World's 34th richest person, Saudi Billionaire Prince Alwaleed bin Talal has vowed to donate his entire fortune worth \u00a320 billion to charity. The money will be used to foster cultural understanding, empower women and provide vital disaster relief among other things. The Prince said he was inspired by Bill Gates' initiative which urges billionaires all around the world to donate 50% of their wealth. Warren Buffett decided to give away his fortune worth $44 billion to five major charities of the world. 85% of his wealth was to be donated within a month with a large part going to the Bill and Melinda Gates Foundation. The 'Oracle of Omaha' billionaire promised to give away 99% of wealth, a pledge that was unmatched in the world of the super-elite. Bill Gates pledged to donate his entire \u00a330 billion ($58 million) fortune to charity. He promised to transfer his money to his charity, the Bill and Melinda Gates Foundation, which funds health and education projects. In 2010, he along with business tycoon Warren Buffet started an initiative, The Giving Pledge to get billionaires to donate half or more of their fortune to charity. Mark Zuckerberg, one of the youngest billionaires of the world signed the Giving Pledge initiative by Bill Gates and Warren Buffett and promised to donate more than half of his wealth to charity. Earlier, he had donated an undisclosed amount to an open social network project Diaspora and $100 million to Newark Public Schools. Facebook founder's fortune was worth $6.9 billion at that time. Apple CEO Tim Cook decided to give away all his wealth to charity after he finished paying for his nephew's college education. Cook who is close to becoming a billionaire, had his pay at Apple doubled to $9.2 million in 2014. In 2014, he had $145 million worth of stock awards and another $536 million in stock awards were yet to come. Judy Faulkner, founder and CEO of Epic Systems said that she will donate 99% of her personal wealth to charity. Faulkner who's worth $2.3 billion claimed that she never had the desire to live a lavish life. She said, My goal in pledging 99% of my assets to philanthropy is to help others with roots\u2014food, warmth, shelter, healthcare, education\u2014so they too can have wings 137 billionaires or billionaire families have signed the Giving Pledge initiative till now, including Manoj Bhargava, the richest Indian in America. World's 34th richest person, Saudi Billionaire Prince Alwaleed bin Talal has vowed to donate his entire fortune worth \u00a320 billion to charity. The money will be used to foster cultural understanding, empower women and provide vital disaster relief among other things. The Prince said he was inspired by Bill Gates' initiative which urges billionaires all around the world to donate 50% of their wealth. Mark Zuckerberg and his wife Dr. Priscilla Chan announced that they will donate 99% of their Facebook shares in their lifetime for charitable purposes. This announcement was made by Zuckerberg in an open letter to his new-born daughter Max. The money amounting to $45 Bn, will be given to the Chan Zuckerberg initiative and will be utilized to make the world a better place. After Mark Zuckerberg, Facebooks' COO Sheryl Sandberg has decided to donate $31 million in Facebook stock to charity. Securities and Exchange Commission document contended that Sandberg had bequeathed 290,000 shares of Facebook stock to various charities. The money is expected to go to causes she has supported in the past like women's empowerment group Lean In, to help support women in the workplace.