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Saudi Prince Alwaleed bin Talal has announced that he will give away his entire fortune of $32 bn to charity after his death. The Prince has stated that he would like his money to go towards helping out worthwhile charities, such as those that fight disease, disaster relief charities and ones that promote health.
He is one of the richest men on Earth, but the Prince was not always so wealthy. The grandson of Saudi Arabia's founder Ibn Saud, he started his business with a $30,000 gift from his father and a loan of $300,000.
His business quickly expanded and by 2005 he was nick named 'Buffett of Arabia' after the American business tycoon Warren Buffett, with his business reaching an estimated $30bn! News Corp, Citigroup, London's Savoy Hotel and Apple are amongst some of his investments.
This is not the first time the prince has given out extravagant gifts. He is well known for his kind gestures and generosity. Once, he gifted every member of the Saudi football team a brand new Bentley!
His assets are some of the wealthiest known on Earth. His lavish private jet is the largest in the world, complete with an extremely luxury 14 seat dining room and a comfortable gold throne in the centre.
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He also owns the 3rd biggest yacht in the world, estimated to be worth around $500mil, a 420 room palace with a 120-acre farm/resort, including five artificial lakes, a miniature version of the Grand Canyon, horse stables and a mini-zoo!
He also owns around 200 top of the most expensive cars ever made, including a diamond encrusted Mercedes Benz SL 600 worth $48 million!