He married his 19-years younger wife in 2007 and they spend their time between their estates in Malibu, the Hamptons and Palm Beach

Mr Greene is currently in the process of selling his $195million Beverly Hills estate - it is the most expensive property currently on the U.S. market

'We need to reinvent our whole system of life': U.S. billionaire Jeff Greene, 60, with his wife Mei Sze

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 19-year younger wife, Mei Sze, children and two nannies.

The businessman, 60, who is worth around $3billion through his investments and real estate development projects, 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.

He said he was due to attend several private parties during the week, including a dinner with former British Prime Minster Tony Blair.

In an interview with Bloomberg, he said the U.S. faces a jobs crisis that will cause social unrest and extreme politics.

He added: 'Our economy is in deep trouble. We need to be honest with ourselves.

'We've had a realistic level of job destruction and those jobs aren't coming back.'

Mr Greene was in the news just last week as his sprawling Beverly Hills compound 'Palazzo di Amore' hit the market with a $195 million asking price - making it the highest listing currently on the U.S. market.

Mr Greene and his wife were married at the property with Mike Tyson acting as his best man. Oliver Stone and Donald Sterling looked on, according to a New York Times article at the time.

It is not clear what plane Mr Greene used to fly into the conference.

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Jet set: The Greene family all flew over to attend the Davos conference this week despite Mr Greene's calls for a smaller and better existence for Americans

'Less things': Property developer and investor Jeff Greene said America should rethink its high lifestyle expectations after arriving by private jet to Davos

Reinvention? Mr Greene is currently selling the sprawling $195million estate where he married his wife Mei Sze, who is 19 years his junior. Mike Tyson, one of his 'best friends' served as best man

In 2013, he spoke of owning a $2million Cessna Caravan seaplane that he said saved him valuable time commuting between his homes in Palm Beach and the Hamptons and New York where he conducts much of his business.

He told The Real Deal that the plane cut a journey of more than three hours to just 35 minutes, employing two full-time pilots.

He said he and his wife Mei Sze Chan used it around 40 to 50 hours a month for themselves and friends.

Mr Greene, who is ranked the world's 687th richest man by Forbes, said he was inspired to buy the plane after musician Jimmy Buffett was landing his own plane on the same bay near his home.

The skies above Switzerland have been crammed full with private jets as billionaires and world leaders attend the World Economic Forum in Davos - to discuss climate change among other things.

There is set to be twice as many jets as normal in the airspace as those attending the meeting insist on travelling in style.

Around 1,700 private flights are predicted over the course of the week, a five per cent rise on last year for the 2014 forum - a figure that will surprise many given that global warming is on the agenda and a private jet burns as much fuel in one hour as a car does in a year.

Jeff Greene (pictured, left, with former New York Governor David Paterson) has told Americans to lower their expectations so they have 'less things' in life

High expectations? Mr Greene's Sag Habor estate is pictured. Previously he has revealed he and his family live between the Hamptons, Beverly Hills, Palm Beach and Malibu where they own multiple properties

A picture from Flightradar24, a website that monitors air traffic in real time, shows private jets clustered around Switzerland on Wednesday.

Zurich airport will handle most of the incoming private jets, but a new landing zone has been opened up via the Duebendorf military base, near Zurich, which has room for 40 private jets and is a one-hour helicopter ride from picturesque Davos.

Zurich airport has been fully booked for some time, with around 60 jets guaranteed space there.

Among the private jets being used by billionaires for the World Economic Forum in Davos is this 14-seater Global Express XRS which has been hired for around £18,500 (€24,000) return from Paris to Zurich