Kerkorian will also pay $100,000 a month for child support to his ex-wife, who has admitted to faking a DNA test in an attempt to prove the child was biologically related to Kerkorian, the wire service reported.
Lisa Bonder Kerkorian eventually disclosed that the biological father is film producer Stephen Bing, the Associated Press said. Attorney Michael Trope, who filed the settlement on behalf of the ex-wife in Los Angeles Friday, declined to comment, according to the wire service.
The 93-year-old CEO of closely held holding company Tracinda Corp. is worth $3.1 billion, making him the 307th richest person in the world, Forbes said this year. Kerkorian's investments have included a stake in Las Vegas casino operator MGM Mirage and the MGM film studio.