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Thu, November 7, 2024
Pakistan
World Now

Meet Sulaiman Al Rajhi, A Saudi Man Who Lost ‘Billionaire Status’ After Donating $16 Billion To Charity

Source: Arabian Business

Sulaiman Al Rajhi, a Saudi Arabian businessman and philanthropist, made headlines around the world when he announced that he had donated a staggering $16 billion to charity. The donation resulted in him losing his billionaire status, but for Al Rajhi, the decision to give away his wealth was a natural one.

Who is Sulaiman Al Rajhi?

Born in the city of Al Bukayriyah, Al Rajhi started his career as a money changer before founding the Al Rajhi Bank in 1957 with his brothers. The bank went on to become one of the largest Islamic banks in the world.

Source: Arabian Business
Source: Arabian Business

Al Rajhi’s philanthropic activities were not new, as he had been involved in various charitable initiatives for many years. However, his decision to donate $16 billion, which is equivalent to one-third of his wealth, was a landmark moment in his life and in the history of philanthropy in Saudi Arabia.

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A selfless act, a huge impact

The donation was made through the Sulaiman Al Rajhi Endowment, which supports a range of charitable causes, including education, healthcare, and social welfare. The endowment has already had a significant impact, with the construction of hospitals, schools, and mosques in various parts of the country.

Source: Middle East Eye
Source: Middle East Eye

Al Rajhi’s decision to give away his wealth has been praised by many as a testament to his selflessness and commitment to helping others. It is a reminder that wealth is not just a measure of one’s success, but also a tool that can be used to make a positive impact in the world.

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