Saudi billionaire Prince Alwaleed Bin Talal bin Abdulaziz AlSaud has become the first Arab Muslim to take the Giving Pledge, according to an annoucement by Alwaleed Philanthropies (AP).

The pledge follows Prince Alwaleed’s announcement last July that he would pledge his entire $32 billion fortune to good causes.

Alwaleed Philanthropies is chaired by Prince Alwaleed.

Founded in 2010 by Bill and Melinda Gates and Warren Buffet, the Giving Pledge is a global effort to help address society’s most pressing problems by encouraging the wealthiest families to give the majority of their wealth to philanthropic causes. Over 150 individuals and families have taken the pledge to date.

Signatories of the Giving Pledge aim to develop innovative approaches to solve today’s greatest challenges. These range from a number of key areas including poverty alleviation, disaster relief, global health, education and research.

The Giving Pledge also provides a forum for some of the world’s most engaged philanthropists to discuss challenges, successes and failures, and how to be smarter about giving. People who have taken the Giving Pledge are united by a shared commitment to learning and giving.

“More than three decades ago when I founded Alwaleed Philanthropies, I made a commitment to help build a more peaceful, equitable and sustainable world for generations to come,” Prince Alwaleed said. “It is this same commitment that has driven me to take the Giving Pledge today. I am honoured to be the first Arab to do so, and it is my sincere hope that many more Arabs and Muslims will join in Giving Pledge. I have been blessed with a great deal of good fortune in my life. For me, the Giving Pledge is an expression of my desire to give back, both to my community and to the wider world.”

For over 35 years, Alwaleed Philanthropies has supported and initiated projects in over 120 countries regardless of gender, race or religion. Alwaleed Philanthropies collaborates with a range of philanthropic, governmental and educational organisations to combat poverty, empower women and youth, develop communities, provide disaster relief and create cultural understanding through education, said the statement. - TradeArabia News Service