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.
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.
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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