Saleh Al Rajhi

$5.80 B

Ranked #129 in World

About Saleh Al Rajhi

Sheikh Saleh Abdul Aziz Al Rajhi, a pioneering Saudi businessman born in 1921, established Al-Rajhi Bank, the largest Islamic banking institution globally. As the eldest of the Al Rajhi family, he ventured into construction, real estate, and agriculture, marking significant strides in each sector. His philanthropic efforts were notable in education, health, and agriculture, setting up a foundation for continuous support to various charities. Starting his business journey in Riyadh with a small trading place, Al Rajhi expanded into currency exchange by 1947, eventually founding Al-Rajhi Bank in 1957. His ventures also included the Guinness World Record-holding Al Batin Palm Project. Sheikh Saleh's legacy extends beyond banking into real estate and agriculture, significantly impacting Saudi Arabia's economic landscape.

Born

January 01, 1912

Died

February 12, 2011 (aged 99)

Source Of Wealth

Banking

Industries

Finance

Citizenship

Saudi Arabia

Residence

Riyadh

Children

Naif Saleh Alrajhi

Sheikh Saleh Abdul Aziz Al Rajhi was born in 1921 in Al-Bukayriyah, Qassim, Kingdom of Saudi Arabia. His father, Sheikh Abdul-Aziz Al-Rajhi, was a farmer and trader. In search of better business prospects, the family moved to Riyadh, where Saleh studied under the renowned scholar Sheikh Muhammad Ibn Ibrahim. By the age of 13, he had completed memorizing the Quran and various other Islamic texts.

Saleh Al Rajhi: Family

Sheikh Saleh Abdul Aziz Al Rajhi was the eldest of the Al Rajhi family. His brothers, Mohammed and Sulaiman, played significant roles in the success of their business ventures. Together, they transformed a small currency exchange shop into one of the largest Islamic banking institutions in the world.

Saleh Al Rajhi: Career Highlights

Sheikh Saleh Abdul Aziz Al Rajhi's career was marked by several notable achievements:

1947: Established a formal currency shop in Riyadh.
1957: Formally established Al-Rajhi Bank.
1993: Established Al Batin agricultural plantation in Buraydah City, Qassim region.
1994-1996: Started Durma Project, specializing in tissue palms.
1990s: Turned over leadership of Al Rajhi Bank to focus on real estate and agriculture.

Saleh Al Rajhi: Companies

Sheikh Saleh Abdul Aziz Al Rajhi was involved in several successful companies, including:

Al-Rajhi Bank
Al Rajhi Holding Company
Al Rajhi Real Estate Development Company
Al Rajhi Agriculture Development Company
Al Rajhi Charity Foundation
Al Baraka Banking Group

Saleh Al Rajhi: Major Achievements

Sheikh Saleh Abdul Aziz Al Rajhi's major achievements include:

Founded Al-Rajhi Bank, the largest Islamic banking institution in the world.
Established Al Batin agricultural plantation, recognized by the Guinness Book of World Records as the largest palm tree project.
Played a pivotal role in the development of the real estate and agriculture sectors in Saudi Arabia.
Made significant contributions to various charitable causes through the Al Rajhi Charity Foundation.

Saleh Al Rajhi: Awards & Achievements

Sheikh Saleh Abdul Aziz Al Rajhi received numerous awards and recognitions for his contributions to business and philanthropy, including:

King Abdulaziz Medal of Honor (First Class)
King Faisal International Prize for Service to Islam
Arab Bankers Association Award for Excellence in Islamic Banking
Islamic Development Bank Award for Excellence in Islamic Finance

Saleh Al Rajhi: Personal Life & Legacy

Sheikh Saleh Abdul Aziz Al Rajhi was known for his humility, generosity, and commitment to Islamic values.

He was a prominent philanthropist, making significant contributions to agriculture, education, and health. He established a foundation to ensure continuous endowments to the charities he supported. Sheikh Saleh passed away on February 12, 2011, leaving behind a legacy of entrepreneurship, philanthropy, and social responsibility.

