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02 Jul 15
11:58
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05 Apr 06
Saudi Arabian billionaire Prince Alwaleed bin Talal has said he will donate his $32bn (£20bn; €29bn) personal fortune to charity.
The 60-year-old nephew of King Salman 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.
The prince, who does not hold an official government position, is chairman of investment firm Kingdom Holding Company.
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Prince Alwaleed bin Talal Al Saud
Self-proclaimed "Warren Buffett of Arabia" was born in 1955. He is the nephew of King Salman
Studied at Menlo College and Syracuse University in the US
Founder of Kingdom Holding Company, a Riyadh-based publicly traded conglomerate
First contract was to advise a Korean company building an officers' club at a Riyadh military academy. Later chose to invest the profits in local real estate
Invested $590m in struggling Citibank (now Citigroup) in 1991; stake is now worth billions
Has stakes in Disney, 21st Century Fox, News Corp, Apple, GM, Twitter, and a string of hotel chains and luxury hotels, including New York's Plaza Hotel and the George V in Paris
Considered Westernized and progressive on most issues. Champions women's rights - most of his staff are women
Owns a 371-room, 42,700 sq m (460,000 sq ft) palace in Riyadh, a Boeing 747-400 and an A380, and an 85m super yacht
Established Alwaleed Bin Talal Foundations across world to offer valuable humanitarian, educational and social assistance
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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.
"Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith," he added in a statement.
He said he hoped the gift would "help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world".
Prince Alwaleed's announcement comes during the holy month of Ramadan, when Muslims are encouraged to give charity and help the needy.
He said the donation would take place over several years and would be overseen by a board of trustees, which he will head.
The 60-year-old nephew of King Salman 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.
The prince, who does not hold an official government position, is chairman of investment firm Kingdom Holding Company.
null
Prince Alwaleed bin Talal Al Saud
Self-proclaimed "Warren Buffett of Arabia" was born in 1955. He is the nephew of King Salman
Studied at Menlo College and Syracuse University in the US
Founder of Kingdom Holding Company, a Riyadh-based publicly traded conglomerate
First contract was to advise a Korean company building an officers' club at a Riyadh military academy. Later chose to invest the profits in local real estate
Invested $590m in struggling Citibank (now Citigroup) in 1991; stake is now worth billions
Has stakes in Disney, 21st Century Fox, News Corp, Apple, GM, Twitter, and a string of hotel chains and luxury hotels, including New York's Plaza Hotel and the George V in Paris
Considered Westernized and progressive on most issues. Champions women's rights - most of his staff are women
Owns a 371-room, 42,700 sq m (460,000 sq ft) palace in Riyadh, a Boeing 747-400 and an A380, and an 85m super yacht
Established Alwaleed Bin Talal Foundations across world to offer valuable humanitarian, educational and social assistance
null
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.
"Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith," he added in a statement.
He said he hoped the gift would "help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world".
Prince Alwaleed's announcement comes during the holy month of Ramadan, when Muslims are encouraged to give charity and help the needy.
He said the donation would take place over several years and would be overseen by a board of trustees, which he will head.
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Replies: 15
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A mere oil well
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I've sent him a congratulatory email
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he has picked the charity ....ISIS
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tt
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Sounds like he has worked for his fortune and thoroughly deserves it. Obviously, this kind of generosity from 'one of THEM' doesn't go down too well with some chithat members...but I say "Fair play to you, Sir. Your generosity is a beacon in a murky world of sh1t"
You arte one gentleman who I hope WILL find his rewards in Paradise. |
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A wonderful gesture imo , more power to the man,helping women to become more enpowered in what is basically a male dominated socitey will do wonders .Maybe others will see this as the way forward and do something similar .
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most of his staff are women Owns a 371-room, 42,700 sq m (460,000 sq ft) palace in Riyadh, a Boeing 747-400 and an A380, and an 85m super yacht
sounds like a sexist greedy perv "Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith," he added in a statement. He said he hoped the gift would "help build bridges to foster cultural understanding, (invade minority communities and force them to convert or die) develop communities, (fund Islamic States) empower women, (with suicide bomb vests) enable youth, (with AK47s and RPGs) provide vital disaster relief (to previously sponsored disasters, see above) and create a more tolerant and accepting world". (or else  )or another possiblity, maybe he'll be simply handing money over to unpaid christian volunteers working with impoverished Aids victims in africa |
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.Maybe others will see this as the way forward and do something similar .
way ahead of you, have already transferred my "personal wealth" to a tax free trust which I will personally oversee the spending of.  |
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Hmmm. Many of the impoverish themselves I think. And as for Aids victims...maybe best to tell them to stop.
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Sounds like he has worked for his fortune and thoroughly deserves it.
yep, assuming he actually worked 40 hours a week (leaving little time for his super yacht, jets, mansions, harem) that works out at an hourly wage for 40 years of around $385,000 for this 'self made nephew of King'. |
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I would assume that he used the yacht for work. The jets allow him to save time and the Harem...how many jobs have you seen over here for eunuchs? Or Harem girls!
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polypot........worked down the pit for 20 years....boy has done well
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A list of Salman’s important leadership positions include:
Chairman of the Arriyadh Development Authority Higher Commissioner of Development of Diriyah Chairman of the King Fahd National Library Chairman of the King Abdulaziz Foundation Secretary-General of the King Abdulaziz Islamic Foundation Honorary President of the Prince Salman Social Center Honorary Chairman of the Riyadh Development Company Chairman of the Riyadh Charity Association Honorary Chairman of the Patient Friend Committee in Riyadh Province Chairman of the Bin Baz Benevolent Project for Assisting Youth to Marry Chairman of the Prince Salman Charity Housing Project Chairman of the Riyadh Charity Science Organization Chairman of the Orphan Care Association in Riyadh Region Chairman of the Renal Failure Patients organization in Riyadh Region Honorary Chairman of the Sheikh Abdulaziz Bin Baz Charity Organization ------------------------------------------ Salman has been married three times. He had 11 children; 10 sons, two of whom have died since, and a daughter. |
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They're up to sumin'
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jesus christ he can send 5mill my way if he wants
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