Saudi Prince Donates Billions To Charity

A Saudi Prince will donate his entire $32 billion (?20bn) fortune to charity as part of a pledge modelled on the Bill and Melinda Gates Foundation.Speaking in the Saudi capital of Riyadh, Prince Alwaleed said his vast wealth would go towards promoting health, eradicating diseases, providing electric to villages, building orphanages, providing disaster relief and empowering women through his foundation, Alwaleed Philanthropies. Mr Gates praised the decision, calling it an "inspiration to all of us working in philanthropy around the world". The money will go to the prince's charitable organisation, Alwaleed Philanthropies, to which he has already donated $3.5bn.Saudi Prince Donates Billions To CharityPrince Alwaleed is at number 34 on the Forbes list of the world's richest people.Alwaleed owns the investment firm Kingdom Holding Company, which has stakes in Apple, Twitter, Disney, GM, News Corp and 21st Century Fox, and several hotel chains including The Four Seasons. He is the nephew of Saudi King Salman, but doesn’t hold a formal position in the country’s government, and is considered progressive on many issues, including women’s rights. 
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