World's richest Arab man to give Rs 2.03 lakh crore fortune to charity

The 60-year-old would also support women's charities and those that look towards eradicating disease. Bin Talal is the grandson of Saudi Arabia's founder Ibn Saud. He was said to have started his business with a USD 30,000 gift from his father and a USD 300,000 loan.

In 2005, he was worth USD 10 billion and earned the nickname 'Buffett of Arabia' after American business magnate Warren Buffett.
His investments include London's Savoy Hotel, Apple, Citigroup and News Corp.

The businessman has been known for his extravagant gifts and previously gave 25 Bentleys to members of a Saudi football team. He also promised to give a free Bentley to every pilot involved in the Yemen airstrikes earlier this year.

In 2013, he threatened to boycott Forbes magazine for underestimating his wealth and saying he was only in 26th place in a list of the world's richest.

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