Robert Toll, center, at the New York Stock Exchange in 2016.
A billionaire real estate investor has pledged to give away most of his fortune and “share his assets with others,” according to a report on Newsbreak.
Robert Toll, the 82-year-old Ukrainian immigrant who founded luxury home builder Toll Brothers with his brother Bruce in 1967, pledged to give away his fortune while still alive as part of the Bill Gates and Warren Buffett-backed Giving Pledge, founded in 2019.
Their company is based out of Fort Washington. Toll has an estimated net-worth of $1.1 billion, according to Forbes.
“We are pleased to write this letter as signatories to The Giving Pledge. We have long subscribed to its principles and now wish to join the others of you who have made a public commitment to share their assets with others,” wrote Toll and his wife Jane in the Giving Pledge letter.
“Apart from our own commitments to social justice in many different venues, we have engaged our five children in our Foundation work and believe the Giving Pledge next generation vehicles will provide a meaningful platform from which they can share ideas and opinions,” wrote the Tolls.
According to Newbreak, Robert and Jane Toll established the Robert and Jane Toll Foundation which supports arts, cultural programs and higher education. Thus far, the Tolls have sponsored 58 third-grade children through college, raised funds for the American Cancer Society and the American Red Cross, and gave away $50 million to the training of public interest lawyers at the University of Pennsylvania Carey Law School. The gift is meant to expand the Toll Public Interest Scholars and Fellows Program.
Today, Toll Brothers is the fifth largest home builder in the United States, with revenues of about $7 billion, per the SEC.
Toll Brothers have developed more than 30 communities in the surrounding Lansdale area, including Ambler and Blue Bell.
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