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Africa’s richest man, Aliko Dangote, plans to donate one-third of his wealth to charity as part of his long-term succession plan, according to his daughter, Halima Dangote.
Halima disclosed this in an interview with Bloomberg, saying the billionaire industrialist had secured his family’s support to dedicate 33 per cent of his estate to philanthropy.
Dangote’s net worth is estimated at $35.1 billion. At that valuation, one-third of his fortune would amount to about $11.7 billion.
She said philanthropy is central to her father’s legacy and has been built into the family’s succession plans.
“He sort of put all the structure in place whereby we focus a lot on health and education. He actually donated 25 per cent to the foundation. If you look at it, it is what we call in Sharia Code in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation,” she said.
“That is how important it is to him because philanthropy needs to be in existence generation after generation.
“So giving back is part and parcel of what we do. We believe we’re here, and that our business is successful because of giving back and the philanthropic aspect. That is why the 33 per cent is important.
“And that is why he made an announcement and he asked myself, my two sisters and his mother to sign under that will that he is able to give that 33 per cent to humanity.”
Earlier this year, TIME magazine named Dangote among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list, recognising his charitable work through the Aliko Dangote Foundation, which spends more than ₦50 billion annually on programmes across Africa.
The planned donation builds on Dangote’s longstanding philanthropic efforts through the Aliko Dangote Foundation, which was established in 1994.
