Steve Bing worth $300K at time of his death despite $600M inheritance: reports
Debts reportedly needed to be settled first
{{#rendered}} {{/rendered}}Steve Bing, a film producer and financier, was reportedly only worth $300,000 at the time of his death despite inheriting a vast fortune from his grandfather, Leo S. Bing.
At just 18 years old, Bing was left $600 million from the real estate developer, a new report released by Town & Country revealed. But after Bing's death, there were debts that needed to be settled.
"Only about $300,000 is left in liquid assets, which was meant to be bequeathed to the Clinton Foundation, and that’s before debts are settled,” the reports states.
{{#rendered}} {{/rendered}}Bing was 55 years old when he died by suicide in June. The Los Angeles County Medical Examiner-Coroner's Office listed Bing's cause of death to be multiple blunt trauma after a fall.
STEVE BING’S CAUSE OF DEATH REVEALED
In September, a judge ruled that his daughter, Kira, whom he shared with tennis pro Lisa Bonder, would be in charge of his estate.
{{#rendered}} {{/rendered}}Bing also shared an 18-year-old son, Damian, with Elizabeth Hurley. She previously revealed that Bing gave away a large amount of his fortune to charity.
Steve Bing died at 55 from suicide. (Jason Merritt/FilmMagic)
“He was a good man. He gave to so many good causes,” Hurley told Extra. “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.”
Hurley said that in the year before Bing died they had grown close.
{{#rendered}} {{/rendered}}ELIZABETH HURLEY CONFIRMS DEATH OF EX STEVE BING IN HEARTBREAKING TRIBUTE: 'A TERRIBLE END'
"I am saddened beyond belief that my ex Steve is no longer with us. It is a terrible end,” she wrote on Instagram. “Our time together was happy and I'm posting these pictures because although we went through some tough times, it's the good, wonderful memories of a sweet, kind man that matter," a statement from Hurley said.
"In the past year we had become close again. We last spoke on our son's 18th birthday. This is devastating news and I thank everyone for their lovely messages," she concluded.