Saudi’s Prince Alwaleed’s pledges entire $32bn fortune to charity

Saudi Arabian billionaire Prince Alwaleed bin Talal, the chairman of Kingdom Holding, said on Wednesday that the $32 billion of his wealth being allocated for philanthropy will include assets inside and outside the kingdom.

Prince Alwaleed said some of the donated wealth will include his personal stake in Kingdom Holding, the investment firm in which he owns the vast majority of the stock, but no shares would be sold and there would be no impact on the company’s share price from his actions.

He declined to give a timeframe for the allocation of the sum to charity but said it would not impact on his overall investment strategy.

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