Wednesday, July 01, 2015

Saudi prince Alwaleed pledges $32bn to charity

Whenever I see this kind of headlines, I just give thanks to God for blessing folks especially those who have passion to help their brothers... Saudi Arabia's billionaire Prince Alwaleed bin Talal has pledged his entire $32bn fortune to charitable projects over the coming years.
The prince said in a statement that the "philanthropic pledge will 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 donation "will be allocated according to a well-devised plan throughout the coming years", he said, but stressed there was no time limit for the donation to be spent.
Alwaleed said he would head a board of trustees tasked with spending the funds, adding the pledge would still be used after his death "for humanitarian projects and initiatives".
Alwaleed told reporters he has already donated a total of $3.5bn over more than 35 years through his Alwaleed Philanthropies.
The charity has distributed houses and provided electricity to isolated Saudi communities, while supporting other projects around the world.

Aljazeera

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