Sulaiman Al Rajhi & family

$2.10 B

Ranked #894 in World

About Sulaiman Al Rajhi & family

Saudi Arabian billionaire Sheikh Sulaiman bin Abdulaziz Al Rajhi, with a net worth of $7.7 billion as of 2011, making him the 120th richest person worldwide, is renowned for his extensive contributions to philanthropy, earning him the 2012 King Faisal International Prize. Born in Al Bukairiyah, Al Qassim province, Al Rajhi's entrepreneurial journey began in the Nejd desert, initially facilitating pilgrim transportation to Mecca and Medina. He co-founded and currently chairs Al Rajhi Bank, the top-performing banking group in Saudi Arabia, established on the principles of Islamic banking in 1983. The Al Rajhi family, holding a significant share in the bank, also invests in various sectors, including agriculture and steel. A fervent philanthropist, Al Rajhi has pledged most of his fortune to charitable endeavors, including the establishment of Sulaiman Al Rajhi University, focusing on health and Islamic banking. Residing in Saudi Arabia, Al Rajhi's personal life includes at least 23 children and a commitment to community development.

Born

December 25, 1927

Age

98 years

Source Of Wealth

Banking

Industries

Finance

Citizenship

Saudi Arabia

Residence

Riyadh

Sheikh Sulaiman bin Abdulaziz Al Rajhi was born in Al Bukairiyah, Al Qassim province, Saudi Arabia. Growing up in the Nejd desert, he embarked on an entrepreneurial journey with his brother Saleh. They started a business providing camel caravan transportation to pilgrims traveling to Mecca and Medina, charging a fee for their services.

Sulaiman Al Rajhi & family: Family

Sheikh Sulaiman bin Abdulaziz Al Rajhi comes from a prominent Saudi Arabian family. He has at least 23 children and resides in Saudi Arabia.

Sulaiman Al Rajhi & family: Career Highlights

Sheikh Sulaiman bin Abdulaziz Al Rajhi holds the distinction of being the largest individual shareholder in Al Rajhi Bank, Saudi Arabia's most profitable banking group. He co-founded Al Rajhi Bank with his brother Saleh and currently serves as its chairman. The bank's growth was fueled by the influx of migrant workers during the 1970s oil boom, facilitating remittances to countries like India and Pakistan.

In a groundbreaking move, Sheikh Sulaiman bin Abdulaziz Al Rajhi obtained permission in 1983 to establish Saudi Arabia's first Islamic bank. This bank strictly adheres to religious principles, such as the prohibition of interest.

The Al Rajhi family remains the majority shareholder of Al Rajhi Bank, while diversifying their investments into various industries, including gypsum, agriculture, and steel.

Sulaiman Al Rajhi & family: Companies

Sheikh Sulaiman bin Abdulaziz Al Rajhi is closely associated with the following companies:

Al Rajhi Bank
Sulaiman Al Rajhi University

Sulaiman Al Rajhi & family: Major Achievements

Sheikh Sulaiman bin Abdulaziz Al Rajhi's major achievements include:

Co-founding Al Rajhi Bank, Saudi Arabia's most profitable banking group.
Establishing Saudi Arabia's first Islamic bank, adhering to religious principles.
Diversifying investments into various industries, including gypsum, agriculture, and steel.
Becoming one of the world's leading philanthropists.

Sulaiman Al Rajhi & family: Awards & Achievements

Sheikh Sulaiman bin Abdulaziz Al Rajhi has received numerous awards and recognitions, including:

2012 King Faisal International Prize for charitable contributions.

Sulaiman Al Rajhi & family: Personal Life & Legacy

Sheikh Sulaiman bin Abdulaziz Al Rajhi is known for his philanthropic endeavors and is considered one of the world's leading philanthropists. He has established the Sulaiman Al Rajhi University in his hometown, focusing on health, Islamic banking, and other disciplines. In May 2011, he announced his intention to donate most of his fortune to charity.

Sulaiman Al Rajhi & family: Trivia

Sheikh Sulaiman bin Abdulaziz Al Rajhi has an elementary level of education.
He is Saudi Arabia's wealthiest non-royal.

Wealth History

Timeline

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Sheikh Sulaiman bin Abdulaziz Al Rajhi is born in Al Bukairiyah, Al Qassim province, Saudi Arabia.

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Sheikh Sulaiman bin Abdulaziz Al Rajhi grows up in the Nejd desert and starts a business with his brother Saleh by charging pilgrims for camel caravan transportation to Mecca and Medina.

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Sheikh Sulaiman bin Abdulaziz Al Rajhi co-founds Al Rajhi Bank with his brother Saleh and currently serves as its chairman.

1970s

Al Rajhi Bank's business growth is fueled by the influx of migrant workers during the oil boom, facilitating remittances to countries like India and Pakistan.

1983

Sheikh Sulaiman bin Abdulaziz Al Rajhi obtains permission to establish Saudi Arabia's first Islamic bank, adhering to religious principles such as the prohibition of interest.

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Sheikh Sulaiman bin Abdulaziz Al Rajhi's family remains the majority shareholder of Al Rajhi Bank, while diversifying investments into gypsum, agriculture, steel, and other industries.

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Sheikh Sulaiman bin Abdulaziz Al Rajhi has an elementary level of education.

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Sheikh Sulaiman bin Abdulaziz Al Rajhi resides in Saudi Arabia and has at least 23 children.

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Sheikh Sulaiman bin Abdulaziz Al Rajhi is considered one of the world's leading philanthropists and Saudi Arabia's wealthiest non-royals.

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Sheikh Sulaiman bin Abdulaziz Al Rajhi establishes the Sulaiman Al Rajhi University in his hometown, focusing on health, Islamic banking, and other disciplines.

May 2011

Sheikh Sulaiman bin Abdulaziz Al Rajhi announces his intention to donate most of his fortune to charity.

Sulaiman Al Rajhi & family : FAQs

What is Sulaiman Al Rajhi's net worth?

As of 2015, Sulaiman Al Rajhi's net worth was $2.10 billion.

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

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

In which industry does Sulaiman Al Rajhi primarily operate?

Sulaiman Al Rajhi is primarily involved in the Finance industry.

How old is Sulaiman Al Rajhi?

Sulaiman Al Rajhi is 98 years old.

How many children does Sulaiman Al Rajhi have?

Sulaiman Al Rajhi has 23 children.

What major award did Sheikh Sulaiman bin Abdulaziz Al Rajhi receive for his philanthropy?

Sheikh Sulaiman bin Abdulaziz Al Rajhi received the 2012 King Faisal International Prize for his charitable contributions.

How did Sheikh Sulaiman bin Abdulaziz Al Rajhi start his business and contribute to the growth of Al Rajhi Bank?

Sheikh Sulaiman bin Abdulaziz Al Rajhi started his business with his brother Saleh by charging pilgrims for camel caravan transportation to Mecca and Medina, which contributed to the growth of Al Rajhi Bank by leveraging the influx of migrant workers during the 1970s oil boom.

What significant step did Sheikh Sulaiman bin Abdulaziz Al Rajhi take in 1983 for the banking industry in Saudi Arabia?

In 1983, Sheikh Sulaiman bin Abdulaziz Al Rajhi obtained permission to establish Saudi Arabia's first Islamic bank, adhering to religious principles such as the prohibition of interest.

What major charitable contribution has Sheikh Sulaiman bin Abdulaziz Al Rajhi announced?

In May 2011, Sheikh Sulaiman bin Abdulaziz Al Rajhi announced his intention to donate most of his fortune to charity, highlighting his commitment to philanthropy.