He tweeted: "I loved Steve Bing very much".
Law enforcement sources have told TMZ he died after falling from an apartment building in Los Angeles' Century City neighbourhood.
"Hard to believe a 55 year old billionaire #SteveBing suddenly chose to jump off a tall building because he "was depressed about social isolation during the Covid lockdown" which is over now anyway", wrote a user.
He is survived by two children - a son with Elizabeth Hurley and a daughter with Kira Bonder. It is a bad end. We became close again in the previous year & last spoke on our son's 18th.
He co-wrote the 2003 comedy "Kangaroo Jack", a film starring Anthony Anderson and Jerry O'Connell that was savaged by critics but made almost $90 million at the box office.
Aged 18, Bing inherited a reported US$600m (NZ$927m) from his grandfather, a prominent Los Angeles real estate developer.
One arrested after multiple stabbed in Reading, UK
About a dozen armed police officers with shields were seen entering the block and families living in the building were moved out. A man who went on a stabbing rampage in Reading , England , killed three people and injured three more.
Bing, who initially refused to have fathered Damian, was proved wrong following a DNA test.
"This is a very odd and confusing time and I'm immensely grateful to be surrounded by my phenomenal family and friends".
As a political donor, he reportedly gave tens of millions to multiple progressive initiatives, including $10 million to the Clinton Foundation. He also financed and produced films such as 2000's Sylvester Stallone remake "Get Carter", "The Polar Express" and "Kingsman: The Golden Circle".
The producer went to write Missing in Action 2: The Beginning (1985), an episode of Married With Children in 1989 and 2003's Kangaroo Jack and 1994's Every Breath.
He was a big supporter of Mr Clinton, having donated at least $10m (£8.03m) to his foundation and paid for the former president's trip to North Korea in 2009 to negotiate for the release of two USA journalists.