Prince Alwaleed Bin Talal To Donate $32 Billion Fortune To Charity
Trending News: Meet The Man Who Just Pledged $32 Billion To Charity
Why Is This Important?
Because it’s nice to see the ultra-wealthy spread the love around.Long Story Short
Saudi prince Alwaleed bin Talal says he’ll donate his entire fortune, estimated at $32 billion, to charity. Bin Talal is one of the wealthiest people in the world and is known as the “Arabian Warren Buffett.”Long Story
One of the main complaints against wealth inequality, both domestic and worldwide, is that when the wealthy accumulate money, they keep it (“trickle down” economics never did come to fruition). That may be true in general, but at least one man, Saudi prince Alwaleed bin Talal, is doing his part by donating his entire $32 billion fortune to charity.Referred to as the “Arabian Warren Buffett,” bin Talal and the Berkshire Hathaway magnate have a lot in common. Both began somewhat humbly, though bin Talal less so — his grandfather is Saudi Arabia founder Ibn Saud. However, he claims to have started his business career with $30,000 from his father and a $300,000 loan. Today, his holdings include London’s Savoy Hotel, Apple and various financial companies.
Warren Buffett famously states that he won’t be passing his fortune down to his heirs when he dies. Now, he’s joined by bin Talal, who says all of his $32 billion will go to charities, including those that promote health, disaster relief and women’s groups. Whatever he chooses, those charities should be pretty flush for years to come. The Daily Mail has pictures of the interiors of some of his private aircraft if you want an idea of what $32 billion can buy.
Question is, why didn't he bailout Greece?
Own The Conversation
Ask The Big Question: How can we convince more of the mega-rich to use their wealth for good?Disrupt Your Feed: If he slid me $3.2 million, that would only be 1/10,000th of his whole fortune.
Drop This Fact: If you counted one number every second (impossible), you couldn’t count to 32 billion in your lifetime - counting to just one billion would take nearly 32 years.
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