[1] At the age of 18, he inherited an estimated $600 million from his grandfather, Leo S. Bing, a real estate developer who had made his fortune in New York in the 1920s.
After inheriting his fortune, Bing dropped out of Stanford University in his junior year to pursue a career in the entertainment industry.
He also gave to specific candidates, including Al Gore, Hillary Clinton, John Kerry, Nancy Pelosi, and Dianne Feinstein.
Bing was reported to have given at least $49.5 million during the 2006 election cycle in support of Proposition 87, a California initiative which sought to raise $4 billion in oil production taxes to help develop alternative fuels.
[13] Bing also supported several key races in other parts of the country as Democrats fought to win back control of Congress.
[14] Other beneficiaries of his political pursuits included: the California Democratic Party ($640,172); Governor Gray Davis ($675,000); and San Francisco Mayor Gavin Newsom, whose campaign received $750 in 2004.
[16] On August 5, 2009, a 737 private aircraft owned by Bing and based at Hollywood Burbank Airport in Southern California, was utilized in the return of American reporters Laura Ling and Euna Lee who had spent 5 months of a 12-year sentence in North Korea.
[23] The paternity of Bonder's daughter was revealed by Anthony Pellicano, a private investigator (and wiretapper) hired by Kerkorian's lawyer, who was also a "friend" to Bing.
According to excerpts of recorded calls, Pellicano bragged to Kerkorian's lawyer in April and May 2002 that he was "working for" and "consulting for" Bing in matters related to Elizabeth Hurley and her son's disputed paternity, which was then in the news.
[27] In April 2012, Bing committed to join The Giving Pledge, set up by Bill Gates and Warren Buffett, willingly donating the majority of his wealth to charity.
[28][29] Bing died by suicide on June 22, 2020, at the age of 55 by jumping from his condominium on the 27th floor of the Ten Thousand building at 10000 Santa Monica Boulevard in the Century City neighborhood of Los Angeles.