eBay founder Pierre Omidyar and his wife Pam have pledged to donate $50 million over six years to the Hawaii Community Foundation.

The foundation said it believed the donation is the largest single gift by a living donor in Hawaii's history. The investment will be used to launch several community initiatives over the six-year period as well as support the Omidyars' ongoing philanthropic interests through the Omidyar Ohana Fund at the Hawaii Community Foundation.

"Pam and I are privileged to call Hawai`i home. Given the economic crisis and hardships throughout the state, we felt it was especially important at this time to expand our philanthropy in the Islands," Pierre Omidyar said in a news release.

Omidyar, whose net worth is estimated at $5.5 billion, is the founder and chairman of eBay Inc. Pierre attended eighth and ninth grades at Punahou School, and Pam grew up in Hawaii Kai. The Omidiyars and their three children moved to Hawaii in 2006.

Since returning to Hawaii the Omidyars have supported a number of local causes and organizations, from helping launch Kanu Hawaii to backing the expansion of Mao Organic Farms in Waianae and its farm to school program for young adults. Most recently the Omidyars launched the Ulupono Initiative, a social investment organization that makes nonprofit grants and for profit investments aimed at addressing issues critical to Hawaii's sustainable future — renewable energy, local food production and waste reduction.