A global symbol of entertainment, the Hollywood Sign originally began as a promotional tool for a new housing development. Erected in 1923, it was designed to advertise a Los Angeles neighbourhood called 'Hollywoodland'. Created by LA Times publisher Harry Chandler, the project cost $21,000 (£15,298) and featured massive letters, each about 30 feet (9m) wide and 43 feet (13m) tall, illuminated by 4,000 20-watt bulbs. However, the stock market crash of 1929 and the tragic death of actress Peg Entwistle, who jumped from the sign, marked the end of the real estate venture. Over time, the 'Land' portion was removed, leaving the iconic 'Hollywood' that remains today.