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Dolphins Owner Stephen Ross Giving Away $2 Billion to Charity

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People were left scratching their heads wondering why a man worth more than $4.4 billion was asking tax payers for more than $200 million to renovate his football team's stadium. But it appears that Miami Dolphins owner Stephen Ross isn't a total tightwad. He's now pledged to give away at least half of his net worth to charity.

Ross, a man who made millions in real estate development, is the latest upper cruster to join the Giving Pledge. The initiative started by Bill Gates and Warren Buffet asks other billionaires to promise to give away at least half of their money to charity. Donations can either be made during the pledgee's lifetime or upon death. So far more than 80 billionaires have signed on.

"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," said Ross in a statement.

"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."

Ross's donations will focus on education, the arts, health care and sustainable cities.

It's hard to kick someone whose giving away half of his vast wealth, but the timing couldn't be more strange. Ross's plan to seek public financing for the Dolphins stadium was shot down by the Florida House last Friday amidst complaints that it was essentially public welfare for a billionaire. The Dolphins then announced that they would not go forward with any privately funded renovations. Dolphins CEO Mike Dee is already playing a slight 'we can't promise we'll keep the team in town' game.

Clearly things like education and health care are more important than renovating a football stadium, but it's odd to ask for public money for such a thing when public money could be used for things like, I don't know, education and health care instead. Then again, it's not like Florida's Republican-controlled state government cares very much about spending money on either of those things.

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17 comments
jdomar
jdomar

Can we just applaud this rather than being cynical snarky people about it?? He's giving away half his net worth; who cares that the timing coincides with his begging for public money. That bill is already shot down, and is a separate issue. If it were a conspiracy, he would have timed it better, announcing the money giveaway before the vote, brilliant writer.

Larry Masarsky
Larry Masarsky

Like always, no good deed goes unpunished. Typical sensational journalism from new times.

Quay Quayhaylaya
Quay Quayhaylaya

He does the same thing every NFL draft, why the big deal now?

John Pearson
John Pearson

Been post this all day. See if you can get an interview with Ross and ask him why he needs tax money to upgrade the stadium.

Jonathan Barrett
Jonathan Barrett

ya now that he got the tax payers to fucken pay for his stadium

Jeremiah Liburdi
Jeremiah Liburdi

ive been giving the dolphins alot of flak for the mike dee threats of possibly moving the phins outta miami for not getting the revenue deal from the state, but this, kudos sir, this is a great move on steven ross' part... faith in phins semi-restored

Joe LaDuca
Joe LaDuca

No he did the right thing.. Annoucing it before the House vote would have been pandering... Definitely not a politician but a very generous billiionaire.

Danny Benedit
Danny Benedit

Charity to your season tickets holders and pay for the renovations... We Voted YES!

Alex LaPorta
Alex LaPorta

Not putting it into renovating the stadium without asking us to pay for it, huh?

carmie33019
carmie33019

it would be interesting to see if he and others have made the pledge to give during their lifetime or after death??!!

Bradley Cassel
Bradley Cassel

Is part of that money the equity he has in the Dolphins?

carmie33019
carmie33019

and he makes $60 million for being stupid!


miamitrev2
miamitrev2 topcommenter

@Phil Ramirez  

they just write it off...

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