The Wall Street star , 82, has given an update on his rarely-seem friend, who stepped away from the movie business after the release of his final film, 2010 rom-com How Do You Know, and revealed he's enjoying his retirement.
Douglas made the comments during an event in Swansea, Wales, to promote his new memoir One Helluva Ride.
According to The Independent newspaper, Douglas was asked about his 89-year-old pal and he said: "I would have liked to have acted with Jack. He's not working any more. He's well. He has disappeared. I know that."
"I still see him, but he is fine. He is up there by his house and walking around in his slippers. It happens. He deserves it. I understand. He is a few years older than me, but I understand," he said.
Douglas has been busy promoting his new book, which features bombshell revelations about his personal life including the confirmation of his romance with Kathleen Turner, his secret affair with Jeanne Tripplehorn, and the admission he was dating five other women at the time his wife Catherine Zeta-Jones wanted to make their relationship serious.
He revealed he made five break-up phone calls in one day after Zeta-Jones told him she would only date him if he stopped seeing other women.
The actor was separated from his first wife, Diandra Douglas, 70, and dating five women when he began pursuing Zeta-Jones after being captivated by her performance in The Mask of Zorro.
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