Saudi Prince Alwaleed pledges $32 bn fortune to charity

Saudi tycoon Prince Alwaleed bin Talal on Wednesday promised his entire $32 billion (28.8 billion euro) fortune to charitable projects in coming years, in one of the biggest ever such pledges. The pledge is "maybe... the first such big announcement" of its kind in the region, and is modelled on a charity established by Microsoft founder Bill Gates in the United States, the prince told reporters. Alwaleed said he would head a board of trustees tasked with spending the funds, which would still be used after his death "for humanitarian projects and initiatives".

Saudi Prince Alwaleed pledges $32 bn fortune to charity source: http://finance.yahoo.com/news/saudi-prince-alwaleed-pledges-entire-32-bn-fortune-105948149.html