Africa’s richest man, Aliko Dangote, is set to give away one-third of his massive fortune—estimated at about $11.7 billion—to charity as part of his succession plan.
The bombshell was revealed by his daughter, Halima Dangote, a trustee of the Aliko Dangote Foundation, during an interview with Bloomberg published on Tuesday.
According to Halima, the billionaire has already secured the backing of his family to dedicate 33 per cent of his estate to philanthropy, describing giving back as the cornerstone of his legacy.
With Dangote’s wealth currently valued at $35.1 billion, the planned donation would rank among the biggest charitable commitments ever made by an African billionaire.
“He put structures in place centred on health and education,” Halima said, adding that under Islamic Sharia inheritance rules, her father has committed one-third of his estate to the foundation.
She disclosed that Dangote’s mother and his three daughters endorsed the decision by signing the will, ensuring the donation will benefit humanity for generations.
The move strengthens the Aliko Dangote Foundation, founded in 1994. Halima said the foundation received a $1.25 billion endowment about a decade ago and has since attracted another $700 million in funding.
About 70 per cent of its spending goes to projects in Nigeria, while 20 per cent supports other African countries, with the remainder funding humanitarian initiatives worldwide.
The foundation has invested heavily in health, education, nutrition and emergency relief, partnering with the Bill & Melinda Gates Foundation and northern Nigerian states in efforts that helped wipe out wild poliovirus in Africa.
Although the donation falls short of the Giving Pledge’s 50 per cent benchmark, it places Dangote among the world’s biggest philanthropists.
Earlier this year, TIME magazine named him one of the world’s most influential philanthropists, noting that the Aliko Dangote Foundation spends more than ₦50 billion every year on charitable programmes across Africa.
