Sheikh Sulaiman bin Abdulaziz Al Rajhi (

Arabic Arabic (, ' ; , ' or ) is a Semitic languages, Semitic language spoken primarily across the Arab world.Semitic languages: an international handbook / edited by Stefan Weninger; in collaboration with Geoffrey Khan, Michael P. Streck, Janet C ...

:الشيخ سليمان بن عبدالعزيز الراجحي born 1929) is a Saudi Arabian corporate figure and billionaire. As of 2011, his wealth was estimated by

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

to be $5.9 billion, making him the 169th richest person in the world. Sheikh Sulaiman AlRajhi

He received the 2012

King Faisal International Prize The King Faisal Prize ( ar, جائزة الملك فيصل, formerly King Faisal International Prize), is an annual award sponsored by King Faisal Foundation presented to "dedicated men and women whose contributions make a positive difference". T ...

for dedicating half his fortune to charity, starting an Islamic bank, supporting charity work and implementing effective national projects.

Biography

Sulaiman Al Rajhi was born in Al Bukairiyah, located in

Al Qassim AL, Al, Ål or al may stand for: Arts and entertainment Fictional characters * Al (''Aladdin'') or Aladdin, the main character in Disney's ''Aladdin'' media * Al (''EastEnders''), a minor character in the British soap opera * Al (''Fullmetal ...

province in

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...

, and grew up in the

Najd Najd ( ar, نَجْدٌ, ), or the Nejd, forms the geographic center of Saudi Arabia, accounting for about a third of the country's modern population and, since the Emirate of Diriyah, acting as the base for all unification campaigns by the H ...

desert where he and his brother Saleh began their business by charging money for

pilgrim A pilgrim (from the Latin ''peregrinus'') is a traveler (literally one who has come from afar) who is on Pilgrimage, a journey to a holy place. Typically, this is a physical journey (often on foot) to some place of special significance to the a ...

s taking camel

caravan Caravan or caravans may refer to: Transport and travel *Caravan (travellers), a group of travellers journeying together **Caravanserai, a place where a caravan could stop *Camel train, a convoy using camels as pack animals *Convoy, a group of veh ...

s across the desert to the cities of

Mecca Mecca (; officially Makkah al-Mukarramah, commonly shortened to Makkah ()) is a city and administrative center of the Mecca Province of Saudi Arabia, and the Holiest sites in Islam, holiest city in Islam. It is inland from Jeddah on the Red ...

and

Medina Medina,, ', "the radiant city"; or , ', (), "the city" officially Al Madinah Al Munawwarah (, , Turkish: Medine-i Münevvere) and also commonly simplified as Madīnah or Madinah (, ), is the Holiest sites in Islam, second-holiest city in Islam, ...

. Sulaiman Abdulaziz Al Rajhi holds the largest individual stake in his family's

Al Rajhi Bank AL, Al, Ål or al may stand for: Arts and entertainment Fictional characters * Al (''Aladdin'') or Aladdin, the main character in Disney's ''Aladdin'' media * Al (''EastEnders''), a minor character in the British soap opera * Al (''Fullmetal ...

, which has consistently reported the most profitable operations amongst all of

's banking groups. A co-founder of the

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

, with the older brother, Saleh, he is currently the chairman of what is nationally recognized as the

Tadawul Saudi Stock Exchange () or Tadāwul () is a stock exchange in Saudi Arabia. Tadāwul was formed in 2007 as a joint stock company and the sole entity authorized to act as a securities exchange in Saudi Arabia, but trading began in 1954 as an info ...

's most venerable institution. The Al Rajhi brothers’ business growth and expansion was fed by the flood of migrant workers to Saudi Arabia during the 1970s oil boom. The Al Rajhis helped them send their earnings home to places like Indonesia and Pakistan. In 1983, the brothers won permission to open Saudi Arabia’s first Islamic bank, one that would observe religious tenets such as a ban on interest. The Al Rajhi family continues to be

's majority shareholders though Sulaiman and his brothers have diversified family investments into gypsum, agriculture, steel, and other industrial sectors. His higher educational degree was elementary degree. He lives in

and has at least 23 children.

Philanthropy

The Al Rajhi family is considered, by most in Saudi Arabia, as the country's wealthiest non-royals, and among the world's leading philanthropists. He established the Sulaiman Al Rajhi University in his hometown, a non profit university. The university's main focus is on health and Islamic banking, but contains other faculties as well. In May 2011, he announced he was donating most of his $7.7 billion fortune to charity.

References

Notes

Sources

Profile: Sulaiman Abdul Aziz al-Rajhi
* Saleh Abdul Aziz Al Rajhi

External links