The Telegraph is reporting that Austrian millionaire Karl Rabeder is giving away every penny of his millions after realizing his riches were making him unhappy. Rabeder says it was hard to give up the trappings of his luxurious lifestyle but he finally found the courage to do it.

“More and more I heard the words: ‘Stop what you are doing now – all this luxury and consumerism – and start your real life’,” he told the Telegraph. “I had the feeling I was working as a slave for things that I did not wish for or need.”

The philanthropist is using his business acumen to sell off his fortune to put it to use for charity. It is reported that the money will go to his microcredit charity, which offers small loans in Latin America and builds development aid strategies to self-employed people in El Salvador, Honduras, Bolivia, Peru, Argentina and Chile.

Read more about the millionaire who is giving away his fortune and how he will do it.