Omidyar pledges to invest even more in Hawaii

EBay founder and billionaire philanthropist Pierre Omidyar, who pledged $50 million last year to the Hawaii Community Foundation, said he plans to put more capital into Hawaii projects.

Omidyar, speaking to reporters at a Waikiki luncheon, said he will put more capital into his Ulupono Initiative, which promotes food sustainability, renewable energy and waste reduction in Hawaii. This program is separate from the $50 million he pledged to the Hawaii Community Foundation – the first part of which has gone this year toward helping families weather the economic recession.

The 43-year-old Omidyar and his wife, Pam, live on Oahu with their three children and recently joined 40 of the world's richest people in a pledge to donate at least half their fortunes as part of a philanthropists'  pact. The Omidyars' net worth was estimated at $5.2 billion this year by Forbes Magazine.

Omidyar said he is focused on providing necessary capital to for-profit companies or nonprofit organizations in ways that are sustainable for Hawaii "and where the things we become involved in are not overly dependent on us as the primary source of funds."

Omidyar wrote the software code that eventually would become eBay in 1995. He said the company's initial public offering in 1998 left him with the sense of responsibility that his overnight wealth should be put to good use. To date, the Omidyars have committed more than $900 million to their philanthropic efforts worldwide, including $150 million to for-profit companies and $750 million to nonprofit organizations.