Fla. Billionaire Pledges at Least Half His Wealth to Charity

Another billionaire has announced he will give away at least half his money: the real-estate investor Jeff Greene.

Mr. Greene is the latest tycoon to join the philanthropists Bill and Melinda Gates and Warren Buffett in their “Giving Pledge.” He brings the total number of individuals and families who have joined the effort to 58, a figure that includes 17 other signers announced Thursday.

Mr. Greene, 55, made his fortune by betting against the housing market before its collapse. He ran unsuccessfully as a Democratic candidate for the U.S. Senate in Florida this year. Forbes magazine estimates his worth at $1.8-billion.

In a letter to Mr. Buffett published on the Giving Pledge’s Web site, Mr. Greene says he plans to give 80 percent of his fortune to a foundation he recently established with his wife.

Mr. Greene, who grew up in modest circumstances and has an infant son, says in the letter that providing big inheritances to children can erode their ambition. He notes the poor economy and says he hopes his foundation can play a big role in “helping to make a better America.”

He also has kind words for Mr. Buffett and the pledge effort: “I am certain that your example has changed the way people the world over organize their estates and I am proud to be part of your group.”