THE INDEPENDENT (UK) – A Saudi Prince will donate his entire $32 billion (£20bn) fortune to charity as part of a pledge modelled on the Bill and Melinda Gates Foundation.
Saudi Prince Alwaleed bin Talal announced his intention to donate the majority of his wealth to philanthropic causes in a press conference on Wednesday.
Speaking in the Saudi capital of Riyadh, Prince Alwaleed said his vast wealth would go towards promoting health, eradicating diseases, providing electric to villages, building orphanages, providing disaster relief and empowering women through his foundation, Alwaleed Philanthropies.
“The philanthropic pledge will 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,” his statement said.
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