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.
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