Prince Alwaleed of Saudi Arabia has announced that he will donate his entire $32 billion fortune to charity,he said he was inspired by Bill and Melinda Gates Foundation.
Prince Alwaleed who is currently the number 34 of Forbes list of world richest people said the money will be used to promote cultural understanding,empower women,and provide vital disaster Relief, among others.
The money will go to his Charity foundation,Alwaleed Philanthropies,which he already donates $3.5 billion.
He does not hold any Government official position,but his is the Chairman of Investment firm, Kingdom Holding Company,The company owns stakes in Apple, Twitter,Citigroup,Hotels The Four Seasons,Fairmount and Raffles, as well as News Corp.
Prince Alwaleed announcement came during the holy month of Ramadan when Muslims are encouraged to give to the needy and the poor
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".
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