Michael's lies and admitted her feelings for Liam. She attempted to recapture his attention but he rejected her for her behavior in The Sight of You. Fallon later purchased a publishing company in How Two-Faced Can You Get? but to her surprise, the company was selling Liam's book, resulting in an emotionally-charged feud. Fallon reads Liam's book, which isn't the Van Kirk novel he was working on in season one, but about Fallon. Near the end of the episode Life Is a Masquerade Party, they finally became a couple, and in Deception, Jealousy, and Lies, Fallon proposes.
After being assaulted in Deception, Jealousy, and Lies, Liam suffered from a head injury resulting in retrograde amnesia. When Liam wakes up in the hospital ("Guilt Trip to Alaska"), he doesn't recognize Fallon. She attempts to jog his memory with artifacts from their past dates to no avail. Laura Van Kirk continuously thwarts her, finally accumulating in a restraining order against Fallon and betrothing Liam to Ashley. Fallon sends Sam to give Liam his original manuscript that details their relationship in Something Desperate. Liam decides to not go through with his wedding to Ashley but is also disgusted by the girl depicted in the manuscript, and can't be with Fallon either. In "A Used Up Memory," Liam finally regained his memory of Fallon and their relationship. Despite Fallon's budding relationship with Evan, she returns to Liam. However, Adam warns Fallon that Liam could be a victim of backsliding, in which he could forget the details he had just recalled ("Shoot From the Hip").
|Dynasty: Season 1 (22/22)|
|"I Hardly Recognized You":||"Spit It Out":||"Guilt is for Insecure People":||"Private as a Circus":||"Company Slut":||"I Exist Only For Me":||"A Taste of Your Own Medicine":||"The Best Things In Life":||"Rotten Things":||"A Well-Dressed Tarantula":||"I Answer to No Man":|
|"Promises You Can't Keep":||"Nothing But Trouble":||"The Gospel According to Blake Carrington":||"Our Turn Now":||"Poor Little Rich Girl":||"Enter Alexis":||"Don't Con a Con Artist":||"Use or Be Used":||"A Line From the Past":||"Trashy Little Tramp":||"Dead Scratch":|
|Dynasty: Season 2 (22/22)|
|"Twenty-Three Skidoo":||"Ship of Vipers":||"The Butler Did It":||"Snowflakes in Hell":||"Queen of Cups":||"That Witch":||"A Temporary Infestation":||"A Real Instinct for the Jugular":||"Crazy Lady":||"A Champagne Mood":||"The Sight of You":|
|"Filthy Games":||"Even Worms Can Procreate":||"Parisian Legend Has It...:||"Motherly Overprotectiveness":||"Miserably Ungrateful Men":||"How Two-Faced Can You Get":||"Life is A Masquerade Party":||"This Illness of Mine":||"New Lady in Town":||"Thicker Than Money":||"Deception, Jealousy, and Lies":|
|Dynasty: Season 3 (8/20)|
|"Guilt Trip to Alaska":||"Caution Never Won A War":||"Wild Ghost Chase":||"Something Desperate":||"Mother? I’m At La Mirage":||"A Used Up Memory":||"Shoot From the Hip":||"The Sensational Blake Carrington Trial":||"The Caviar, I Trust, Is Not Burned":||"What Sorrows Are You Drowning?":|
|"A Wound That May Never Heal":||"Battle Lines":||"You See Most Things in Terms of Black & White":||"That Wicked Stepmother":||"Up A Tree":||"Is The Next Surgery on The House?":||"She Cancelled...":||"You Make Being a Priest Sound Like Something Bad":||"Robin Hood Rescues":||"My Hangover's Arrived":|
- Blake wanted her to be named Ellen after his mother but the final choice went to Alexis for her first name. Her middle name was revealed to be Morell in Private as a Circus and she subsequently used it as the name of her company, Morell Green Energy Corporation.
- As revealed in I Answer to No Man, Steven and Fallon have another older sibling, a boy named Adam, who was kidnapped as a baby and was believed to be dead by their father.
- Fallon tore her Anterior Cruciate Ligament (ACL) sometime before the start of the series. ("A Taste of Your Own Medicine")
- Fallon loves bacon and doesn't like to miss her morning bacon.
- Fallon was conceived down by the lake at the Carrington Manor. ("Enter Alexis")
- Fallon's first baby food was white truffles. ("Enter Alexis")
- Fallon suffers from astraphobia, the fear of thunder and lightning. ("That Witch")
- Her favorite color is cobalt blue and her favorite flower is white lilies. ("A Used Up Memory")
- In the original series, Fallon was the second oldest and the older sister of Steven. In the reboot, she is the youngest child of Blake and Alexis.
- In the original series Blake was the lead character. In the reboot, Fallon is the lead character.