Michael Douglas will be getting nothing from his father’s fortune, a new report claims.
Legendary actor Kirk Douglas passed away earlier this month at the age of 103, and this weekend the details of Kirk’s will were reported. As the Mirror noted, Kirk gave away the majority of his $61 million fortune to charity, a total of $50 million that is being distributed through the Douglas Foundation.
As the report noted, the millions will be spread out across a number of nonprofit organizations, including the Children’s Hospital Los Angeles and St. Lawrence University, which will be using its portion of the money to fund a scholarship for minority and underprivileged students. Money will also go to the Sinai Temple in Westwood, home of the Kirk and Anne Douglas Childhood Center, and to the Kirk Douglas Theatre in Culver City.
As the report noted, there was nothing left behind in Kirk’s will for his son, fellow actor Michael Douglas. But there does not seem to have been any animosity between them at the end of Kirk’s life, with the report noting that it was Michael who helped to publicly announced his father’s death.
“It is with tremendous sadness that my brothers and I announce that Kirk Douglas left us today at the age of 103,” Michael said in the statement.
In the statement, Michael added that his father had left behind a film legacy that will endure for generations and a charitable footprint that will live on beyond his passing. Michael noted that his father “worked to aid the public and bring peace to the planet.”
As The Inquisitr reported, Kirk Douglas’s net worth was impacted by the structure of Hollywood at the time of his career peak, as Kirk was considered to be severely underpaid as an actor despite being one of the most sought-after leading men in Hollywood during the 1950s and ’60s. As the report noted, actors at the time signed contracts directly with studios rather than on a film-by-film basis, and Douglas had something of a low profile when he initially signed with Warner Bros. Studios.
Douglas would help build his net worth thanks to his second wife, Anne Buydens, who reportedly helped push him toward higher pay more in line with his stature in Hollywood.
It was not clear what happened to the roughly $10 million of Kirk’s fortune that did not go to charity. The Mirror added that Michael Douglas would not need much from his father’s estate, as the actor has a reported net worth of $300 million.