Dangote to donate one-third of his wealth to charity, daughter reveals

Aliko Dangote, the richest man in Africa, plans to donate one-third of his wealth to charity, his daughter, Halima Dangote, has revealed.  Halima, a trustee of the Aliko Dangote Foundation, disclosed this in an interview with Bloomberg published on Tuesday, July 28.  Halima said her father has secured his familys support to dedicate 33 per cent of his estate to philanthropy.  According to the Bloomberg Billionaires Index, Dangotes net worth is estimated at $35.1 billion, meaning one-third of his current fortune would amount to about $11.7 billion if maintained at that level.  Explaining the decision, Halima said her father considers philanthropy central to his legacy and has embedded it into the familys long-term 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 were here, that our business is successful because of the giving back and because of 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 worlds 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 post Dangote to donate one-third of his wealth to charity, daughter reveals appeared first on Linda Ikeji Blog.