Muslim prince donates entire $32 billion fortune to charity

[Tallguy88]

(Shamelessly stolen from my friend and fellow staffer Patrick Bateman)

Saudi Arabian billionaire Prince Alwaleed bin Talal has said he will donate his entire $32bn (£20bn; €29bn) fortune to charity.

The 60-year-old nephew of King Salman is one of the world's richest people.

He said he had been inspired by the Gates Foundation, set up by Bill and Melinda Gates in 1997.

The money would be used to "foster cultural understanding", "empower women", and "provide vital disaster relief", among other things, he said.

Source.

 

[Tallguy88]

This is great to see.

 

[MikeK]

This is great to see.

Very kind of him. I'm reminded of Bill Gates, a colleague of mine received several million dollars from his foundation to invent and establish sewage treatment centers in 3rd worl countries. It is working, and these systems will save thousands of lives. It was theoretically possible to build such systems before, but with nearly no anticipated short term return on investment, nobody was coming forward with the capital to do it. Private charity, whether our two coins or our millions (or our expertise) can save lives and change the world.

 

[bill5]

Impressive. Props to him!

 

[High Fidelity]

Good for him!

 

[Genersis]

Pretty cool. Hope the money finds it way to many good causes.

 

[fat wee robin]

Well he is wise because rich men have greater difficulty, than camels going through needles eyes ,to get into heaven.He is also probably not needing it as he will have comfortable home or two . And in any case no one EARNs this kind of money ,as
he needed to exploit many to have it in the first place . Bill Gates is a little different
as his work is unique and original .

 

[WarriorAngel]

Very kind of him. I'm reminded of Bill Gates, a colleague of mine received several million dollars from his foundation to invent and establish sewage treatment centers in 3rd worl countries. It is working, and these systems will save thousands of lives. It was theoretically possible to build such systems before, but with nearly no anticipated short term return on investment, nobody was coming forward with the capital to do it. Private charity, whether our two coins or our millions (or our expertise) can save lives and change the world.

I hope this works out.
From what one nun told me every time they tried to get clean water system going in Haiti - ppl sold the piping [etc] to the black market. Perhaps bigger funding - less stalling - more jobs for the Haitians - faster installment.

 

[TheBarrd]

I am thrilled to see this.
I only wish more of our uber-rich would follow his example...

 

[ebia]

I am thrilled to see this.
I only wish more of our uber-rich would follow his example...

Compared to most of the world, pretty much everyone here is in the "pretty darn rich" bracket.

 

[TheBarrd]

Compared to most of the world, pretty much everyone here is in the "pretty darn rich" bracket.

Compared to someone who can donate 32 billion, most of us are "pretty darn poor"...
But your point is well taken.