Saudi Arabian billionaire Prince Alwaleed bin Talal has pledged to donate his entire £20 billion ($32 billion) fortune to charity, saying that philanthropy “is an intrinsic part of my Islamic faith".
Bill Gates congratulated the prince on Twitter, saying the pledge was an "admirable milestone".
The nephew of Saudi Arabia's King Salman, Prince Alaweed is one of the richest people in the world, appearing at number 34 on Forbes' list billionires, with an estimated net worth of $28.5 billion.
The money will be used to "help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world", he said.
The prince also shared the news on Twitter, accompanied by a video of the announcement in which he details his plans in full.
Laura Silver is a reporter for BuzzFeed News and is based in London.
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