It's the largest amount ever given to charity: ben 32 billion dollars. The Saudi prince's assets amount to that much Alwalid bin Talal who has decided to donate his entire fortune. The news has been spread from the BBC.
The money will be used to finance projects aimed at "building bridges between different cultures, developing communities, promoting women's rights, helping young people, providing relief in the event of natural disasters and creating a more tolerant world," the prince said. .
“This gift will be distributed over the next few years according to a well-conceived plan,” he added, explaining that there will be no time limit, on the model of the foundation of the American billionaire Bill Gates.
The assets will be "managed and supervised by a board of directors", of which the prince will preside, but the commitment will continue even after his death.
Alwalid bin Talal is the chairman of the investment firm Kingdom Holding Company, which holds stakes in the Four Seasons, Fairmont and Raffles hotels, as well as in News Corp, Citigroup, Twitter and Apple.
