A couple of years ago, former Hollywood madam Heidi Fleiss told her friend Steve Bing about a common acquaintance of theirs who was worth $50 million. Fleiss recalled to The Post that Bing, half-joking, replied: “If I was worth only $50 million, I would kill myself.”
On June 22, the movie producer, 55, committed suicide by jumping from his 27th-floor apartment at Los Angeles’ posh Ten Thousand building, where units start at $10,000 per month and robot butlers tend to tenants. The next day, Page Six reported that Bing had been battling depression and financial woes after blowing the $600 million fortune he inherited at 18 years old.
Earlier this month, it was revealed that, at the time of death, Bing had $300,000 in liquid assets. His good pal Alana Hamilton Stewart, the ex-wife of both Rod Stewart and George Hamilton, told The Post: “If it’s true that he spent the money, I find it remarkable.”
According to friends, Bing went through his fortune with kamikaze abandon, investing in playboy pursuits including gambling, drugs and women. He dated A-list celebrities but sources, including Fleiss, say he loved prostitutes. He also put bundles of money into philanthropy and fighting paternity suits.
“He spent a lot on political stuff and films,” a Hollywood insider said. “Putting money into movies is never good. Even if you get lucky a few times, you will get your ass handed to you.”
It’s been reported that he donated as much as $25 million to the Clinton Foundation in 2008 alone, and Fleiss said that he coaxed friends to follow suit. “He’d raise $100 million in less than an hour, calling people and telling them that he just put in 10 million and they should do the same,” she said. ABC News reported that Bing loaded $50 million into a failed campaign for Proposition 87, a 2006 California ballot initiative which sought to tax oil production.