Saudi's Alwaleed says to give $32 billion to charity in coming years

Reuters News
Posted: Jul 01, 2015 6:16 AM

RIYADH (Reuters) - Saudi Arabian billionaire Prince Alwaleed bin Talal, the chairman of Kingdom Holding, will donate $32 billion to charity in coming years via Alwaleed Philanthropies, he said on Wednesday.

The sum represents his entire wealth, he told a news conference in Riyadh, and will be given to charities including those that promote health, disease eradication, disaster relief and women's rights. He did not say in an initial statement what impact, if any, it would have on his holdings.

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(Reporting By Angus McDowall, Editing by William Maclean)