News from Riyadh

Riyadh1. Riyadh is the most populous city in the Kingdom. The capital has a population of more than 5.2 million.

2. When Saudi Prince Alwaleed bin Talal announced last week he would give away his entire $32 billion fortune to charity, he promised the money would go to deserving people and causes around the world.

Prince Alwaleed bin TalalBut his first move since the announcement isn’t very far from home: the prince has vowed to give 10,000 homes and 10,000 cars to the needy of Saudi Arabia.

The move is meant to be “an expression of [the prince’s] gratitude to the Saudi nation and its people,” according to a statement from the prince quoted by Arabian Business.

Some would question whether Saudi Arabia is the neediest place out there for the prince’s charitable work. Thanks primarily to oil, Saudi Arabia’s per capita GDP – about $55,000 – is among the highest in the world, ranking in the top 10 or top 15 on most lists in recent years.

And in a 2013 study, Saudi Arabia was found to have the world’s 10th-lowest poverty rate, with 12.7 per cent of the population below the poverty line. (Canada’s poverty rate was 9.4 per cent in the study.)

Source: Huffington, July 6

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One response to “News from Riyadh

  1. Michael Gundy

    The gesture is what counts. The Prince understands that we come naked into this world and naked we leave. Our moral time is a stop between being just dust.