Steve Bing is an American movie producer and “businessman” who is the father of Elizabeth Hurley’s son, Damian. He is also the father of Kira Kerkorian Bing, his daughter with former pro tennis player, Lisa Bonder. Bonder had duped her husband, billionaire Kirk Kekorian into thinking he was the biological father of Kira. Bing reportedly inherited nearly $600 million at the age of 18 from his grandfather’s trust. He dropped out of Stanford shortly thereafter.
Bing and his out of wedlock children are in the news this week because Bing’s father, Peter Bing, went to court to attempt to exclude them from inheriting from a multi-millionaire dollar trust he created in 1980 for his then unborn grandchildren. The elder Bing and his trustee contend that it was not his intent for out of wedlock grandchildren to inherit from the trust. He claimed that he had never met his grandchildren and that Steve had no relationship with them. The elder Bing was likely prodded into the lawsuit by his daughter who has her own two children who would be the only trust beneficiaries if Steve Bing’s children were excluded.
Several points, some of them obvious:
1. Steve Bing is clearly a cad.
2. Lisa Bonder was duplicitous.
3. Steve Bing’s sister is duplicitous and manipulative.
4. I am not a fan of creating trusts for grandchildren when it is uncertain how the children will be when they mature.
5. The funds in this trust are more important to Steve Bing’s children than they are to his sister’s children because it is unlikely his children will inherit from him while she likely had $600 million of her own funds to leave to her children some day.
6. Problems of the .o1 percent.
Photo Credit: Estee Lauder
License: Fair Use/Education (from linked article)
