Elizabeth Hurley Shattered After Son Damian Gets Cut off From Father's Fortune

Damian Hurley, the 19-year-old son of actress Elizabeth Hurley, will not receive any money from the estate of his deceased wealthy father, Steve Bing, who died by suicide in June 2020. 

The Court of Appeals has ruled that Damian is not entitled to a single cent after Steve's father, Peter Bing, contested the trust fund for Steve's children.

Reports cited that Peter tried to have Damian removed from Steve's trust fund because he was born out of wedlock. Peter also tried to cut off the access of Damian's 21-year-old sister, Kira, to their money as her mother was also not married to Steve.

It's Their Grandfather's Money

According to The Sun, Peter set up the trust fund more than two decades ago for Steve's children before his kids were born. However, the 90-year-old billionaire, a public health expert in the U.S., wanted to overturn the trust fund, now worth some $277 million, and went to court in 2019 with his son.

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Steve won the case, but Peter's lawyers filed an appeal in 2020. According to friends, Steve died thinking that his children will be well-taken cared for financially, but Peter won the appeal. The trust fund will now go to the children of Mary, Steve's sister.

Reports also stated that Steve, an American businessman and film producer, apparently squandered his fortune and didn't have much to leave his children except for the trust fund. His net worth at the time of his death was $300,000, down from $600 million.

Elizabeth Hurley Speaks Out

Hurley, best known for her work as a supermodel and her TV series The Royals, is said to be devastated by the "callous treatment" of her son. In a statement issued to the Daily Mail, the actress said Steve would also likely be devastated by the turnout. She added that at least Damian's father had been spared from this "horrible" outcome.

Hurley dated the film producer in 2001, but their relationship was short-lived. Hurley then married Arun Naya, the scion of a textile fortune, in 2007. However, it has been revealed that Steve supported Damian financially even as he was not a permanent part of his son's life.

It has also been revealed that when Elizabeth Hurley was pregnant with Damian, Peter planned out a will to ensure that her baby will not inherit anything. The elderly Bing has refused to acknowledge his grandchildren out of wedlock.

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Lisa Kerkorian, Kira's mom, has also voiced her disappointment for this family squabble and said that Kira and Damian are innocent victims. Both mothers were embroiled in the lawsuits and fought for their children's right to the family fortune.

When Steve died, Hurley posted a tribute on her social media and said that their time together in his final years were happy, and they were becoming close again as friends. The actress said that she last spoke to her ex on Damian's 18th birthday.