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  HOME | Society (Click here for more)

Billionaire Saudi Prince to Donate Entire Fortune to Charity

RIYADH – Saudi Prince Al-Waleed bin Talal announced on Wednesday that he will donate his self-estimated $32 billion fortune to humanitarian projects in upcoming years through his Al-Waleed bin Talal Foundation.

The donation, nearly his entire fortune, will fund charities, particularly those devoted to fighting disease, disaster relief work, and promoting women rights, the tycoon said in a press conference in Riyadh.

Al-Waleed ranks No. 34 on the 2015 list of the world’s richest people published by Forbes.

The 60-year-old prince owns stock in several private and public companies in the Middle East, Europe and the United States, including Twitter and major hotel chains.

In Saudi Arabia, Al-Waleed also operates in real estate and holds assets aside from managing the Kingdom Holding Company.

The divorced father of two, according to Forbes, is worth around $28.5 billion.

 

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