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Friday, 12 October, 2001, 05:33 GMT 06:33 UK
On a visit to the city, Prince Al-Walid bin Talal bin Abdul Aziz - a nephew of King Fahd of Saudi Arabia and one of the world's richest men - called the destruction of the World Trade Center a tremendous crime.
But in a separate statement, he said that the US Government should reconsider its polices in the Middle East and adopt a more balanced stance toward the Palestinians.
He said the people who had attacked New York had lost any right to ask for justification when they slaughtered more than 5,000 innocent people, and the Prince's cheque would not be accepted.
Mr Walid is ranked by Forbes magazine as the world's sixth richest man, with an estimated personal fortune of 20ドル.3bn.
Palestinian issue
In a statement released by his company as he visited Ground Zero with the mayor, Mr Walid said: "I believe the government of the United States should re-examine its policies in the Middle East and adopt a more balanced stance toward the Palestinian cause.
Speaking at a City Hall news conference later, Mr Giuliani said there could be no justification for the 11 September attacks.
"The people who did it lost any right to ask for justification for it when they slaughtered four or five thousand innocent people, and to suggest that there is a justification for it only invites this happening in the future," he said.
Saudi Arabia is reported to have turned down a request for UK Prime Minister Tony Blair to visit the desert kingdom on his current tour of the Middle East.
Downing Street denied the prime minister had been rebuffed, saying Mr Blair had discussed making a visit in a telephone call with Saudi Crown Prince Abdullah last week but it could not be fitted into Mr Blair's schedule.