Steve Bing

NET WORTH: $600 million, estimated

SOURCE OF WEALTH: Inherited; Shangri-La Industries

FUNDING AREAS: Environment, Human Services

OVERVIEW: Steve Bing doesn't appear to have a foundation, though he's given a lot of money to the Democratic party. But he's been a strong supporter of the Clintons and the Clinton Global Initiative. Bing also has given millions to the National Resources Defense Council.

BACKGROUND: Steve Bing attended Harvard-Westlake preparatory school and enrolled at Stanford University. At the age of 18, Bing inherited an estimated $600 million from his grandfather, who had made his fortune in New York real estate in the 1920s. Bing pursued a career in Hollywood. His first writing credit is Missing in Action, a Chuck Norris film, and Bing has since gone on to produce films such as Get Carter, and The Big Bounce. Bing also founded Shangri-La Industries, which holds interests in music, entertainment, construction, and property.

ISSUES:

ENVIRONMENT: Bing has given millions to National Resources Defense Council over the years, including $1.7 million to help complete construction on an NRDC building in Santa Monica. On the political front, Bing spent somewhere in the neighborhood of $50 million to finance a green energy initiative on the California ballot. Bing has also pledged money to an NRDC study on global warming. It's also worth noting that Bing's Shangri-La Construction focuses on sustainable development. 

HUMAN SERVICES: Bing has been a board member at the Motion Picture & Television Fund Foundation, and in 2012, pledged $30 million to endow the organization’s work of providing health care and other types of assistance to elderly people who've worked in film and television. He's also supported Brad Pitt's Make it Right, and has given at least $5 million to help residents in areas affected by Hurricane Katrina. Make it Right's mission is constructing affordable and sustainable homes. Through the Clinton Global Initiative, Bing has also taken on issues in New Orleans as well as in Haiti.

OTHER: Bing has contributed at least $22.5 million to Stanford University, where his father once served as chair of the board of trustees, but reportedly stopped giving money to the school because of its ties to ExxonMobil. 

LOOKING AHEAD: Bing's environmental activism is still in play. It's unclear if Bing will establish a family foundation in the coming years.

CONTACT:

Shangri-La Construction
550 South Hope Street, Suite 700
Los Angeles CA 90071
213.797.4240
info@shangrilaconstruction.com

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