In a world where billionaires often chase legacy through accumulation, one man chose to build his through divestment. Sulaiman Al Rajhi, once ranked among the richest people on the planet, stunned the global business community when he gave away nearly $16 billion of his fortune , not out of necessity, but out of faith.
Now aged 95, the Saudi banking tycoon and philanthropist made headlines for what is considered one of the largest individual charitable donations in modern history. His decision? Simple, yet profound: “Everything I gave, I gave for God.”
From Sandals to Shares
Born into a poor family in Al-Qassim, Saudi Arabia, Al Rajhi began his life carrying luggage and goods for others. He would later rise from porter to powerhouse, co-founding Al Rajhi Bank in 1957 with his brothers. Today, it stands as one of the world’s largest Islamic banks, with over $100 billion in assets and operations spanning multiple countries, including Jordan, Kuwait, and Malaysia.
But Al Rajhi’s business empire extended far beyond banking. His ventures included:
Al-Watania Poultry, the largest poultry producer in the Middle East
Al Rajhi Real Estate Investments, managing premium properties across Saudi Arabia
Al Rajhi Cement Company, a key player in the Gulf’s construction boom
Sulaiman Al Rajhi University in Al Bukayriyah , a nonprofit institution focused on health sciences, medical training, and Islamic finance
Investments in agriculture, logistics, manufacturing, and energy
At its peak, his business portfolio was estimated to be worth more than $25 billion.
The Waqf That Shook the World
In an unprecedented move, Al Rajhi placed two-thirds of his wealth into a waqf , an Islamic endowment model that funds perpetual charitable works. His waqf supports education, healthcare, food security, water access, and religious development, ensuring long-term impact far beyond his lifetime.
The remaining one-third was divided among his children, securing his family’s future while freeing his soul for a higher purpose.
This transition removed him from the Forbes Billionaires List , but elevated him to a rarer list: those who gave it all away while still alive.
Redefining Success
In an era defined by hoarding and inheritance, Al Rajhi’s story stands out as a radical rejection of materialism. His vision challenges the global elite: why wait until death to give, when you can change lives now?
Sulaiman Al Rajhi didn’t just build businesses, he built a movement, a mindset, and a model for ethical capitalism rooted in faith and service.
His legacy isn’t etched in marble or yachts, but in schools, hospitals, mosques, farms, and futures.
In the end, he gave up billions , and gained something priceless.
That’s not just charity. That’s leadership.
Courtesy Photo
