Saudi billionaire Prince gave $20 million each to Harvard and Georgetown in 2005

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12/13/2005, "Saudi Prince Donates $40 Million to Harvard, Georgetown Universities," ABCNews.com, Ahuja

"A Saudi prince has donated $20 million each to Harvard University and Georgetown University to advance Islamic studies and further understanding of the Muslim world. 

Prince Alwaleed bin Talal Alsaud -- whom Forbes magazine ranks as the fifth wealthiest person in the world, with assets worth $23.7 billion -- is the nephew of Saudi Arabia's King Abdullah.

"Bridging the understanding between East and West is important for peace and tolerance," Alwaleed said in a statement released by Harvard.

At Harvard, the money will fund four new senior staff professorships as well as an endowed chair in the name of the 48-year-old billionaire. Harvard will also use the funds to begin digitizing historically significant Islamic texts and materials, and make them available for research on the internet.

"We are very grateful to Prince Alwaleed for his generous gift to Harvard," President Lawrence H. Summers said. The gift is considered one of the 25th largest in university history. 

At Georgetown, the money will allow the university to expand its Center for Muslim-Christian Understanding, which will be renamed "The HRH Prince Alwaleed bin Talal Center for Muslim-Christian Understanding." The center describes itself as the only program of its kind "to build stronger bridges between the Muslim world and the West."

"This gift will deepen Georgetown's ability to advance education in the fields of Islamic civilization and Muslim-Christian understanding, and strengthen its presence as a world leader in facilitating cross-cultural and inter-religious dialogue," said Georgetown University President John J. DeGioia.

The gift, which is the second largest in the university's history, will endow three faculty chairs in Alwaleed's name, provide scholarships, broaden research, increase policy discussions, and develop better library facilities."...


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