Steve Bing, a famed film financier, producer and philanthropist, died by suicide on Monday at the age of 55. Authorities say Bing leaped from a building in Century City, California, according to multiple reports.
Bing reportedly jumped from the 27th floor of a luxury apartment tower where he lived, TMZ reports.
A rep for the LAPD could not confirm the deceased's identity at this time, but confirmed to ET that Monday around 1 p.m. at the 10000 block of Santa Monica Blvd in Century City, and that they are still investigating.
Bing, the founder of Shangri-La Entertainment, was best known for financing some of director Robert Zemeckis' most ambitious projects, including 2004's Polar Express, which went on to become a major blockbuster, and his 2007 fantasy thriller Beowulf.
Bing inherited $600 million from his grandfather, Leo S. Bing, when he was 18 years old and dropped out of college to focus on establishing a career in Hollywood. One of the first films he served on as a producer was the Sylvester Stallone thriller Get Carter in 2000.
Bing also wrote several screenplays, including Missing in Action, the 1984 Chuck Norris action vehicle, as well as the 2003 comedy Kangaroo Jack.
Along with his investments in film projects, Bing was also a large contributor to progressive political causes and used his resources to contribute to philanthropic organizations. He was also a significant donor to Democratic political candidates, including Bill Clinton.
According to The Giving Pledge, Bing had committed to giving a majority of his assets to charitable organizations over the course of his lifetime.