Jeff Greene, the 63-year-old developer based in Palm Springs, filed campaign papers Friday as he prepares to run for governor as a Democrat, according to reports. This will be his second time running for office, after an unsuccessful run for U.S. Senator back in 2010.
Greene said he is willing to pump millions of his $3.8 billion net worth into his bid to ensure the Democratic nomination, just as he did in his last campaign against Kendrick Meek, where he earned 31 percent of the vote.
After getting started in real estate and development, Greene made his fortune by buying credit default swaps on subprime mortgage-backed bonds as the housing market crashed, according to Forbes. He was dubbed a “Meltdown Mogul” following his success.
He now owns 3,500 apartments in Los Angeles, 2,500 in Florida as well as three buildings and five homes in Manhattan. Greene is also known for the pre-k to 8th grade Greene School in Palm Beach.
He joins the Democratic field which is already accompanied by four other candidates, Andrew Gillum, Gwen Graham, Chris King and Philip Levine, just three months before election day.
Greene made his desire for a political comeback well known.
“If I did get involved, I’d be able to get my message out and spread whatever it would take to get me over the top,” Greene told the Palm Beach Post back in April.
His money should help him get ahead in the race. One of his opponents, Levine, has been able to promote himself on television with the help of $8 million of his own money. Greene will likely have the same opportunities despite his late entrance into the race.