Saudi prince to donate $32bn fortune to charity. Saudi Arabian billionaire Prince Alwaleed bin Talal has said he will donate his $32bn (£20bn; €29bn) personal fortune to charity. The 60-year-old nephew of King Salman is one of the world's richest people. He said he had been inspired by the Gates Foundation, set up by Bill and Melinda Gates in 1997.
Self-proclaimed "Warren Buffett of Arabia" was born in 1955. He is the nephew of King Salman. Studied at Menlo College and Syracuse University in the US. Founder of Kingdom Holding Company, a Riyadh-based publicly traded conglomerate. First contract was to advise a Korean company building an officers' club at a Riyadh military academy.
Profile: Prince Alwaleed bin Talal. The company owns stakes in hotels The Four Seasons, Fairmont and Raffles, as well as News Corp, Citigroup, Twitter and Apple. The prince will be donating his personal wealth. "This is very much separate from my ownership in Kingdom Holding," he said at the announcement.