Why did Michael Douglas not inherit a single penny from his father's $61 million fortune?

New York [US], October 26: Screen legend Kirk Douglas had an estimated net worth of around $61 million when he passed away at the age of 103. However, his eldest son, Michael Douglas, received no inheritance from his father. The reason for this wasn't due to past disagreements between the two, but rather a different matter, Y! Entertainment reported on October 25th.
Kirk Douglas was one of the most famous and successful actors during Hollywood's golden age. He left his mark on a series of classic films, including Spartacus (1960) and 20,000 Leagues Under the Sea (1954). When he passed away in early 2020, reports and estimates suggested that Kirk Douglas possessed a net worth of approximately $61 million. However, his equally famous eldest son, actor Michael Douglas, did not receive any inheritance from this money.
It's not uncommon for wealthy individuals to exclude children or relatives from their wills due to family conflicts. Kirk Douglas did indeed stop providing financial support to Michael Douglas after his son turned 21. However, the fact that the Basic Instinct star didn't receive an inheritance is unrelated to the sometimes difficult relationship between father and son.
Instead, the majority of Kirk Douglas's wealth was dedicated to charity. According to the Daily Mirror, approximately $50 million of his fortune has been donated to philanthropic causes. Michael Douglas appears to fully support this decision and likely knew about his father's plan long in advance.
Another noteworthy factor is that Michael Douglas possesses a fortune many times greater than his father's. Therefore, the actor seems to understand that among those who could inherit Kirk Douglas's fortune, he is probably the one least in need of the money.
It's not surprising that Michael Douglas fully supports his father's decision to donate his fortune to charity. Despite his own lavish lifestyle, the actor has repeatedly expressed clear views on greed and wealth inequality.
Although agreeing with his father's views, Michael Douglas is reportedly planning to leave his estimated $400 million fortune to his wife, actress Catherine Zeta-Jones.
This is understandable, given that Catherine Zeta-Jones is 25 years younger than her husband and likely to outlive him. However, according to sources, Michael Douglas's core views on money remain unchanged. "Michael understands that life is short. Despite achieving immense financial success, he knows that no one can take money with them when they leave this world," a source told the National Examiner.
The story of Kirk Douglas's fortune is therefore not a matter of inheritance disputes or the result of disagreements between father and son. Michael Douglas's failure to receive money from his father primarily stems from Kirk Douglas's choice to dedicate the majority of his accumulated wealth to charitable causes.
Source: Thanh Nein Newspaper