Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, October 23, 2020

Steve Bing worth $300K at time of his death despite $600M inheritance: reports

BingSteve Bing, a film producer and financier, inherited a great fortune from his grandfather, Leo S. Bing, but reportedly was only worth $300,000 at the time of his death. 

When Bing was 18 years old, he was given $600 million, but debt swallowed up a lot of those assets. 

In June, Bing died from suicide at the age of 55. Bing's daughter Kira, was put in charge of Bing's estate. 

Elizabeth Hurley, with whom Bing shared a son, stated, “He was a good man. He gave to so many good causes. . . “He was a philanthropist at heart and when we were together, which was a very long time ago, more than 18 years ago, I loved him very much. So I really hope people will retain fond memories of him.”

Bing was an unselfish man who gave a lot of his fortune to philanthropies. 

See Jessica Napoli, Steve Bing worth $300K at time of his death despite $600M inheritance: reports, Fox News, October 21, 2020. 

https://lawprofessors.typepad.com/trusts_estates_prof/2020/10/steve-bing-worth-300k-at-time-of-his-death-despite-600m-inheritance-reports.html

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