IslamicFinance.de

Saudi Arabia's billionaire Prince al-Waleed bin Talal repeatedly invoked the name Bill Gates this week when he pledged his entire $32-billion fortune to charity. He also cited Warren Buffett, who has pledged his wealth to the Gates foundation. The Saudi and the American philanthropists are already collaborating on an effort to eradicate polio, among other things, the prince noted. His foundation, Alwaleed Philanthropies, will focus on empowering women and youths, providing disaster relief, eradicating disease, and bridging cultures both inside and beyond the Arab world. The work will be conducted in communities regardless of religion, a decision the prince defended more than once during his news conference. He described the timeline for his philanthropy as "open-ended".