Saudi Prince Alwaleed bin Talal announced this week that he will pledge his entire $32 billion to charity, including women’s causes, saying he took inspiration from Seattle’s Bill & Melinda Gates Foundation.
According to his foundation, Alwaleed Philanthropies, the money will “foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world.”
“Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith. With this pledge, I am honoring my life-long commitment to what matters most – helping to build a more peaceful, equitable and sustainable world for generations to come,” Alwaleed said in a prepared statement.
The Chronicle of Philanthropy noted that Alwaleed has been a “vocal champion of women’s rights in a country where women are barred from many activities including driving.”
Bill Gates praised Alwaleed’s move on Twitter:
— Bill Gates (@BillGates) July 1, 2015
According to BBC News, Alwaleed is one of the world’s richest people, as the chairman of Kingdom Holding Company.