From $600 Million To $300,000, How Businessman Steve Bing Died Broke And Lonely

Source: MEGA

Oct. 20 2020, Updated 7:03 p.m. ET

Link to FacebookShare to TwitterShare to Email

Businessman Steve Bing — who inherited $600 million from his grandfather at the age of 18 — was only worth $300,000 at the time of his death, a new report from Town & Country revealed.

After the movie producer died by suicide in June — he was just 55 years old at the time — his daughter, Kira Kerkorian, was in charge of figuring out who would get the rest of his inheritance. 

The outlet reported that Bing only had "about $300,000 left in liquid assets, which was meant to be bequeathed to the Clinton Foundation, and that’s before debts are settled. Relative to the extraordinary estate he inherited in his youth, Bing was broke."

Article continues below advertisement


Bing — who formed a production company called Shangri-la Entertainment in 2000 — had substance abuse issues over the years. Heidi Fless, the infamous Hollywood madam, realized something was wrong with Bing when they were staying at the Beverly Hills Hotel. "When I saw his arms, I said to him, 'Oh no, Steve, you’re over. It’s done.' My heart just sank. I don’t know anyone who comes back from that," she told the outlet.

Last winter, when Fleiss tried to contact Bing, she panicked when she couldn’t get hold of him and thought he might have overdosed. However, he ended up being okay

Bing then struck up a relationship with Allexanne Mitchum, who was 26 years younger than him. The pair soon became an item and bonded over their upbringings. Bing even rented a house for them in Palm Springs, Calif., and was even thinking about expanding their family. But in June 2019, while they were staying at a hotel in Beverly Hills, Calif., the duo had a fight, and Bing wanted her to sleep somewhere else. 

Article continues below advertisement

Mitchum went to a friend’s house, and 24 hours later, she was in a coma from a drug overdose. She died eight days later. 

Bing couldn’t believe what had happened to Mitchum and called her aunt, Carrie Mitchum — who introduced the two of them — asking her if she "believed in the afterlife." "Did I have dreams about her? And if so, what did she say to me? I think it really shook him," she revealed about their conversation. 


In 2019, Bing asked for help with killing himself, but his friend was able to talk him out of the ludicrous idea. As a result, Bing entered rehab and seemed to be in a good place. So much so, he spoke to a therapist twice a day and had been sober for several months. Bing even reconnected with his son, Damian, whom he shares with model Elizabeth Hurley

Article continues below advertisement

“In the weeks before his death, everything seemed fine,” a source told OK!. “He was looking at future projects; he was upbeat about the future. Both Steve and Damian made a concerted effort over the last two years to build something resembling a father and son relationship."

"There were two of him," a former lover said. "He could be charming, generous, kind, the life of the party, but at the end of the day he went home alone. He was a very lonely guy."


"He realized he purchased everything. Every person, every opportunity, every glorious moment," Josh Chrisant, who was his pal, said. "The tragedy is he needn’t have."

The Hollywood producer died after he jumped from the balcony of his 27th-floor apartment.

More Stories

© Copyright 2021 Empire Media Group, Inc. OK! is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.