News

Saudi Prince Pledges Entire Fortune to Charity

Saudi Prince Pledges Entire Fortune to Charity

dwarfbusiness

Saudi Arabian billionaire – and nephew of the late King Abdullah – Prince Alwaleed bin Talal has announced his intention to donate his the entirety of his $32 billion wealth to philanthropic causes over the next few years.

The 60 year-old prince said he would donate the money through his organisation Alwaleed Philanthropies.

The money will then go to a variety of causes including healthcare, modernisation, intercultural understanding, eradicating disease and empowering women.

“This donation will be allocated according to a well-devised plan throughout the coming years,” said the prince. “Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith.

“With this pledge, I am honouring my life-long commitment to what matters most – helping to build a more peaceful, equitable and sustainable world for generations to come.”

The Prince has been supporting philanthropic causes for over 35 years, with donations so far amounting to $3.5 billion.

Prince Alwaleed has previously collaborated with fellow famous philanthropist Bill Gates on a polio eradication programme. Gates commented that Prince Alwaleed’s latest pledge is “an inspiration to all of us working in philanthropy around the world.”

However, despite his reputation for philanthropy, Prince Alwaleed has gained much criticism for some of his pastime activities. Most notably, his participation in the controversial practice of “dwarf-tossing” is renowned – a practice widely criticised for being both perilous and exploitative.

'IS Executioner' Executed In A New Jaysh Al-Islam Video
Israel Accuses Hamas of Supporting ISIS in Egypt

Subscribe to our newsletter


News

More in News

Egypt ‘Appreciates’ and ‘Trusts’ Final Saudi Investigation into Khashoggi Killing

Egyptian StreetsNovember 16, 2018

Archaeological Mission Unearths Ancient Pregnant Woman Burial

Egyptian StreetsNovember 14, 2018

Egyptian MP to Submit Bill Omitting Religion from National IDs to Parliament

Egyptian StreetsNovember 12, 2018

British Parliament Encourages Lifting the Travel Ban Imposed on Sharm El Sheikh

Nour EltiganiNovember 11, 2018

Egyptian Film ‘Yomeddine’ Wins at Geneva Film Festival

Mirna AbdulaalNovember 10, 2018

UN: Food Aid to Be Doubled to 14 Million Yemenis to Avert Starvation

Mirna AbdulaalNovember 10, 2018

Bedouin Tribes of ‘Sinai Trail’ Get Backing From Egypt’s Ministry of Tourism

Mirna AbdulaalNovember 10, 2018

Egyptian Committee to Amend Controversial NGO Law

Nour EltiganiNovember 9, 2018
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.