© AFP Saudi Arabia”s billionaire Prince Alwaleed bin Talal speaks to reporters during a press conference in the Saudi capital, Riyadh, on July 1, 2015. Saudi Arabian billionaire Prince Alwaleed bin Talal has said he will donate his entire $32bn (£20bn; €29bn) fortune to charity.Prince Alwaleed, 60, is one of the world’s richest people.He said he had been inspired by the Gates Foundation, set up by Bill and Melinda Gates in 1997.The money would be used to “foster cultural understanding”, “empower women”, and “provide vital disaster relief”, among other things, he said.Mr Gates praised the decision, calling it an “inspiration to all of us working in philanthropy around the world”.Prince Alwaleed is at number 34 on the Forbes list of the world’s richest people.The money will go to the prince’s charitable organisation, Alwaleed Philanthropies, to which he has already donated $3.5bn.
‘Intrinsic part of my faith’
The prince, who does not hold an official government position, is chairman of investment firm Kingdom Holding Company.
The company owns stakes in hotels The Four Seasons, Fairmont and Raffles, as well as News Corp, Citigroup, Twitter and Apple.
The prince will be donating his personal wealth. “This is very much separate from my ownership in Kingdom Holding,” he said at the announcement.
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