Saudi Prince Donates Billions to Charity

Alwaleed bin Talal bin Abdul-Aziz Al Saud, an investor, business man, and Saudi royalty, announced last week that he will donate all of his fortune ($32 billion) to charity within the next few years.

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According to the Huffington Post, Alwaleed recently stated, “‘It is a commitment without boundaries. A commitment to all humankind,’” (Saudi Prince Says He Will Donate $32 Billion to Charity). Alwaleed is the CEO of Kingdom Holding Company, an investment organization located in Saudi Arabia, and also has made significant investments in Apple, Twitter, Citigroup, GM, Euro Disney, and many other well-known companies.

At 60 years old, Alwaleed plans to donate billions to Alwaleed Philanthropies, his nonprofit organization that supports a wide array of causes, such as disease and poverty eradication, intercultural understanding, women empowerment, and disaster relief. At a recent press conference, the prince spoke about his plans to allocate the money, saying, “‘It will be based on a strategy that is supervised and managed by a board of trustees headed by me to ensure that it will be used after my death for humanitarian projects and initiatives,’” (The Huffington Post, Saudi Prince Says He Will Donate $32 Billion to Charity).

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Furthermore, according to the Huffington Post, “Gender, race or religious affiliation will not factor into which humanitarian issues are addressed,” (Saudi Prince Says He Will Donate $32 Billion to Charity).

To read more about Alwaleed’s business and philanthropic life, check out the Huffington Post’s article here.