RIYADH, Saudi Arabia, July 2 (UPI) -- Saudi Arabian Prince Alwaleed bin Talal has pledged to donate his $32 billion fortune to charity.
The prince added that he ha previously donated $3.5 billion over more than 35 years.
The donation will occur over several years and be overseen by a board of trustees that he will lead. He stressed that there is no timeline for the donation of the funds and that his foundation, Alwaleed Philantropies, would be involved in distributing the funds.
The prince is No. 34 on Forbes magazine's list of the world's richest people. A chairman of the investment firm Kingdom Holding Co., the prince holds interests in Disney, Four Seasons Hotels, Citigroup and other companies. He has commissioned the construction of a tower in Jeddah, Saudi Arabia, that will rise more than 3,300 feet to become the world's tallest building.