African business leader Aliko Dangote plans to commit 33 percent of his fortune to philanthropic initiatives as part of his estate and succession planning.
His daughter, Halima Dangote, disclosed this in an interview with Bloomberg.
She said the decision followed formal family consent to include the major bequest in his will. According to her, the 33 percent represents the maximum allowed under Islamic Sharia inheritance law for third-party bequests.
With Dangote’s net worth estimated at $35.1 billion by the Bloomberg Billionaires Index, the pledge translates to about $11.7 billion for charitable causes.
Halima, a trustee of the Aliko Dangote Foundation, said the foundation focuses on health, education, nutrition and emergency relief. She added that 70 percent of funding supports initiatives in Nigeria, 20 percent goes to projects across Africa, and 10 percent funds international programmes.
Established in 1994, the foundation previously received a $1.25 billion endowment a decade ago and an additional $700 million later.
The organization has notably collaborated with the Bill & Melinda Gates Foundation and northern Nigerian state governments on public health campaigns, including the eradication of wild poliovirus in Africa.
Headline options with letter count:
- Dangote To Donate $11.7bn, 33% Of Fortune To Charity — 51 chars
- Aliko Dangote Pledges Third Of $35bn Fortune To Philanthropy — 60 chars
- Dangote Secures Family Consent For $11.7bn Charity Bequest — 58 chars
- Dangote Foundation To Get 33% Of Fortune In Estate Plan — 55 chars
Tightest banner: Dangote Pledges 33% Of Fortune To Charity — 42 chars
Want me to also draft a quote box with Halima’s key lines for layout?
