Saudi Prince Alwaleed bin Talal, one of the world’s richest people, says he’s donating his entire wealth to philanthropic causes over the coming years.
The Prince’s contribution marks a $32 billion pledge to help build a “better world of tolerance, acceptance, equality and opportunity for all,” Alwaleed said in a statement on his website and to reporters in an announcement in Riyadh.
The figure is above and beyond the Saudi billionaire’s current fortune, who according to the Bloomberg Billionaires Index is the world’s twentieth richest person with a personal wealth estimated at $30.5 billion. A member of the royal family and a nephew to the late King Abdullah, Alwaleed built his riches through an investment holding company he founded in 1980, Kingdom Holding. The conglomerate has investments in a range of hotels and real estate – including The Four Seasons and Fairmont – and companies such as Citigroup, General Motors…
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