Dangote to give away one-third of fortune for charity
Aliko Dangote, Africa’s richest man, plans to donate one-third of his wealth to charity as part of his succession plan, according to his daughter Halima Dangote. Halima, a trustee of the Aliko Dangote Foundation, revealed that the billionaire has secured his family’s support for this major philanthropic move. The foundation, established in 1994, focuses on health, education, nutrition, and humanitarian relief. This planned donation would be one of the largest ever by an African billionaire.
TLDR
- Aliko Dangote intends to dedicate 33 per cent of his estate to philanthropy through the Aliko Dangote Foundation.
- Halima Dangote stated that philanthropy is central to her father’s legacy and succession planning.
- The foundation was endowed with $1.25 billion about a decade ago and has since received an additional $700 million.
- Around 70 per cent of the foundation’s spending is directed to Nigeria, with 20 per cent supporting projects across Africa.
- The foundation partners with organizations like the Bill & Melinda Gates Foundation and spends over ₦50 billion annually on programmes.
