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Thursday, July 02, 2015

Saudi Arabia’s Prince Alwaleed To Give Away $32 Billion


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





59 comments:

  1. Replies
    1. How 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?

      Delete
    2. I am the one you are looking for. Lol

      Delete
  2. Nawa oooh
    Some people are blessed!
    Is alright.

    ReplyDelete
  3. Dangote
    Look at your mate

    ReplyDelete
  4. Dont 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.

    DONT BELIEVE THE HYPE!!!

    ReplyDelete
    Replies
    1. 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..

      Delete
    2. Gift 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 .

      Delete
  5. Really? God bless him. Stella abeg give me his contact details ASAP. Lol

    ReplyDelete
  6. Really? 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

    ReplyDelete
    Replies
    1. Booty goggle wot? Hahahhabahahaha
      una no well.

      Nzube,miracle do happen!
      Keep checking ur box for the next 7 days.
      I repeat,Miracles do happen.

      Delete
  7. That is why these arab countries progress everytime. Only in Nigeria, billionnaires go show you jet, ship and costly wines.

    ReplyDelete
  8. Wow! Really so Nice of him.

    Your comment will be visible after approval

    ReplyDelete
  9. a.k.a EDWIN CHINEDU AZUBUKO said..
    .
    Oboy..... Am sure the kids and relative are not happy with this development......
    .
    .
    ***CURRENTLY IN JUPITER***

    ReplyDelete
  10. a.k.a EDWIN CHINEDU AZUBUKO said..
    .
    Oboy... Am sure his relative and love once must be dying of anger.....
    .
    .
    ***CURRENTLY IN JUPITER***

    ReplyDelete
  11. 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
  12. *holds head in prayers*

    Ori mi, eleda mi jowo gbemi k'ore.

    ReplyDelete
    Replies
    1. Hahahahahhaha
      I 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"

      Delete
    2. LMAOOO! Don't mind me jare GW. Howdy hun? Enjoy d weekend. Cheers

      Delete
  13. This is how to know genuine rich men, they are rich in giving.
    Not all these poverty stricken so called rich Nigerian men that managed to stumble upon money, claiming rich man!

    ReplyDelete
  14. Please how can I get my share of this giveaway money????

    ReplyDelete
  15. When will I have sooo much wealth to give out too?

    ReplyDelete
  16. Wow we still have good muslims around after all.

    ReplyDelete
    Replies
    1. This ur comment no just follow. How many real muslims do u hv a close relationship with in ur teeny weeny days on earth again?

      Delete
  17. All I see is the Money!
    AnD 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.

    ReplyDelete
  18. If it's real and intended for good. Then God bless him.

    ReplyDelete
  19. The sad thing about this give away is that it'll never get to the people that actually need it!!!

    ReplyDelete
  20. Re-invested back into ur business under different name. So some fools can say u r a good man.. thief

    ReplyDelete
  21. Quick question to other bloggers here.
    Is 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

    ReplyDelete
  22. Human investment is d highest investment anybody can do. Nigerian rich ppl should learn from this.

    ReplyDelete
  23. Wow
    God bless him for this
    I have missed my fav blog
    Trying to develop myself
    Cant be waiting for govt.

    ReplyDelete
  24. Oh Lord, open my chapter!


    Please visit my lovely blog Liflblog.wordpress.com

    ReplyDelete
  25. My name be Charity, Charity Mbalewe.

    ReplyDelete
  26. Thank you sir. Oh Lord please remember me today.

    ReplyDelete
  27. Remind him that he need to GIVEAWAY to SDKBVS for it to be complete!

    ReplyDelete

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