Miami Dolphins owner Stephen Ross is giving away half of his $4.4 billion fortune to charity as part of The Giving Pledge.
Ross announced his commitment on Tuesday. He is one of nine new signatories of the pledge, a global initiative created by Warren Buffett and Bill and Melinda Gates that aims to increase charitable donations by the world's most wealthy individuals.
"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 released by the Giving Pledge.
"Although I have generally conducted my philanthropic efforts privately, I hope through publicly committing to the Giving Pledge that I will inspire others to commit to significant philanthropy the way my uncle inspired me."
"I am delighted, grateful and honored to join this important effort in the hope that collectively we can leave the world a little better place than we found it."
The move comes just a few days after Ross and the Dolphins were rebuffed by the Florida Legislature in an effort to secure public financing to help pay for $350 million worth of renovations at Sun Life Stadium, which Ross owns and where his Dolphins play their home games.
"As the Giving Pledge grows in size and scope, we will benefit from broader perspectives and experiences," said Melinda Gates, co-chair of the Bill & Melinda Gates Foundation. "We've found that the opportunity for us to share best practices and learn from each other’s global experiences is enabling us to have the greatest possible impact with our charitable giving."
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Ross is the founder and chairman of the Related Companies, a real estate firm headquartered in New York. He bought a 50% of the Dolphins (as well as Sun Life Stadium and surrounding land) in 2008, then bought the remaining stake in the team from Wayne Huizenga in 2009.
