A Saudi prince is giving away his $42 billion fortune, starting with 10,000 homes and cars for needy families
It always warms the heart to read about acts of generosity, no matter how small. Well, prepare yourself for the mother of all generous acts: a Saudi prince has pledged to give away his $42.7 billion fortune to charity.
Prince Alwaleed Bin Talal made the announcement last week, revealing that he would be donating 10,000 houses and 10,000 cars over the next ten years through his charity, the Alwaleed Philanthropies Foundation. This is just the first gift made by the prince, who signed up for The Giving Pledge, created by Bill and Melinda Gates, and Warren Buffet.
The prince said that philanthropy is “a personal responsibility,” and revealed that the money he donates will be used 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.”
Prince Alwaleed is listed as number 34 on the Forbes list of the richest people in the world. For years, the prince has been involved with charitable efforts in concert with the Bill & Melinda Gates Foundation, The Carter Cener, and the Weill Cornell Medical College.
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