Saudi Arabian billionaire Prince Alwaleed bin Talal has said he will donate his entire $32bn (£20bn; €29bn) fortune to charity. Prince Alwaleed, 60, is one of the world's richest people. He said he had been inspired by the Gates Foundation, set up by Bill and Melinda Gates in 1997. The money would be used to "foster cultural understanding", "empower women", and "provide vital disaster relief", among other things, he said. Mr Gates praised the decision, calling it an "inspiration to all of us working in philanthropy around the world". Prince Alwaleed is listed by Forbes at number 34 on the list of the world's richest people. The money will go to the prince's charitable organisation, Alwaleed Philanthropies, to which he has already donated $3.5bn. 'Intrinsic part of my faith' The prince, who does not hold an official government position, is chairman of investment firm Kingdom Holding Company. The company owns stakes in hotels The Four Seasons, Fairmont and Raffles, as well as News Corp, Citigroup, Twitter and Apple. The prince will be donating his personal wealth. "This is very much separate from my ownership in Kingdom Holding," he said at the announcement. "Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith," he added in a statement. He said he hoped the gift would "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's announcement comes during the holy month of Ramadan, when Muslims are encouraged to give charity and help the needy. He said the donation would take place over several years and would be overseen by a board of trustees, which he will head.

The money will go to the prince's charitable organisation

Originally posted by borntodiethisway To his own organization?

Originally posted by OhRly? Mixed feelings about this

Originally posted by borntodiethisway To his own organization?

What's the problem?

Originally posted by Giselle What's the problem?

Originally posted by Giselle What's the problem?

Originally posted by borntodiethisway You obviously still have control of the money, also I don't know how things work in the Middle East but that's how people stiff the IRS here.

This is true...however I find it funny how whenever a person of middle eastern descent/ arab does something charitable, good or positive , ppl think there is an ulterior motive.
Can we not just congratulate him for doing this? and then if something spills with controversy then we can drag him for filth?

When Bill Gates, Lady Gaga, Warren Buffet, Miley and others do it and send money into their own charities they are praised to the gates of heaven.
when an ethnic man does it who is Muslim ppl say b.s like "idk how I fell..." like what do you mean "idk how I feel" are you even kidding me? your not supposed to feel your supposed to say "wow! good on him!"

double standards.
and i'm not calling you out sis I'm talking in general.

Originally posted by OhRly? Also, there are so many great organizations that actually help people in need, why not do some research and share the money? We're talking about 32 billion, he can afford sending a couple of millions to Redcross, doctors Without Borders and others

Originally posted by OhRly? Also, there are so many great organizations that actually help people in need, why not do some research and share the money? We're talking about 32 billion, he can afford sending a couple of millions to Redcross, doctors Without Borders and others

Originally posted by borntodiethisway You obviously still have control of the money, also I don't know how things work in the Middle East but that's how people stiff the IRS here.

It might be his foundation but there's most likely an entire board of directors/controllers.

Originally posted by RockStarShit666 Drag ha/them, IBeMe.