Oscar Perelman, the 15-year-old son of billionaire investor Ronald Perelman and psychiatrist Dr. Anna Chapman, has died.

The gifted teenager passed away on Tuesday night on the Caribbean island of St. Maarten. His death is believed to be related to a longstanding medical condition. A representative for Ronald Perelman, 83, declined to comment on the tragedy.

"He was a kind, smart child," a source told Page Six. "Very smart — he was his father's son."

Oscar was born in 2010 via a surrogate, the same year Perelman and Dr. Chapman tied the knot.

At the time, Chapman expressed her joy to sources, saying, "We had some trials and tribulations getting to this point, and we are both thrilled."

Friends of the couple described the arrival of Oscar as a moment of happiness, with one insider recalling, "A baby is something they've both really wanted for a while. Friends say they've never seen Ronald happier or more content."

Perelman and Dr. Chapman welcomed a second child via surrogate in 2012.

Oscar Perelman's Death Brings Personal Loss

Ronald Perelman is widely known for his fortune built through investments in the 1980s, most notably the hair care brand Revlon.

Beyond business, he has become a major philanthropist, funding several medical and research institutions in New York, including the Ronald O. Perelman Departments of Emergency Medicine and Dermatology at NYU Langone Medical Center, the Ronald O. Perelman Heart Institute at New York Presbyterian Hospital, and the Ronald O. Perelman and Claudia Cohen Center for Reproductive Medicine at Weill Cornell Medical Center.

Oscar's passing adds to the personal challenges in Perelman's life. The businessman has seven other children from previous marriages. He shares four children with his first wife, Faith Golding, to whom he was married from 1965 to 1984.

According to Yahoo, he also had a daughter with his late ex-wife Claudia Cohen, another daughter with his third wife Patricia Duff, and was married to actress Ellen Barkin from 2000 until their divorce in 2006.