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

Hollywood actor Kirk Douglas had reportedly left $50 million out of his estimated $61 million fortune to charity instead of passing it on to his son, Michael Douglas. When the veteran actor died in February 2020 at the age of 103, reports revealed that a significant portion of his wealth would go to organisations supporting education, healthcare and community welfare.

According to The Independent, citing a report by The Mirror, Kirk Douglas wanted $50 million distributed through the Douglas Foundation, which he established with Anne in 1964. Their son Michael, whose estimated net worth was reported to be around $300 million at the time, was not among the beneficiaries.

Other beneficiaries listed include St Lawrence University, the Kirk Douglas Theater in Culver City, Children’s Hospital Los Angeles and Sinai Temple in Westwood, home of the Kirk and Anne Douglas Childhood Center. The reports did not say how the other $11 million of his fortune would be distributed.

Why Kirk and Anne Douglas chose charity over inheritance

For Kirk Douglas, giving back was closely linked to his own childhood experiences. He was born Issur Danielovitch in Amsterdam, New York, in 1916 to a struggling family. His parents were Russian immigrants and the family suffered a great deal during the Great Depression.

Douglas worked several jobs to support himself through his education before moving on to acting. He eventually became one of Hollywood’s most recognized stars, bagging three Academy Award nominations for films such as Champion, The Bad and the Beautiful and Lust for Life.

His wife Anne, born Hannelore Marx, also experienced a drastic change in circumstances. The Douglas Foundation website says she was born into privilege in Germany but hardship came to her family during World War II.

The couple wanted to share their success together with others and pass on the importance of giving to their children and grandchildren.

Douglas Foundation has donated nearly $120 million

Established in 1964, the Douglas Foundation focused on improving access to education, healthcare and the arts, particularly for children and women in California.

Its website says the foundation has awarded nearly $120 million to more than 200 groups. Its initiatives have ranged from assisting Los Angeles public schools to improve playgrounds, to funding healthcare institutions and supporting organizations working with vulnerable communities.

Anne also played a big part in the couple’s charitable ventures. In 1997, she and Kirk learned about the poor condition of playgrounds in Los Angeles public schools and established the Anne & Kirk Douglas Playground Award to help improve recreational spaces for children.

Kirk also supported the Los Angeles Mission, participating in annual Thanksgiving events where celebrities joined volunteers to serve food to homeless people. The organisation later opened the Anne Douglas Center for Women.

Michael Douglas remembered his father as a humanitarian

Michael Douglas paid tribute to his father in an Instagram post after his death, remembering his cinematic achievements and his charitable work.

"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 wrote.

Kirk was a loving father and grandfather, he said, and his dad's legacy would live on through his movies and his philanthropy.

Kirk died in February 2020, followed by Anne in 2021. However, the foundation they established continues to carry forward their commitment to making education, healthcare and the arts more accessible.