The organisation includes interests in entertainment and music, but also in property and construction.
Mr Bing also donated money to the Democratic Party during his lifetime.
Launched by Bill and Melinda Gates in 2010, Mr Bing’s name is listed on the Giving Pledge website.
The very wealthiest people are asked to take the Giving Pledge, meaning they will give away the majority of their wealth to charitable causes.
The Bing family have generously donated to a number of initiatives in California, including the Los Angeles County Museum of Art’s Leo S. Bing Theater.