Prince Alwaleed bin Talal, 60, a Saudi Arabian billionaire, is donating his entire $32bn (£20bn; €29bn) fortune to charity. He said he had been inspired by the Gates Foundation and that his money would be used, among other things, to “foster cultural understanding”, “empower women”, and “provide vital disaster relief”. The donation will take place over several years, overseen by a board of trustees headed by Prince Alwaleed.