Saudi Prince Gives Away Fortune

Uplifting News reports that Prince Alwaleed bin Talal of Saudi Arabia is giving away his entire $32 billion dollar fortune. The Prince, the 26th richest man in the world, says that he hopes to build bridges for cultural understanding with the gifts, and that it will help empower women. His foundation will be modeled on the Gates Foundation, and he will chair the board of trustees.

The Aspire New Brunswick writes that there is no deadline on when the gifts will be given, and it is not involved with his Kingdom Holding Corporation which has interests in Disney, Four Seasons Hotels, Citicorp and more. He wishes his new foundation to go on giving to humanitarian projects even after his death, reports DW. Prince Alwaleed is the nephew of King Abdullah of Saudi Arabia, but he holds not government seat. In Saudi Arabia he is considered unusual and outspoken on humanitarian, women’s, and cultural issues.

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