Los Angeles, California (CNN) -- Playboy magazine founder Hugh Hefner, who made his fortune showcasing one type of Hollywood beauty, is sharing his wealth to save another.
A $900,000 donation from Hefner gives fundraisers the $12.5 million needed to buy and protect the 138 acres behind the world-famous Hollywood sign, they announced Monday.
A public land trust was formed to buy the land out of fear that luxury homes would be built near the landmark.
"Today, we have the Hollywood ending we hoped for, and now, Cahuenga Peak will be forever protected by adding it to Griffith Park," trust President Will Rogers said.
Fundraisers covered the famous sign for several days earlier this year to make their point about its importance. Instead, it read, "Save the Peak."
Hefner called the sign "Hollywood's Eiffel Tower."
"My childhood dreams and fantasies came from the movies, and the images created in Hollywood had a major influence on my life and Playboy," Hefner said.
The land was once bought by aviation pioneer and movie mogul Howard Hughes, who reportedly planned to build a love nest on the peak.
The land is zoned for luxury homes, but no one has ever built on it.