Inspired by the Bill & Melinda Gates Foundation, Saudi prince to donate entire $32 billion fortune

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Here's someone whose heart is in the right place: The nephew of Saudi Arabia's late King Abdulluh, Prince Alwaleed bin Talal, has announced plans to spend the entirety of his $23 billion fortune on charitable projects in the coming years, Agence France-Presse reports. Alwaleed cited the Bill & Melinda Gates Foundation and other U.S. philanthropic organizations as his model.

Alwaleed's billions "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," the prince said in a statement. And even if the cash outlasts him, Alwaleed says the money will continue toward humanitarian projects after his death.

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Jeva Lange
Jeva Lange

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.