The Economic Times

Michael Douglas did not inherit his father's fortune. Why Kirk Douglas chose philanthropy over family inheritance

Hollywood legend Kirk Douglas reportedly left $50 million of his estimated $61 million fortune to charity instead of passing it on to his son, actor Michael Douglas. The decision reflected a lifelong commitment to philanthropy that Kirk shared with his wife, Anne. From supporting children's education and healthcare to improving public school playgrounds and helping homeless people, the couple spent decades directing their wealth towards charitable causes through the Douglas Foundation, which has donated nearly $120 million to more than 200 organisations.