Alwaleed: Divestment, ‘giving pledge’s

The Four Seasons Toronto, owned by Prince Alwaleed Bin Talal’s Kingdom Holding Company (KHC), has been put on the market with a price tag of $156-195m, according to media reports. The hotel is owned by KHC and Cascade Investment, owned by Bill Gates. In early June, the billionaire prince became the first Arab to take the ‘Giving Pledge’, an initiative set up in 2010 by Bill and Melinda Gates with Warren Buffet to encourage the world’s wealthiest families to give the majority of their wealth to philanthropic causes.