Miami Dolphins’ owner Stephen Ross, the billionaire co-founder and chairman of the closely held luxury condo developer, the Related Group, pledged half his $4.4 billion fortune to charity, the Sun-Sentinel reported.
Ross became on Tuesday one of nine new members of the Giving Pledge, created by investor Warren Buffett and Bill and Melinda Gates in 2010 to encourage the largesse of fellow billionaires. The group has 114 signatories.
“As a very young boy my uncle taught me a valuable lesson, the importance of giving back and using your impact and influence to make the world a better place,” Ross said in a statement, referring to American businessman and philanthropist Max Fisher.
Ross halted plans to renovate the Dolphins’ Sun Life Stadium last week after Florida’s House of Representatives failed to take up a bill that would have provided about $300 million in public subsidies towards a stadium upgrade over 30 years.
The Miami Beach native bought the team and stadium from Wayne H. Huizenga in 2008 for $1.1 billion, according to the Sentinel. [Sun-Sentinel] –Emily Schmall