Miami Dolphins owner Steve Ross is getting rid of half of his $4.4 billion fortune — all for the sake of charity.

Ross became on Tuesday one of the new nine members to join the Giving Pledge, which is a long-term, global initiative created by Warren Buffett and Bill and Melinda Gates that aims to inspire deeper engagement in philanthropy and increase charitable giving globally.

"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. "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."

Last week, the Florida Legislature denied the opportunity for public money to fund an upgrade of Dolphins Stadium, which was in serious consideration to host the 50th Super Bowl and perhaps other NFL college football title games.

Ross even put up nearly $5 million of his own money to pay the cost to conduct the Dade County election to vote a measure to distribute $379 million from state and local coffers that team wanted over a period of 30 years.

The NFL is expected to vote later this month on awarding the 2016 and 2017 Super Bowls. San Francisco and Houston are the favorites to win those bids. San Francisco is expected to open a brand new stadium in 2014. Houston's Reliant Stadium opened in 2002.