Steve Bing, a prominent film financier, died on June 22, 2020, at age 55. Bing died by suicide, TMZ reported, with sources telling the outlet “he’d been depressed about lack of human contact during quarantine.”
For those who aren’t familiar with Bing’s life, he was a student at Stanford University when he dropped out to forge a career in Hollywood, founding Shangri-La Entertainment in 2000, per TMZ. The company helped finance movies such as The Polar Express, Beowulf, and Rock the Kasbah, to name a few credits, Cinema Blend noted. Bing co-wrote the 2003 film, Kangaroo Jack.
Outside of Hollywood, Bing established himself as a prominent Democrat and donated heavily to the political party, according to the Los Angeles Times. He was also a personal friend of Bill Clinton.
The Los Angeles Times described Bing as “media-shy” and adverse to public attention. It wasn’t until 2000 when he got involved with then-girlfriend, Elizabeth Hurley, that Bing became a recognized figure. Bing dated the British actor and model for 18 months from 2000 to late 2001, with the pair welcoming a baby boy together in 2002. The birth became a big topic of discussion in the media, as Bing initially questioned whether he was the boy’s father, The Los Angeles Times reported at the time. Bing’s massive net worth only increased public curiosity about the case.
So how much money did Bing have when he died? The philanthropist had amassed a sizable fortune during his life.
Steve Bing came from family money
Elizabeth Hurley gave birth to her son, Damian, on April 4, 2002, claiming that the father was Steve Bing, CNN reported at the time. In response, Bing sued Hurley “to force a DNA test after she said he was the father of her baby,” according to the Los Angeles Times. The June 2002 results proved that Bing was Damian’s father.
Hurley tried to refuse child support payments from Bing, stating, per CNN, “I have always made it perfectly clear to Stephen Bing, the father of my son Damian, that I don’t want any financial help from him whatsoever.” However, as Bing’s spokesperson argued, it wasn’t Hurley’s place to deny the support plan of $160,000 annually until Damian’s 18th birthday.
Speaking of money, the producer’s net worth was estimated at $600 million upon his passing, according to Celebrity Net Worth. When Bing was 18, he inherited the hefty sum from his grandfather, New York real estate mogul, Leo S. Bing, according to The Los Angeles Times.
The topic of Bing’s fortune reentered the news in 2019, when his dad, Peter Bing, allegedly tried to cut Damian and the financier’s other child, Kira, out of his inheritance. Bing claimed his sister, Mary Bing, coordinated with Peter because she wanted the money just for her kids, calling the move a “massive money-grab” in court docs obtained by the Daily Mail. Bing won the case against Peter in July 2019.
If you or someone you know is having suicidal thoughts, please call the National Suicide Prevention Lifeline at 1-800-273-TALK (8255) or text HOME to the Crisis Text Line at 741741.
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