Why Kirk Douglas Didn’t Give Any of His Money to His Son, Michael

by Jeremy Spirogis
Why Kirk Douglas Didn’t Give Any of His Money to His Son, Michael

Kirk Douglas is without doubt one of the most iconic figures from the classical Hollywood period. Thanks to his roles in movies like Out of the Past, Spartacus, Exodus, and Paths of Glory, he can have a spot within the hearts of traditional film buffs for years to come back. In addition to changing into an icon, Douglas amassed an enormous sum of cash. Douglas handed away on Feb. 5, 2020 with an enormous web price. What will occur to his cash?

Kirk Douglas, his spouse, Anne Buydens, and their son, Peter Vincent Douglas | Keystone/Getty Images

Where Kirk Douglas’ cash goes

Fox News studies when Douglas died, he had a web price of $61 million. None of Douglas’ cash goes to his son Michael, who has a $300 million web price of his personal. Instead, $50 million of Douglas’ cash shall be divided up amongst numerous charities by the Douglas Foundation. The Douglas Foundation was established by Douglas and his spouse, Anne, in 1964. Its web site says “One of the entertainment industry’s largest and oldest private philanthropic institutions, the Foundation is committed to helping those who might not otherwise be able to help themselves.”

Some of the organizations receiving Douglas’ cash are Sinai Temple in Los Angeles, Culver City’s Kirk Douglas Theatre, Children’s Hospital Los Angeles, and St. Lawrence University. The latter was Douglas’ alma mater. Some of Douglas’ cash will go to the college’s scholarship program.

Another Hollywood celeb who’s giving a lot of his cash to charity

Douglas shouldn’t be the one Hollywood celeb who’s giving plenty of his cash to charity. Star Wars creator George Lucas is in the identical boat. According to Business Review, he’ll solely give a fraction of his fortune to his youngsters as a result of he made The Giving Pledge. CNBC says The Giving Pledge is a pledge for billionaires to provide over half of their cash away to charity. Bill Gates, Melinda Gates, and Warren Buffet began the pledge in 2010.

George Lucas with Stormtroopers | David Livingston/Getty Images for AFI

Lucas has discussed his dedication to The Giving Pledge at size in an essay he wrote for The Hollywood Reporter. In the letter, he cites the significance of training and storytelling’s position in it. He notes how nice ethical lecturers like Plato and Aristotle used storytelling as an example their concepts. Lucas wrote he feels the trendy American instructional system shouldn’t be residing as much as its full potential.

Lucas famous his disappointment with American training influenced his dedication to The Giving Pledge. He stated, “My pledge is to the process; as long as I have the resources at my disposal, I will seek to raise the bar for future generations of students of all ages. I am dedicating the majority of my wealth to improving education. It is the key to the survival of the human race.”

By giving their cash to charity reasonably than their youngsters, Douglas and Lucas headed down the street much less traveled. They are additionally serving to out quite a few individuals in want. That’s the form of unconventionality that would encourage us all.

Also see: Orson Bean: Prolific Television Actor Dies in Tragic Car Accident

Leave a Comment