Sulaiman Abdul Aziz Al Rajhi facts for kids
Quick facts for kids
Sulaiman Abdulaziz Al Rajhi
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| Born | 1929 (age 95–96) |
Sulaiman bin Abdulaziz Al Rajhi (born in 1929) is a very successful businessperson from Saudi Arabia. He is known for being one of the richest people in the world and for giving away a lot of his money to help others.
In 2012, he received the King Faisal International Prize. This award recognized him for giving half of his wealth to charity, helping to start an Islamic bank, and supporting many important projects in his country.
Contents
Early Life and Business Start
Sulaiman Al Rajhi was born in a place called Al Bukayriyah in Saudi Arabia. He grew up in the Nejd desert. When he was young, he and his brother Saleh started a simple business. They helped pilgrims travel across the desert by camel to the holy cities of Mecca and Medina. They charged a small fee for this service.
How the Al Rajhi Bank Began
Sulaiman Al Rajhi and his older brother, Saleh, worked together to build their business. They saw a need to help people send money home. During the 1970s, many workers came to Saudi Arabia because of the oil boom. The Al Rajhi brothers helped these workers send their earnings to their families in countries like India and Pakistan.
In 1983, the brothers were allowed to open Saudi Arabia's first Islamic bank, called Al Rajhi Bank. This bank follows religious rules, which means it does not charge or pay interest on money.
Growing the Family Business
Sulaiman Al Rajhi owns the largest part of his family's bank. The Al Rajhi Bank has always been one of the most successful banks in Saudi Arabia. Sulaiman is currently the chairman of this important bank.
Even though the Al Rajhi family still owns most of the bank, they have also invested in many other businesses. These include companies that work with gypsum (a type of mineral), farming, steel, and other industries.
Sulaiman Al Rajhi completed elementary school. He lives in Saudi Arabia and has many children.
Helping Others: Philanthropy
The Al Rajhi family is known as one of the wealthiest non-royal families in Saudi Arabia. They are also famous for being among the world's top philanthropists, meaning they give a lot of money to good causes.
Sulaiman Al Rajhi University
Sulaiman Al Rajhi started a non-profit university in his hometown. It is called the Sulaiman Al Rajhi University. This university mainly focuses on health studies and Islamic banking, but it also has other subjects for students to learn.
Donating His Fortune
In May 2011, Sulaiman Al Rajhi announced that he was giving most of his $7.7 billion fortune to charity. This generous act helps many people and supports various projects around the world.
See also
- Saleh Abdulaziz Al Rajhi
