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. Reports suggest that much of his fortune was depleted by the time of his tragic suicide on June 22, 2020, at age 55. One notable factor contributing to this potential depletion was his generous philanthropy. Over his lifetime, Stephen donated tens of millions of dollars to various charitable causes, possibly more than what is publicly known.
Stephen Bing was a real estate developer, film producer, and the founder of Shangri-La Business Group, a company with interests in property development, music, and entertainment. In addition to his business ventures, he was a notable contributor to environmental causes and the Democratic Party. Bing garnered significant public attention for fathering a child with actress Elizabeth Hurley.
Early Life
Born Stephen Leo Bing on March 31, 1965, Stephen inherited an estimated $600 million from his grandfather Leo S. Bing at the age of 18. His grandfather was a successful real estate developer in New York during the 1920s. Stephen Bing attended Stanford University but left in his junior year to pursue a career in the film industry. His parents, Helen Bing, a nurse, and Peter Bing, a doctor in public health, supported him financially through his early endeavors in Hollywood.
Career
Stephen Bing's career in Hollywood began while he was still attending the elite LA Harvard-Westlake private school. He co-wrote his first screenplay, "Missing in Action," with veteran sitcom writer Arthur Silver. The screenplay was adapted into a film starring Chuck Norris, which subsequently led to a sequel.
After leaving Stanford, Stephen Bing produced several notable films, including "Kangaroo Jack," "Get Carter," and "Beowulf." One of his biggest career achievements was co-writing and personally investing $100 million in the $200 million budget for "The Polar Express," an animated film featuring the voice of Tom Hanks. The movie grossed $285 million globally and was one of the year's top box office successes. He also financed and produced "Last Man Standing," an album by Jerry Lee Lewis, and produced the Martin Scorsese-directed Rolling Stones documentary, "Shine a Light."
Bing established the Shangri-La Business Group, which has varied interests in property, construction, entertainment, and music sectors.
Frederick M. Brown / Getty Images
Philanthropy
Stephen Bing was as renowned for his philanthropic efforts as he was for his film career. He donated substantially to environmental causes, most notably pledging $50 million to Stanford University for the establishment of an energy research institute, now known as the Stanford Bing Concert Hall. His contributions extended into political realms, primarily supporting causes aligned with the Democratic Party.
Personal Life
Stephen Bing’s private life often made headlines. He dated several high-profile women and was involved in notable legal disputes. He fathered two children: Damian Hurley with actress Elizabeth Hurley and Kira Bonder with former tennis player Lisa Bonder. Both paternities were subject to legal battles but were confirmed in court.
Stephen Bing maintained a close friendship with Bill and Hillary Clinton. In 2009, Bing and Bill Clinton flew on Bing’s private plane to help escort two journalists freed from North Korea back home.
