RIYADH: Alwaleed Philanthropies (AP), chaired by Prince Alwaleed bin Talal and the Giving Pledge, announced that Prince Alwaleed has become the first Arab Muslim to take the Giving Pledge.
This follows Prince Alwaleed’s announcement last July that he would pledge his entire $32 billion fortune to good causes.
Founded in 2010 by Bill and Melinda Gates and Warren Buffett, 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.
More than 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 honored 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 organizations to combat poverty, empower women and youth, develop communities, provide disaster relief and create cultural understanding through education.
Prince Alwaleed joins Bill Gates and Warren Buffett in commitment to giving more than half of their wealth to good causes
Prince Alwaleed joins Bill Gates and Warren Buffett in commitment to giving more than half of their wealth to good causes
Second firm ends DP World investments over CEO’s Epstein ties
- British International Investment ‘shocked’ by allegations surrounding Sultan Ahmed bin Sulayem
- Decision follows in footsteps of Canadian pension fund La Caisse
LONDON: A second financial firm has axed future investments in Dubai logistics giant DP World after emails surfaced revealing close ties between its CEO and Jeffrey Epstein, Bloomberg reported.
British International Investment, a $13.6 billion UK government-owned development finance institution, followed in the footsteps of La Caisse, a major Canadian pension fund.
“We are shocked by the allegations emerging in the Epstein files regarding (DP World CEO) Sultan Ahmed bin Sulayem,” a BII spokesman said in a statement.
“In light of the allegations, we will not be making any new investments with DP World until the required actions have been taken by the company.”
The move follows the release by the US Department of Justice of a trove of emails highlighting personal ties between the CEO and Epstein.
The pair discussed the details of useful contacts in business and finance, proposed deals and made explicit reference to sexual encounters, the email exchanges show.
In 2021, BII — formerly CDC Group — said it would invest with DP World in an African platform, with initial ports in Senegal, Egypt and Somaliland. It committed $320 million to the project, with $400 million to be invested over several years.
