Prince Alwaleed says to give $32 bln to charity in coming years

Pulse Staff 09:14 - 01 July 2015

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

Saudi Arabian billionaire Prince Alwaleed bin Talal, the chairman of Kingdom Holding, will donate $32 billion to charity in coming years via Alwaleed Philanthropies, he said on Wednesday.

The sum represents his entire wealth, he told a news conference in Riyadh, and will be given to charities including those that promote health, disease eradication, disaster relief and women's rights. He did not say in an initial statement what impact, if any, it would have on his holdings.

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