Built on Mt. Lee in 1923 for $21,000 as a temporary sign to promote Hollywoodland real estate development, the 50-foot-high letters were made of wood and with 20-watt bulbs around each letter. In the 70's the Hollywood Chamber of Commerce spearheaded the campaign to rebuild the sign with support from a diverse group of people (including Playboy magazine founder Hugh Hefner, rock star Alice Cooper, cowboy Gene Autry and singer Andy Williams) each pledging $27,000 per letter for a new, all-metal landmark. Recently, a global fund raising campaign to preserve 138 acres adjacent to the world-famous sign reached its goal. Hugh Hefner, a key figure in the 1978 restoration effort, donated the last $900,000 of $12.5 million for city to purchase. The land is now part of Griffith Park.