African billionaires’ children such as Elizabeth Masiyiwa are following their parents’ stead.
African billionaires’ are collectively worth $84.9 billion, a 15% increase in their net worth compared to the last year and the highest in 2014. The increase in the wealth of these tycoons was boosted by the rise in stocks as the need for specific products increased. Some African billionaires’ children are learning from their parents and providing funding for charity activities.
Some of these billionaires, such as Strive Masiyiwa and Dangote, have founded foundations to reach the less privileged. Their children are also taking the hint, as Halima Dangote, for instance, heads Aliko Dangote Foundation (ADF). And Florence Otedolu created her eponymous foundation“Cuppy”.
Here is a list of African billionaires’ children following their parents’ stead by funding charity.
Florence Otedola – DJ Cuppy
Florence Otedola, also known as “Cuppy”, is the daughter of Nigerian billionaire Femi Otedola. She is the founder of the Cuppy Foundation. The foundation is dedicated to addressing child protection and education for girls and people with disabilities. Cuppy has been the driving force behind some initiatives, including her “Cuppy Takes Africa” trip in 2015, organised in collaboration with Guarantee Trust Bank and the Dangote Foundation.
She has also sponsored several students to attend university in Nigeria. She has raised over $13 million for organisations such as Global Citizen, the Royal Commonwealth Society, and the Save The Children Initiative. She is estimated to be worth $2.5 million.
Elizabeth Tanya Masiyiwa
Elizabeth Tanya Masiyiwa is the daughter of Zimbabwean billionaire Strive Masiyiwa. She is the executive director of Delta Philanthropies. The Masiyiwa family founded the foundation. It is a UK-registered charity controlled by the nation’s Charity Commission.
The foundation is centred on education, health, rural development and sustainable livelihoods, disaster assistance and preparedness. Millions of dollars have been invested in the foundation, and over 15 million individuals have benefited from it.
She is the daughter of the South African billionaire Johann Rupert. She is the founder and creative director of Okapi, the continent’s first luxury brand produced entirely from locally sourced materials. She is also the founder and creative director of Merchants on Long (MoL), a well-known African concept store.
Before founding the two companies, Hanneli studied painting and worked as a professional painter for several years. She is a trustee of the South African children’s education organisation Imibala.
The Imibala Trust is a recognised non-profit organisation in South Africa that works with school-aged children whose lives have been impacted by poverty. The Trust creates a platform that provides programs that make a significant and quantifiable difference in the lives of children now and future. She is a member of the Tate International Council.
Halima Aliko Dangote is the daughter of the richest man in Africa. She is the executive director of the Aliko Dangote Foundation (ADF). With the most significant investment by a single African donor, the foundation has grown to become the largest private foundation in Sub-Saharan Africa. The foundation is focused on health, education, empowerment, and humanitarianism.
Jonathan Oppenheimer is the only child of South African billionaire Nicky Oppenheimer. He is a philanthropist and businessman. He started his career at NM Rothschild & Sons before transferring to Anglo American and then De Beers, where he held several top management positions for two decades.
Jonathan was a driving force behind the establishment of the Brenthurst Foundation, a Johannesburg-based think tank that discusses strategies to propel Africa into long-term prosperity. The Foundation is on the cutting edge of new ideas and creative measures for improving Africa’s economic performance. Jonathan plays a critical part in its sustained success as a member of the International Advisory Board.
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