Sometimes you have to doff your caps to the mega rich. We’re not talking about thanking Donald Trump for another round of gobshite either, we’re talking a proper respect-laden fist bump going out to Prince Alwaleed bin Talal.

Today saw the Saudi Prince pledge his vast fortune, all $32 billion (R390 billion) of it, to charitable projects in the years to come. NDTV outlines his reasons below:

The prince said in a statement that the “philanthropic pledge will help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world.”

He said the donation “will be allocated according to a well-devised plan throughout the coming years” but stressed there was no time limit on when the donation would be spent.

Alwaleed bin Talal will himself handle the spending of the funds, heading the board of trustees tasked with using the money on charitable projects. The Saudi Prince said he was inspired by the likes of the Bill and Melinda Gates Foundation, the mega-wealthy American couple having succeeded in getting some of America’s wealthiest citizens to step up their charitable efforts.

Bin Talal belongs to the Saudi Royal Family and chairs Kingdom Holdings, a company with a wide range of interests ranging from the Euro Disney theme park to hotels around the world.

Let’s hope his efforts are the start of a sustained movement amongst the region’s wealthier citizens and he sets off something of a chain reaction. I wouldn’t count on it, mind you, but R390 million isn’t a bad start.

[source:ndtv]