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The tycoon said he wants to give the money away to avoid becoming "the richest man in the graveyard".
Bannatyne, 59, started his business career with an ice cream van he purchased for £450. He currently runs a chain of health clubs and his estimated worth is £200 million.
He said: "Giving away the money you make is the best reason for making it in the first place and we rich in Britain don't do enough yet."
Bannatyne recently made a documentary called Rich List: Giving It Away, in which he meets Britain's high earners to find out if they are donating enough money to charity. The programme will air on ITV1 on April 24.
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