A U.S. billionaire who made his fortune betting against sub-prime mortgage securities has told Americans to lower their expectations so they have 'less things' in life.
Jeff Greene made his remarks after flying into Switzerland on a private jet with his wife, children and two nannies.
The real estate entrepreneur, who is worth around $3billion, said: 'America's lifestyle expectations are far too high and need to be adjusted so we have less things and a smaller, better existence.
'We need to reinvent our whole system of life.'
The 60-year-old founder of Florida-based Florida Sunshine Investments was speaking at the World Economic Forum in Davos.