Imagine the kind of gumption you would need to take such a decision and stick to it.

Prince Alwaleed bin Talal of Saudi Arabia is one of the richest men in the world. And in a quite surprising turn of events, he has announced plans to donate his entire $32bn fortune to charity.

According to Mail Online, Prince Alwaleed, 60, is targeting only charities working for women’s rights and those dedicated to the eradication of diseases.

Prince Alwaleed already has a reputation for extravagance, as he reportedly gave 25 Bentleys to members of a Saudi Arabia football team.

The Prince has two kids, and it’s unclear how this plan would affect his significant business holdings: holdings which include notable investments in London’s Savoy Group, Citigroup, News Corp, and Apple.

Prince Alwaleed’s personal properties include a 420 room mansion in Riyadh, the world’s largest private jet, and a fleet of more than 200 cars.