Steve Bing, Hollywood producer, dies by suicide aged 55

Hollywood producer Steve Bing, who is best known for penning 'Kangaroo Jack' and dating British model Elizabeth Hurley, has died aged 55.

According to reports, the the producer, writer, and philanthropist has  died by suicide in Los Angeles’ Century City Monday afternoon. 

The heir to a real estate fortune, Bing was something of a jack-of-all-trades in Hollywood, writing  'Kangaroo Jack' and 'Every Breath', and producing movies like  'Get Carter'. He founded and chaired Shangri-La Entertainment, which financed films like 'The Polar Express' and 'Beowulf'.

Bing became a Hollywood power player after inheriting $US600 million from his grandfather on his 18th birthday, dropping out of college and using the money to found his own company, Shangri-La Entertainment.

The movie mogul also had a brief relationship with actress and model Elizabeth Hurley – the pair have a son together, actor and model Damian Hurley, born in 2002.