DUBAI: Saudi Arabia’s billionaire Prince Alwaleed bin Talal, one of the world’s richest people, announced Wednesday that he will donate all of his wealth of $32 billion to charity over the coming years.

The money will go to the Saudi prince’s organisation called Alwaleed Philanthropies to work in the fields of “intercultural understanding” and supporting communities in need, he said in a statement.

Programmes will include promoting health, eradicating disease, bringing electricity to remote villages, building orphanages and schools, as well as “empowering women.”

The prince, chairman of investment firm Kingdom Holding Company, said he has already donated $3.5bn to the charitable organisation.

Alwaleed joins other billionaires who have made similar pledges in recent years, such as Warren Buffett, Bill Gates, Mark Zuckerberg and Michael Bloomberg.

Published in Dawn, July 2nd, 2015

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