Stephen Bing Net Worth | Celebrity Net Worth
What was Stephen Bing's Net Worth?
Stephen Bing was an American heir, businessman, film producer, and donor to progressive causes. At the peak of his life and career, Stephen Bing had a net worth of $600 million. Some outlets have reported that his fortune was mostly gone when he committed suicide on June 22, 2020 at the age of 55. It's unclear if these allegations are true. If his fortune was indeed less than the peak of $600 million, at least part of the decrease was thanks to Stephen's generous philanthropy. During his lifetime he gave tens of millions of dollars to charity, that we know about. Perhaps much more that we don't know about.
Stephen Bing was a real estate developer, film producer, and the founder of Shangri-La Business Group, which holds interests in everything from property to music. He also contributes heavily to environmental causes and the Democratic Party. He gained widespread notoriety after having a child with actress Elizabeth Hurley.
Early Life
He was born Stephen Leo Bing on March 31, 1965. Bing inherited an estimated $600 million at the age of 18. He was the grandson of Leo S. Bing, a highly-successful real estate developer. Stephen Bing attended Stanford University but dropped out in his junior year to pursue a career in Hollywood. A child of working parents Helen, a nurse, and Peter Bing, a doctor in public health, Stephen Bing received the wealth form his grandfather, Leo S. Bing, who had made his fortune in New York real estate in the 1920s.
Career
While he was still attending the elite LA Harvard-Westlake private school, Stephen wrote (with veteran sitcom writer Arthur Silver) his first screenplay, "Missing in Action". The screenplay was turned into a movie starring Chuck Norris which had a sequel.
Bing dropped out of Stanford University in his junior year to pursue a career in Hollywood. Over the years Stephen produced dozens of movies. Notable projects include "Kangaroo Jack" (which he co-wrote), "Get Carter," "Beowulf" and "The Polar Express."
Stephen personally invested $100 million of the $200 million budget for "The Polar Express," an animated film featuring the voice of Tom Hanks. The movie earned $285 million globally and became one of the year's top box office successes. He financed and produced the independently released Jerry Lee Lewis album and "Last Man Standing." He also produced the Martin Scorsese-helmed Rolling Stones documentary "Shine a Light."
Bing was the founder of the Shangri-La business group, an organization with interests in property, construction, entertainment, and music.
Frederick M. Brown / Getty Images
Philanthropy
Stephen Bing's philanthropic efforts were as noteworthy as his film career. He donated generously to environmental causes, pledging $50 million to Stanford University for the establishment of an energy research institute, which is now known as the Stanford Bing Concert Hall. He also contributed significantly to political causes, primarily those aligned with the Democratic Party.
Personal Life
As for his private life, Bing has attracted media attention for dating some of the world's most beautiful women, as well as for being involved in high-profile lawsuits. He fathered two children, Damian Hurley with actress Elizabeth Hurley, and Kira Bonder with former tennis player Lisa Bonder. Both paternities involved legal disputes, but Bing was confirmed as the father in both cases.
Bing was a longtime friend of Bill and Hillary Clinton. In 2009 when two journalists were freed from North Korea, Bill and Steve flew on Steve's private plane to escort the women home.
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