<His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz Al Saud, Chairman of the Board of Trustees of Alwaleed Philanthropies, announced at a press conference that he has pledged to donate his wealth to charitable and humanitarian works in the amount of 120 billion Saudi riyals (32 billion dollars), according to the studied plan for the coming years: “to build a better world, where tolerance, acceptance, equality and opportunities for all prevail.” His Highness emphasized that this pledge is “a pledge without any restrictions or borders, a pledge to all humanity.”

He added that the charitable work will move from individual efforts to institutionalization, which will be a strong push for it forward and ensure its continuity, stressing at the same time that “Alwaleed Foundation for Humanity” works according to a special advanced system that subjects what is received to committees that study these cases, and added that such an announcement came after much study and consultation and that he is happy with the decision, especially since he found full support from his son Khaled and his daughter Reem.