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Hollywood and business mogul Steve Bing committed suicide following a yearslong battle with depression and financial woes after blowing much of his $600 million fortune, friends said.
Bing, 55, died after jumping from his 27th-floor apartment in LA’s Century City on Monday. He was a notable philanthropist and Hollywood investor, including as a producer for the Sylvester Stallone remake “Get Carter.”
Bing dropped out of Stanford after receiving a $600 million inheritance from his grandfather, a real-estate developer. He is perhaps best known for being the father of Elizabeth Hurley’s son, Damian, born in 2002.
Bing initially denied he was his father, but a DNA test proved otherwise.
While the Hollywood community remains shaken by his death, those close to Bing say his jet-set life was enviable on the surface — with close friendships with President Bill Clinton and billionaire Ron Burkle and relationships with a host of beautiful women — but he was very troubled in reality.
One friend, who asked not to be named, said, “Steve was the most charming, caring and generous guy you could ever meet. Yes, he liked beautiful women, but it never worked out. He has gone through a dark time for years. He talked about battling mental illness, bipolar disorder. His close friends are devastated about his death but, sadly, not surprised.”
The source added, “Steve did have a drug problem, but it was the mental issues that tormented him. He would often disappear for long periods of time. He didn’t have a strong relationship with his kids, and he was sad about that.
“And, as surprising as this sounds, he had financial problems in the end. He made a lot of ill-advised investments. His latest film with Warren Beatty went upside down, and many people took him for a lot of money. People imagine it is impossible to run through $600 million, but he did. He was too generous.”
A second source added, “Steve recently sold his jet, his home, and was very depressed.”
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