Al-Walid is is estimated to donate more than $100 million annually to charity. In 2001, he offered New York City a donation of $10 million towards relief efforts after the September 11, 2001 attacks. This was rejected by Mayor Rudy Giuliani because Al-Walid suggested that the attacks were an indication that the United States 'should re-examine its policies in the Middle East and adopt a more balanced stand toward the Palestinian cause'. (Getty Images)
The small kingdom is among the most economically vulnerable of the GCC states, with high debt levels, low reserves and slow GDP growth. But it has identified jewels in its accelerating non-oil economy that will help it forge a new path for the future.