Sulaiman Al Rajhi: The Billionaire Who Donated Over ₹1.3 Lakh Crore to Charity
In the world of billionaires, where wealth is often accumulated and expanded, Sulaiman Al Rajhi stands out as a remarkable exception. The Saudi businessman, who once ranked among the richest men in the world, made headlines not for his fortune but for his extraordinary act of generosity. He donated over $16 billion (₹1.3 lakh crore) of his wealth to charity, making him one of the greatest philanthropists in history. His inspiring journey from extreme poverty to immense wealth, and then to giving it all away, is a testament to his faith, humility, and commitment to the well-being of others.
From Rags to Riches: The Early Life of Sulaiman Al Rajhi
Born in 1929 in Saudi Arabia, Sulaiman bin Abdul Aziz Al Rajhi grew up in a modest family with little financial security. His early years were marked by hardships, and he had to work from a young age to support himself. At just nine years old, he worked as a porter in a local market, carrying shopping bags for customers. By the age of 12, he was collecting dates for meager wages, often sleeping on gravel with only the clothes on his back.
Despite these challenges, Al Rajhi had an entrepreneurial spirit and an unwavering belief in hard work. He took on various jobs and gradually saved money, always looking for opportunities to improve his financial situation. His journey was filled with struggles, but his perseverance paid off when he and his brothers ventured into the financial sector.
Building an Empire: The Rise of Al Rajhi Bank
In 1957, Sulaiman Al Rajhi co-founded Al Rajhi Bank with his three brothers. What started as a small financial venture soon grew into one of the largest Islamic banks in the world. Al Rajhi Bank became a leader in Sharia-compliant banking, offering interest-free financial services that aligned with Islamic principles.
Over the decades, the bank expanded rapidly, amassing billions in assets and making the Al Rajhi family one of the wealthiest non-royal families in Saudi Arabia. With his business success, Sulaiman Al Rajhi accumulated a fortune worth billions of dollars. However, he never lost sight of his humble beginnings and remained committed to giving back to society.
A Legacy of Generosity: The Unprecedented Donation
Unlike many billionaires who focus on growing their wealth, Sulaiman Al Rajhi believed in redistributing his fortune for the greater good. He made a historic decision to donate the majority of his wealth—over $16 billion (₹1.3 lakh crore)—to charitable causes. This massive donation was structured as a waqf, an Islamic endowment that ensures the funds are used for public welfare indefinitely.
He split his wealth into three parts:
- Two-thirds went to charity in the form of waqf, supporting education, healthcare, and social welfare projects.
- One-third was given to his family.
- He personally chose to live a simple and humble life despite his vast wealth.
Philanthropic Contributions: Transforming Lives
Sulaiman Al Rajhi’s generosity has had a far-reaching impact across Saudi Arabia and beyond. Some of his major contributions include:
1. Sulaiman Al Rajhi University
He established a non-profit university that focuses on health sciences, business, and Islamic banking. The institution provides high-quality education to students, ensuring that knowledge and skills are accessible to all.
2. Healthcare and Social Welfare
Al Rajhi’s donations have funded hospitals, medical research, and healthcare initiatives, improving access to medical services for underprivileged communities.
3. Hunger Relief and Poverty Alleviation
Through his charitable foundation, he has funded numerous projects aimed at eradicating hunger and poverty, ensuring that basic necessities are available to those in need.
4. Islamic Banking and Financial Support
His contributions to Islamic banking continue to support ethical financial practices and provide interest-free financial services that align with Islamic principles.
A Simple Life Despite Immense Wealth
Despite being a billionaire, Sulaiman Al Rajhi lived a remarkably modest life. He believed that wealth was a test from God and that it should be used for the betterment of society. He avoided extravagance and focused on meaningful philanthropy. In interviews, he often emphasized that money was a means to serve humanity, not a tool for personal luxury.
Recognition and Awards
In recognition of his unparalleled generosity, Sulaiman Al Rajhi received numerous awards, including the King Faisal International Prize in 2012 for his outstanding contributions to philanthropy. His impact on society continues to be celebrated as an example of selflessness and devotion to the welfare of others.
The Enduring Legacy of Sulaiman Al Rajhi
At 95 years old, Sulaiman Al Rajhi’s story serves as an inspiration to millions. His decision to donate his fortune rather than keep it for himself or his heirs is a rare and commendable act. He has set an example for other wealthy individuals, showing that true success is measured not by the wealth one accumulates, but by the impact one has on others.
Through his charitable foundation, educational institutions, and humanitarian projects, Sulaiman Al Rajhi’s legacy of kindness and generosity will live on for generations to come. His life is proof that even in a world driven by wealth and power, there are still those who choose to give rather than take.
