On July 1, 2015, Prince Alwaleed bin Talal bin Abdulaziz Alsaudof Saudi Arabia announced he's giving away his entire $32 billion fortune to charity. Here's the announcement.
His gargantuan gift will go to his own nonprofit, Alwaleed Philanthropies, throughout the next several years. There, the dollars will bolster a handful of causes worldwide, like empowering women, eradicating diseases, assisting in disaster relief, ending poverty, increasing intercultural understanding, developing underserved communities. He says he has been inspired by Bill Gates' generosity.
The foundation's grantmaking is in several areas: Developing Communities, Empowering Women and Youth, Providing Vital Disaster Relief ... and Bringing Cultures Together. As for the latter, it will
- Involve a university with proven credentials as a center of learning.
- Focus on research and outreach to promote interfaith and intercultural relations.
- Promote understanding of Islam in the West and the understanding of the West in the Islamic world.
- Demonstrate commitment to foster dialogue and discussions.
