Prince Alwaleed Bin Talal, a nephew of late King Abdullah of Saudi Arabia, is donating all of his personal wealth to philanthropy over the coming years to help build a “better world of tolerance, acceptance, equality and opportunity for all.”
Alwaleed, who said that “it is a commitment without boundaries, a commitment to all humankind,” pledged his entire $32 billion to charitable projects to 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.
The Prince said in a statement, “Based on my dedication and passion for philanthropic work for the past 35 years, I now pledge to donate my entire wealth to the Alwaleed Philanthropies, which work in the main fields of intercultural understanding, supporting needy communities, through health promotion, eradication of diseases, provision of electric power to remote villages and hamlets, building orphanages and schools, and much more, as well as providing disaster relief and empowering women, youth and poverty alleviation. This donation will be allocated according to a well-devised plan throughout the coming years. It will be based on a strategy that is supervised and managed by a board of trustees headed by me to ensure that it will be used after my death for humanitarian projects and initiatives.”
“You may rightly wonder, why am I doing this? My response is that everyone goes through certain life-changing situations that have a great effect on his or her crucial future decisions. I have had the opportunity to witness, first hand, the challenging conditions of many communities across the globe, and have stood among those who were suffering and in great need. I have also learned of overwhelming obstacles through meetings with the leaders of countries and communities around the world… Given the world’s current economic and social conditions, and the devastating effects of war and natural disasters around the world, more collaborative efforts are required from all capable individuals to unify their stand in the effort to alleviate poverty in the most deprived communities and to advance and build their societies.”
“Intrinsic part of my Islamic faith” Saudi Prince says after donating £20b fortune to charity http://t.co/V8NyUIUluC http://pic.twitter.com/X3Yl1bQlEU
— HuffPost UK (@HuffPostUK) July 2, 2015
What will $32bn do to solve the world’s problems? http://t.co/1ETkLLZ1Hc — The Guardian (@guardian) July 3, 2015
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