Will Steve Bing’s two children inherit his vast $590 million fortune?

The news of Steve Bing’s death came out late Monday, and by Tuesday evening, the LA County Medical Examiner confirmed what was widely assumed: Steve Bing’s cause of death was suicide, sadly. He was 55 years old, and he left behind two children. Sort of. Of course it’s a lot more complicated than that. One of his children is Damian Hurley, the only son of Elizabeth Hurley, who issued the classy statement seen above on her Instagram. The other child is Kira Kerkorian. Bing wanted no part in raising his kids or being involved in their lives in any substantive way. So… what will happen to his massive fortune? Especially since no one knows if he even had a will?

The death of millionaire socialite Steve Bing could revive a family feud over whether his two children – a son with actress Liz Hurley and a daughter with tennis player Lisa Bonder – will inherit the family wealth. Bing, 55, took his own life in Los Angeles on Monday, leaving a $590 million fortune and a tangled legacy involving two children he had hardly met.

Paternity tests proved that Bing was the biological father of Hurley’s son Damian and Bonder’s daughter Kira Kerkorian, but neither grew up in his home. Bing’s father, Dr Peter Bing, last year tried to cut Damian and Kira out of a trust he had set up for his heirs – arguing that ‘I do not consider them my grandchildren’. However, Steve Bing and Liz Hurley joined forces to oppose Dr Bing’s gambit, which was dismissed by a US judge – leaving Damian and Kira in line for a share of the reported $480 million fund.

It is not yet clear who will inherit Steve Bing’s own fortune, or whether he made a will. California law says that the surviving children – in this case Damian and Kira – will normally inherit an estate if there is no will.

Hurley had rejected Bing’s money in 2002 but said yesterday that they had ‘become close again’ recently and spoken on Damian’s 18th birthday. Steve Bing was proved to be the father of Damian Hurley in 2002 by a DNA test which was ordered by a British court. Bing offered to pay $2.9 million into a trust in Damian’s name, but Hurley said the money was ‘not wanted or welcome’ and said she would not accept a penny. ‘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,’ she said at the time. ‘However, following legal proceedings instigated by himself and opposed by me, it appears that one cannot stop someone trying to give you money. Fortunately one can refuse to accept it. This I have done.’

[From The Daily Mail]

I actually forgot some of that backstory, which is why I included that part of the DM’s coverage. I forgot that Liz Hurley refused to take the money offered by Bing once the paternity test came through. I do remember that scandal though – Hurley thought she and Bing were seriously dating and he tried to ghost her when she got pregnant. It was an international scandal at the time! Anyway, my guess is that Liz Hurley and Damian will not look to have a messy fight in the American courts over Bing’s estate. As for Kira… I have no idea, I really don’t. My guess is that both of Bing’s children will leave it to other family members to fight over.

Embed from Getty Images

Photos courtesy of Getty, Instagram.

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27 Responses to “Will Steve Bing’s two children inherit his vast $590 million fortune?”

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  1. JanetDR says:

    I hope he did not pass along any biochemical whammy to his children. I’m glad for Elizabeth that she had the means to raise him on her own!

  2. julia says:

    Elizabeth Hurley has certainly responded with a lot of class through a few scandals involving her partners.

  3. TheOriginalMia says:

    I bet he left a will that gave the bulk of his estate to the kids. If he opposed his dad’s attempt to shaft them out of their rightful inheritance, I don’t see him leaving it up to his family to do the right thing by them.

    • (TheOG) jan90067 says:

      I believe he had said he joined the Gates’ initiative to give away most of their personal wealth during their lifetimes. Could be earmarked for charities/causes with a “token” to the kids.

      • Courtney B says:

        Yes, he was part of that. He was hugely philanthropic which always seemed at odds with his personal relationships.

  4. AppleTartin says:

    I remember her establishing paternity. I didn’t know she refused financial support. Though looking back I realized there was no story of suing him for money just wanted her son to know who her Father was legally. It’s sad they will never have any chance now to establish and meaningful relationship with him as adults. I am going to assume this was a suicide. And it just shows even if you have all the money in the world. It does not buy happiness.

