The couple split amid a bitter paternity battle which involved a court-ordered DNA test to prove he was the father.
While their relationship came to a tumultuous end, Liz reveals they had recently reconnected.
“I’m posting these pictures because although we went through some tough times, it’s the good, wonderful memories of a sweet, kind man that matter,” Liz wrote.
“In the past year we had become close again. We last spoke on our son’s 18th birthday.
The 55-year-old went on to say she was devastated by the news.
“I am saddened beyond belief that my ex Steve is no longer with us. It is a terrible end.”
Their son, Damien, has also spoken out briefly about his late father’s passing.
“This is a very strange and confusing time and I'm immensely grateful to be surrounded by my phenomenal friends and family,” he wrote.
Steve went through a similar paternity battle with tennis player Lisa Bonder over their daughter Kira Kerkorian. While it is believed he was not close with either of his children it is said he did support them financially.
A slew of Steve’s high-profile friends have also spoken out about the tragic loss.
Rolling Stones’ Mick Jagger said: 'It’s so sad to hear of Steve Bing’s passing. He was such a kind and generous friend and supported so many good and just causes. I will miss him very much.'
Meanwhile, former president Bill Clinton tweeted: “I loved Steve Bing very much. He had a big heart, and he was willing to do anything he could for the people and causes he believed in.”
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