African billionaire Aliko Dangote commits $11bn estate to charity

Africa’s richest man, Aliko Dangote, plans to donate a third of his wealth to charity as part of his succession strategy, his daughter, Halima Dangote, has revealed.

Halima, a trustee of the Aliko Dangote Foundation, disclosed the arrangement during an interview with Bloomberg published on Tuesday, confirming that the billionaire had secured his family’s support to dedicate 33 per cent of his estate to philanthropic causes.

According to the Bloomberg Billionaires Index, Dangote’s net worth is estimated at $35.1 billion. A third of his current fortune would amount to approximately $11.7 billion.

Explaining the decision, Halima said her father views philanthropy as central to his legacy and has embedded it into the family’s long-term succession planning.

“He has put a structure in place where we focus heavily on health and education. He has allocated 33 per cent of his estate to the foundation, which aligns with Islamic principles under Sharia law,” she said.

“That is how important this is to him, because philanthropy must endure from generation to generation. Giving back is integral to everything we do. We believe our business thrives because of our commitment to philanthropy—that is why dedicating 33 per cent is so crucial.

“He made the announcement and asked me, my two sisters, and his mother to sign the will, ensuring that 33 per cent is committed to humanity.”

The planned donation builds on Dangote’s ongoing humanitarian work through the Aliko Dangote Foundation, established in 1994. Halima noted that the foundation was endowed with $1.25 billion roughly a decade ago and has since received an additional $700 million in funding.

Around 70 per cent of the foundation’s expenditure is directed towards Nigeria, with 20 per cent supporting projects across the rest of Africa, and the remainder funding initiatives globally.

The foundation’s interventions focus on health, education, nutrition, and emergency relief. Its notable work includes partnerships with the Bill & Melinda Gates Foundation and northern Nigerian state governments, which played a pivotal role in eradicating wild poliovirus across the continent.

While the proposed 33 per cent allocation falls short of the 50 per cent benchmark typically associated with The Giving Pledge, it represents one of the largest philanthropic commitments ever announced by an African billionaire. Earlier this year, TIME magazine named Dangote among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list, acknowledging the foundation’s annual expenditure of over ₦50 billion on developmental programmes across Africa.