Saudi investor Prince Alwaleed Bin Talal is donating his entire $32 billion fortune to charity

He said he had been inspired by the Gates Foundation, set up by Bill and Melinda Gates in 1997.

The money would be used to “foster cultural understanding”, “empower women”, and “provide vital disaster relief”, among other things, he said.

Mr Gates praised the decision, calling it an “inspiration to all of us working in philanthropy around the world”.

Prince Alwaleed is at number 34 on the Forbes list of the world’s richest people.

The money will go to the prince’s charitable organisation, Alwaleed Philanthropies, to which he has already donated $3.5bn.

The prince, who does not hold an official government position, is chairman of investment firm Kingdom Holding Company.

The prince will be donating his personal wealth. “This is very much separate from my ownership in Kingdom Holding,” he said at the announcement.

“Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith,” he added in a statement.

He said he hoped the gift would “help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world”.

Prince Alwaleed’s announcement comes during the holy month of Ramadan, when Muslims are encouraged to give charity and help the needy.

He said the donation would take place over several years and would be overseen by a board of trustees, which he will head.

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7 thoughts on “Saudi investor Prince Alwaleed Bin Talal is donating his entire $32 billion fortune to charity

  1. I wish I could personally contact him to give him my wish list which is buying me a house if its not too much to ask.

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  2. If the prince is reading this please Be careful of the charity you give because some of them are just working undercover to turn themselves into milionaires.

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  3. I believe in giving but dont strip yourself of all your assets. Poor is a crime, if you are poor people will step and walk all over you.

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  4. Dont give it to no charity my boss. Contact poor kids parents around the world and give them the help they need. They could probably remove their children off the streets after they are able to buy a home and provide some security with your help.

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  5. Thats a very nice thing to do. Dont sign any papers and hand it over to thieves give to people that really need it.

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