Steve Bing Reportedly Spent $600 Million On Hookers And Money-Making Schemes

Steve Bing Reportedly Spent $600 Million On Hookers And Money-Making Schemes
Credit: Source: TrendCatchers.co.uk

Heidi Fleiss says Steve Bing , who killed himself on the 22nd of June at the age of 55, once said to her that if he was only worth $50 million, he would kill himself. Page Six reported that Bing committed suicide by jumping out of his 27th-floor apartment in LA.

The LA building features apartments that start at $10,000 per month where automated butlers take care of the tenants. Just one day after the socialite and investor killed himself, Page Six came out to say that Mr. Bing had been fighting against financial problems and depression.

RELATED: Sharon Stone Mourns The Death Of Her Ex-Boyfriend Steve Bing

He inherited $600,000,000 when he was just 18-years-old, and over the years, it's been reported that Bing managed to squander most of it with a luxurious lifestyle, and business deals gone wrong. At the time of his tragic passing, Bing had just $300,000 in assets.

During a conversation with The Post, Alana Hamilton Stewart claimed she would be honestly shocked if he managed to spend all of the money he was given. Reportedly, Bing spent his money through a number of ventures, some of it illicit, including drugs and women, but also gambling.

RELATED: Elizabeth Hurley’s Son Damian Is A Hot Millionaire After Winning Inheritance Lawsuit

Reportedly, Bing loved dating hookers, and he spent a lot of his own money on paternity suits and philanthropy. A Hollywood insider who spoke with The Post said Bing spent a lot of his money on movies and political ventures, but investing in films is rarely a good business.

RELATED: Damian Hurley Speaks Out After Father's Steve Bing's Suicide

The source said that while it's possible to make a lot of money with films, a few bad ones can result in "getting your a** handed to you." Regarding his donations, Bing reportedly gave $25 million to the Clinton Foundation back in 2008.

Additionally, Bing got some of his close friends to invest money into the foundation as well. According to ABC News, Bing dropped $50 million into a campaign for Proposition 87 which sought to tax oil production in California.

Advertisement

Moreover, Bing reportedly once purchased a sculpture made by Bob Dylan for Bill Clinton which was made from tractor parts. Bing inherited all of his money and he needed "validation," the source explained, which is what led him to invest in movies, that way he could see his name on the screen.

Read more about

Advertisement

You may also like

LEAVE A REPLY

  • MB
    MB Nov 1, 2020 9:29 PM PST

    All these people gossiping to press claiming to be friends are a disgrace. Especially pathetic Fleiss. Real friends talk with dignity & honor. With friends like that he really was alone & they are not worthy of him & his goodness. He is not totally to blame. His irresponsible family & health issues did not set a foundation.

    • Jane Doe
      Jane Doe Nov 3, 2020 11:36 PM PST

      Agreed. Real friends don’t slam a dead friend. He bailed Fleiss out of so many messes and there was always another mess on the horizon. Her gratitude lasted about 5 minutes. Yes, Obviously he had his problems he committed suicide. No one will know what’s in his heart when he did it but he did a lot of good for a lot of people and that should be enough.

Your email address will not be published. Required fields are marked *