London: A Saudi Arabian
billionaire is planning to give his entire USD 32-billion (Rs 2.03 lakh crore)
fortune to charity, media reported. Prince Alwaleed bin Talal, one of the
richest men in the world, said he wanted to donate to groups that promote
health and help with disaster relief, it said.
The 60-year-old would also
support women's charities and those that look towards eradicating disease. Bin
Talal is the grandson of Saudi Arabia's founder Ibn Saud. He was said to have
started his business with a USD 30,000 gift from his father and a USD 300,000
loan.
In 2005, he was worth USD 10
billion and earned the nickname 'Buffett of Arabia' after American business
magnate Warren Buffett.
His investments include London's
Savoy Hotel, Apple, Citigroup and News Corp.
The businessman has been known
for his extravagant gifts and previously gave 25 Bentleys to members of a Saudi
football team. He also promised to give a free Bentley to every pilot involved
in the Yemen airstrikes earlier this year.
In 2013, he threatened to boycott
Forbes magazine for underestimating his wealth and saying he was only in 26th
place in a list of the world's richest.
The prince first came to the
attention of the magazine when he contacted them following the publication of
their first list in 1988. He wanted to inform them of his wealth and ensure
that he was included in the next one.
But the relationship soured when the 2013 annual list claimed he was worth
'only' 13 billion pounds. The super yacht owner, who is married to Princess
Amira Al-Taweel and has two children, also enjoys the world's largest private
jet and a fleet of more than 200 cars. His properties include a 420-room
mansion in Riyadh, which boasts of various swimming pools and portraits of
himself, as well as a 120-acre 'farm and resort'.
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