Wealthiest Angelenos: Stephen Bing – #50

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Wealthiest Angelenos: Stephen Bing – #50
Wealthiest Angelenos: Stephen Bing

The skinny on the fat wallets of L.A.’s 50 wealthiest.

Stephen Bing

NET WORTH: $700 million +13%

LAST YEAR: $620 million

AGE: 46 RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Inheritance

THE MONEY: Recovering capital markets presumed to have pumped up estate of Hollywood playboy, who inherited New York real estate worth $600 million from grandfather. Film company minimized risk by not releasing any big-budget movies this year after some previous duds.

BUZZ: Bing was a busy man. Made appearance at Chelsea Clinton’s summer wedding in Rhinebeck, N.Y. The casual Bing strolled around in shorts and a T-shirt but spruced up for ceremony. Through sponsorship deal with Lexus, his Shangri-La Entertainment released “Girl Walks Into a Bar” on YouTube, said to be first major motion picture created exclusively for web. Bing will receive executive producer credit for “Hangover II,” set for release May 26. Plans on opening production studios in Hawaii if state Legislature beefs up tax credits. Shangri-La released album from 74-year-old rocker Jerry Lee Lewis, a project Bing said was intended to record the singer’s work while he still sounds vibrant. Green contractor Shangri-La Construction signed a partnership with Webcor Builders to expand to three Western states. Backed Mayor Antonio Villaraigosa’s coalition to reform L.A.’s public schools by electing new board members; made $100,000 donation, small change given the $58 million-plus in political contributions made since 2000.

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