Prince Alwaleed Announces His Fortune Will Be Donated To Charity
Saudi Prince Alwaleed bin Talal announced in a press conference held in Riyadh today that he will be donating his entire fortune to charity, in projects that will be undertaken by a designated branch of his charitable organisation Alwaleed Philanthropies over the coming years.
The Prince’s private fortune amounts to £20billon (€29billion, $USD32billion).
“Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith,” Prince Alwaleed said, also saying that his decision was inspired by the Bill and Melinda Gates Foundation.
He hopes the money 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”.
Prince Alwaleed at the press conference announcing his charity donation, July 1Filed under Saudi Arabia
Tagged Donations, Press Conference, Prince Alwaleed bin Talal of Saudi Arabia.