Saudi Arabia’s Prince Alwaleed bin Talal has pledged to give away $32 billion over the coming years.
There is no time scale set for the donation, which represents all of his fortune, according to Alwaleed. The billionaire is the world’s 20th richest person with $30.5 billion, according to the Bloomberg Billionaires Index.
The gift would benefit Muslim and non-Muslim countries, Alwaleed said in a press conference in Riyadh today. It would be used for work in areas including inter-cultural understanding, disease eradication, providing power to remote areas, building orphanages and schools, disaster relief and empowering women, he said.
Since Bill Gates and Warren Buffett announced the Giving Pledge in 2010, about 200 individuals from around the world have promised to give away more than half of their fortune in life or death. Gates and Buffett are leading by example. The two richest Americans, who are worth $151 billion combined, according to the Bloomberg Billionaires Index, have put more than $46 billion into the Gates foundation.
The Prince hoped the gift would build a “better world of tolerance, acceptance, equality and opportunity for all,” he said in a statement.
Gates Support
Alwaleed is the richest person is Saudi Arabia and his wealth has risen by $3.4 billion, or 12.7 percent, this year, according to the Bloomberg Billionaires Index.
He said in his statement that he has already donated $3.5 billion to his philanthropy unit, which has been working with The Bill and Melinda Gates Foundation and The Carter Center to strengthen health care and control epidemics. Alwaleed spoke to Bill Gates yesterday, who was supportive of the giveaway, the Prince said.
The pledge will not impact any of the investments or future projects of Kingdom Holding Co., the Prince’s primary investment vehicle, he said. Alwaleed owns 95 percent of Kingdom, the investment company through which he holds stakes in Citigroup Inc. and Twitter Inc. It sold off a stake valued at almost $190 million in News Corp. in February, reducing its holding in Rupert Murdoch’s media company to about 1 percent.
French state-controlled investment bank CDC is leading a group of companies that willinvest at least $150 million in Kingdom Holding, the Riyadh-based company said on Friday.
Culled from Bloomberg.com
Good.
ReplyDeleteHow can I get in touch with his PA to the PA of his PA's cousin's uncle's wife nephew's step sister's neighbour's cleaner?
DeleteI am the one you are looking for. Lol
DeleteNa wa!
ReplyDeleteAdonbilivit
DeleteNawa oooh
ReplyDeleteSome people are blessed!
Is alright.
Dangote
ReplyDeleteLook at your mate
Chei
DeleteDont get carried away darling Stella. This is the common scheme by billionaires to engage in legal tax avoidance. What they do is move funds from their taxable businesses to a charity foundation thereby making that fund tax exempt. Bill Gates, Warren Buffet, Richard Branson, Mo Ibrahim all use this tactic.
ReplyDeleteDONT BELIEVE THE HYPE!!!
U r so informed.. just like when Satan give u cap, e go collect d head wey u wan take wear d cap in return..
DeleteGift aid scheme. But I think that's awful lot of money to spend just for tax evasion. He promising a lot more than he's currently worth so I don't think that's why he's giving out his money .
DeleteReally? God bless him. Stella abeg give me his contact details ASAP. Lol
ReplyDeleteReally? God bless him. Stella abeg give me his contact details ASAP. Please inbox it, don't put it here so that other BV'S will not copy it. LMAO
ReplyDeleteGoogle it
DeleteBooty goggle wot? Hahahhabahahaha
Deleteuna no well.
Nzube,miracle do happen!
Keep checking ur box for the next 7 days.
I repeat,Miracles do happen.
Lol
DeleteThat is why these arab countries progress everytime. Only in Nigeria, billionnaires go show you jet, ship and costly wines.
ReplyDeleteWow! Really so Nice of him.
ReplyDeleteYour comment will be visible after approval
Chaiiiiii!!!!PRINCE LOCATE ME OOO.
ReplyDeleteLOL
Lol... Ify
Deletea.k.a EDWIN CHINEDU AZUBUKO said..
ReplyDelete.
Oboy..... Am sure the kids and relative are not happy with this development......
.
.
***CURRENTLY IN JUPITER***
LWKM
DeleteCHAI.
a.k.a EDWIN CHINEDU AZUBUKO said..
ReplyDelete.
Oboy... Am sure his relative and love once must be dying of anger.....
.
.
***CURRENTLY IN JUPITER***
That's really nice of him but giving is one thing, proper management and disbursement is another . A lot of people have given millions to some countries in Africa but the citizens of those countries are still hungry. Some handlers are fraudulent and end up squandering the money. I only hope the money is properly managed to ensure that its put to good use and achieves it's aim.
ReplyDelete*holds head in prayers*
ReplyDeleteOri mi, eleda mi jowo gbemi k'ore.
Hahahahahhaha
DeleteI knew I would find u here holding ur head in Prayers hahahhahahaha
As I read dis post eh,I come dizzy small.den I come let out a deep sigh and said "U are not a partial GoD.show me love oooo"
LMAOOO! Don't mind me jare GW. Howdy hun? Enjoy d weekend. Cheers
DeleteThis is how to know genuine rich men, they are rich in giving.
ReplyDeleteNot all these poverty stricken so called rich Nigerian men that managed to stumble upon money, claiming rich man!
So nice of him...
ReplyDeletePlease how can I get my share of this giveaway money????
ReplyDeleteWhen will I have sooo much wealth to give out too?
ReplyDeleteWow we still have good muslims around after all.
ReplyDeleteThis ur comment no just follow. How many real muslims do u hv a close relationship with in ur teeny weeny days on earth again?
DeleteAll I see is the Money!
ReplyDeleteAnD the Rich mole on his rich face.
Bless u Sir!
DEAR Generous GoD,
Please show d General Much Love like u did to this man.Amen.
Ameeeeeeeeeeeeeeeen!
DeleteAmen
DeleteAmen! And mine too....
DeleteI feel like giving that "Rich" mole a kiss
DeleteLolz
DeleteAmen amen and amen.
DeleteThanks BEautiful people!
#TheVoiceOfPeopleIsDVoiceOfGod
#TestimonyLoading
If it's real and intended for good. Then God bless him.
ReplyDeleteOnye nku
ReplyDeleteWell done
ReplyDeleteThe sad thing about this give away is that it'll never get to the people that actually need it!!!
ReplyDeleteRe-invested back into ur business under different name. So some fools can say u r a good man.. thief
ReplyDeletegenerousity
ReplyDeleteQuick question to other bloggers here.
ReplyDeleteIs uploading/approving comments as difficult as pounding yam, or lifting a bag cement?
I for like know o, so I can understand with madam social entepreneur..
Lol
Human investment is d highest investment anybody can do. Nigerian rich ppl should learn from this.
ReplyDeleteWow
ReplyDeleteGod bless him for this
I have missed my fav blog
Trying to develop myself
Cant be waiting for govt.
Oh Lord, open my chapter!
ReplyDeletePlease visit my lovely blog Liflblog.wordpress.com
Owo jen ni e lowo.
ReplyDeleteC'est une bonne idée!!!
ReplyDeleteMy name be Charity, Charity Mbalewe.
ReplyDeleteThank you sir. Oh Lord please remember me today.
ReplyDeleteGod bless my hustle
ReplyDeleteIt is well
ReplyDeleteit is well
ReplyDeleteRemind him that he need to GIVEAWAY to SDKBVS for it to be complete!
ReplyDeleteit is well
ReplyDelete