Saudi prince pledges $32 billion to charity

Saudi Arabian Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud - who made billions investing in American, European and Middle Eastern companies - pledged his $32 billion fortune to philanthropy, CNNMoney reports.

The money, which would be donated upon his death, would go to humanitarian causes, including health care, education and poverty.

"Philanthropy [...] is an intrinsic part of my Islamic faith," Alwaleed said in a news release. "With this pledge, I am honoring my life-long commitment to what matters most - helping to build a more peaceful, equitable and sustainable world for generations to come."

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