Kirk Douglas, who died in March at the age of 103, made sure that he gave $50 million of his wealth away via the Douglas Foundation at his death.
Wealth Advisor’s recent article entitled “Kirk Douglas’ $61M fortune given mostly to charity, none went to son Michael Douglas” reports that the beneficiaries included St Lawrence University, Westwood’s Sinai Temple, Culver City’s Kirk Douglas Theatre and Children’s Hospital Los Angeles.
Kirk’s Oscar-winning actor Michael is not listed as a beneficiary. That is okay, because he’s has own wealth and is worth about $300 million on his own.
Michael announced the death of his father on February 5 in an Instagram post. He included several photos of his famous father and family members.
“It is with tremendous sadness that my brothers and I announce that Kirk Douglas left us today at the age of 103. To the world he was a legend, an actor from the golden age of movies who lived well into his golden years, a humanitarian whose commitment to justice and the causes he believed in set a standard for all of us to aspire to.”
Michael went on to add, “But to me and my brothers Joel and Peter he was simply Dad, to Catherine, a wonderful father-in-law, to his grandchildren and great grandchild their loving grandfather, and to his wife Anne, a wonderful husband.”
Michael finished his Instagram message by writing, “Kirk’s life was well lived, and he leaves a legacy in film that will endure for generations to come, and a history as a renowned philanthropist who worked to aid the public and bring peace to the planet. Let me end with the words I told him on his last birthday, and which will always remain true. Dad – I love you so much and I am so proud to be your son.”
Kirk Douglas was a three-time Oscar nominee, known for his roles in “Spartacus” and “Ace in the Hole.” He was buried at the Pierce Brothers Westwood Village Memorial Park and Mortuary. In addition to Michael, some of the mourners were Kirk’s wife of 65 years, Anne Buydens, and his other sons Peter and Joel.
Kirk Douglas was intentional about the legacy he left from his wealth and the estate planning he did.
Reference: Wealth Advisor (March 3, 2020) “Kirk Douglas’ $61M fortune given mostly to charity, none went to son Michael Douglas”