Saudi prince Alwaleed bin Talal promises $41 billion fortune to charity

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Saudi tycoon Prince Alwaleed bin Talal has promised his entire $US32 billion ($41.8 billion) fortune to charitable projects in coming years in one of the biggest ever such pledges.

The pledge is “maybe … the first such big announcement” of its kind in the region, and is modelled on a charity established by Microsoft founder Bill Gates in the United States, the prince told reporters.

Prince Alwaleed said his charity “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”.

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