    • emu says:

      It does seem kind of odd to refuse, but I assume it was partly to establish that she wasn’t trying to be a golddigger and get his money.

  5. ChellyPie says:

    $590 million. Wow. Money really can’t buy happiness, sanity, or love. It’s so sad.

  6. Alexis says:

    I read an article that one reason for the suicide was that he’d blown all his money and there was nothing left…

  7. LunaSF says:

    What a crazy and sad story! Elizabeth seems like such a good mom to their son. Suicide is always so sad and shocking to hear about. I hope everyone finds peace.

  8. Rae says:

    I missed the news of his death, but I agree that it was a really lovely post by Liz. I hope for Damien, and his half sister, are able to rightfully inherit without the Bing family dragging them through the mud.

  9. Christin says:

    Money clearly does not buy true contentment.

    He may have been charitable to causes he supported, but to ghost two pregnancies/children is not a stellar sign of character. His father sounds like an even bigger piece of work. An armored truck doesn’t follow the hearse.

  10. Veronica S. says:

    His father tried to cut the kids out of the will, eh? Real classy family people the mothers had to deal with, and a situation you would think could’ve easily been avoided by using, say…birth control? Another day, another reminder rich people are trash.

    Then again, considering that $590 million didn’t buy him happiness, those kids might be better off in the long run if they don’t have to deal with his family.

    • lucy2 says:

      Yeah if you had 1 child you wanted nothing to do with, why not get a vasectomy? Instead he ended up with 2 children he ignored.

      I did read somewhere that he had joined that “wealth pledge” or whatever to leave a lot to charity. If it does end up going to his kids, hopefully they do something good with it.

  11. AmyB says:

    I vaguely remember Liz Hurley establishing paternity but why didn’t Bing want anything to do with his biological children? Am I missing something here? Obviously dying by suicide indicates he had severe mental health/depression issues but still. Guess I am not understanding. And the grandfather trying to cut them out of the will? YIKES! Poor kids :(

  12. Tiffany says:

    The Hurley/Bing story was damn good gossip back in the day. It even made the cover of Vanity Fair and was a well written story. For someone who was a private as Bing was, that story had a lot of material to work with.

  13. Darby says:

    What about his ties to Epstein? On Twitter I saw he was supposed to testify this week… now I can’t find it and don’t know if that’s true. Another article said he inherited $600mil from his dad and he’s now with $590mil… lol…

    • Tiffany says:

      I read that he had already inherited 400 million from his father and turned that into 590 million with his work/investments in Hollywood. He was one of the main backers of The Polar Express and the film is everywhere on television during the holiday season.

    • SomeChick says:

      Is there current/active litigation around Epstein? That name popped out and pinged my radar too. Two suicides among former Epstein associates in, what, a week or so? Hmm.

      • BillyPilgrim says:

        @some chick
        What associates have committed suicide?
        Googles but couldn’t find anything.

    • Starfish says:

      Look at the ties he had with the Epstein connections. Could blackmail seem to answer a lot of questions concerning some of these high profile people. I bet there is a lot to this story yet to be revealed.

      Feel sorry for his children, but he was no Father in life to them, maybe he was a sperm donor to maybe cover up his actions. Just asking?? The Grandfather is no better, and should be shamed in the public for his part in all of this.

  14. sassafras says:

    Oh I had forgotten about all that drama with Bing and Hurley. And in those pictures she included Arun whatshisface. That was more gossip I’d forgotten. And her safety pin dress! The scandal! My god I feel old as dirt now.

  15. Courtney B says:

    It’s a shame for Damien if he was just starting to establish a relationship which it sounds like maybe he was?

  16. molly says:

    That was a really lovely and classy post from Elizabeth about an incredibly sad situation. Makes me like her even more.

  17. Minorbird says:

    Oh god, he had connections to Epstein?? there is a lot more to this story–we may not know for years.