Some people always think big and always like to do something good for the sake of poor and the needy. One such person who had implemented this in massive proportions is Saudi Arabian Prince Alwaleed Bin Talal. This billionaire prince of Saudi Arabia born on 7th March 1955 has pledged his entire wealth of $ 32 billion for the charity now. Prince in a statement spoke about how this pledge by him would help in promote cultural understanding, development of communities, make women stronger. He also spoke about this amount could be used as disaster relief purposes and in the making of more tolerant world.
Prince Alwaleed also said that this donation towards charity would be used as per well devised plan in the coming years and time limit regarding when this amount would be used would not be there.
Alwaleed also said that this amount of his would still be used after his death for some humanitarian purposes and he would himself head the board of trust. This prince comes from Royal family of Saudi Arabia and he is nephew of King Abdullah. Apart from the media based investments, he also has other diversified investments ranging from Euro Disney theme park to Four Seasons Hotels and Citigroup. Prince is also building a tower in the Red sea city of Jeddah.
Alwaleed is known for his high profile and doesn’t have any government rank in Kingdom of Saudi Arabia. The Prince also spoke about how Bill and Melinda Gates foundation and other humanitarian funds of USA had inspired him. In 2010, Bill Gates and Warren Buffet announced ”Giving Pledge” foundation, and around 200 individuals all over the world had assured that they would be giving half of their wealth for charitable purposes.
He also said that this pledging of his wealth would not hamper in the investment and in any future projects of Kingdom Holding Co which is considered to be the Prince major investment type. His charity work for the people of Saudi is well known, His charity named Alwaleed Philanthropies had distributed houses and supplied electricity to the isolated people of Saudi apart from lending support to various projects all over the world.
Bloomberg Billionaire Index has stated that Prince Alwaleed is the richest in the Kingdom of Saudi Arabia, whose wealth rose to 12.7% in last year. Investment bank CDC International Capital (CDCIC) belonging to France would be investing atleast $150 million in Kingdom Holding Co.
Prince Alwaleed also told the reporters that, in over 35 years he had donated $ 3.5 billion already for charitable purposes. He also told that his son Prince Khalid and daughter Princess Reem would be the President and Vice-president of his charitable organisation after him.