Saleh Al Rajhi: Trivia

Sheikh Saleh Abdul Aziz Al Rajhi started his business career with a capital of just 50 Saudi Riyals.
He was known for his exceptional memory and ability to calculate complex financial transactions mentally.
Sheikh Saleh was a strong advocate for women's rights and education, supporting the establishment of schools and universities for women in Saudi Arabia.
He was a keen sportsman and enjoyed playing football and tennis in his younger years.
Sheikh Saleh was a polyglot, fluent in Arabic, English, and Urdu.

Wealth History

Timeline

1921

Sheikh Saleh Abdul Aziz Al Rajhi was born in Al-Bukayriyah, Qassim, KSA.

1930s

Worked odd jobs at local marketplace in the 1930s, initially as a porter.

1947

Opened a formal currency shop in Riyadh.

1957

Formally established Al-Rajhi Bank.

1960s

Al Rajhis were banking in major financial sectors across Europe and Asia.

1993

Established Al Batin agricultural plantation in Buraydah City, Qassim region.

1994-1996

Started Durma Project, specialized tissue palms planted on 760 hectares.

1995

Diverted focus to palm dates in 1995, planted 63,000 seedlings of 45 varieties.

1990s

Turned over leadership of Al Rajhi Bank in the 1990s to focus on real estate and agriculture.

2006

Al Batin Palm Project recognized by Guinness Book of World Records as largest palm tree project.

February 12, 2011

Sheikh Saleh Abdul Aziz Al Rajhi passed away.

Saleh Al Rajhi : FAQs

What is Saleh Al Rajhi's net worth?

As of 2010, Saleh Al Rajhi's net worth was $5.80 billion.

What are Saleh Al Rajhi's main sources of wealth?

Saleh Al Rajhi's main source of income comes from Banking.

In which industry does Saleh Al Rajhi primarily operate?

Saleh Al Rajhi is primarily involved in the Finance industry.

Is Saleh Al Rajhi dead?

Yes, Saleh Al Rajhi died on February 12, 2011 (aged 99).

How many children does Saleh Al Rajhi have?

Saleh Al Rajhi has 61 children.

Who was Sheikh Saleh Abdul Aziz Al Rajhi and what is his legacy in the banking industry?

Sheikh Saleh Abdul Aziz Al Rajhi was a prominent Saudi businessman and philanthropist, best known for founding Al-Rajhi Bank, the largest Islamic banking institution in the world. His legacy extends beyond banking into significant contributions in agriculture, education, and health through his philanthropic efforts.

What were the early life influences of Sheikh Saleh Abdul Aziz Al Rajhi?

Born in 1921 in Al-Bukayriyah, Qassim, KSA, Sheikh Saleh Abdul Aziz Al Rajhi was influenced by his father, a farmer and trader. He moved to Riyadh for better business prospects and completed his Quranic and other studies by age 13, laying the foundation for his future endeavors.

How did Sheikh Saleh Abdul Aziz Al Rajhi start his business empire?

Sheikh Saleh Abdul Aziz Al Rajhi began his business career working odd jobs at a local marketplace in the 1930s. He saved money to trade scrap items and eventually opened a formal currency shop in Riyadh in 1947, which laid the groundwork for establishing Al-Rajhi Bank in 1957.

What role did Sheikh Saleh Abdul Aziz Al Rajhi play in the development of agriculture in Saudi Arabia?

Sheikh Saleh Abdul Aziz Al Rajhi played a pivotal role in Saudi agriculture by establishing the Al Batin agricultural plantation and focusing on crops like wheat, barley, watermelons, vegetables, and particularly palm dates. His projects like the Al Batin Palm Project have been recognized internationally for their scale and success.

How did Sheikh Saleh Abdul Aziz Al Rajhi contribute to philanthropy?

As a prominent philanthropist, Sheikh Saleh Abdul Aziz Al Rajhi established a foundation for continuous endowments to support various charities. His contributions were significant in fields such as agriculture, education, and health, demonstrating his commitment to giving back to the community.