Michael Douglas Didn't See A Dime Of Father Kirk's $61 Million Fortune — But It's Not What You Think
Kirk Douglas was one of the most famous and successful actors of his era, starring in Golden-Age Hollywood classics like "Spartacus" (1960) and "20,000 Leagues Under the Sea" (1954). Combine that with the fact that he lived a very long life (103 years, to be exact), and it should come as no surprise that the actor, who changed his name (he was born Issur Danielovitch in late 1916), had amassed a considerable fortune by the time he died in early 2020 — about $61 million, according to reports and estimates. However, Kirk's oldest son, fellow actor Michael Douglas, did not see a dime of that money upon his father's passing. But the reason for that might not be what you're thinking.
It's a common trope at this point for an aging individual to cut a child or some other younger relative out of their will for some slight or another. And while it's true that Kirk did cut Michael off financially after the latter turned 21, the "Basic Instinct" star not receiving a cash inheritance from his father had nothing to do with the sometimes-difficult relationship between him and his father. Rather, the overwhelming majority of Kirk's wealth (roughly $50 million, according to the Daily Mirror) went to charity — something Michael clearly supported and likely knew about well in advance.
In a February 2020 Instagram post announcing his father's death, Michael described Kirk as "a humanitarian whose commitment to justice and the causes he believed in set a standard for all of us to aspire to." Of course, there's also the fact that Michael himself is reportedly several times richer than Kirk ever was. In other words, it seems he knew as well as anyone that of all the people his father's money could have gone to, he was the one who needed it the least.
Michael Douglas' father was not alone in his philosophy
The fact that Michael Douglas was fully on board with his late father, Kirk Douglas, leaving his fortune to charity instead of giving it to him shouldn't be surprising. After all, despite his own wildly lavish lifestyle, Michael has made his thoughts on greed and wealth inequality perfectly clear in the past. The actor, who starred as villainous banker Gordon Gekko in the 1987 film "Wall Street," confessed to CNN in 2016 that he was flabbergasted at the number of real-life bankers who unironically idolized the character and his ruthless pursuit of more money. "I think that was, you know, an eye-opener for me," he said.
In any case, Michael's famous dad is far from the only wealthy celebrity with the philosophy that they can do more with their money than simply leaving all of it to their kids. Jackie Chan, for example, plans to leave his own fortune to charity, while fellow action star Daniel Craig has all but vowed to do the same in the name of not spoiling his children. "I don't want to leave great sums to the next generation. I think inheritance is quite distasteful. My philosophy is get rid of it or give it away before you go," Craig told Candis (via Business Insider).
Granted, Michael himself reportedly plans to leave his estimated $400 million fortune to his wife, Catherine Zeta-Jones. However, that's to be expected, given that she is 25 years his junior and will likely outlive him by some distance. According to insiders, however, the core philosophy remains the same. "Michael understands life is short and for all his financial success, which has been massive, he knows you can't take it with you," a source told the National Examiner (via Yahoo).