From Poverty to Philanthropy: The Billionaire Who Donated Everything

Sulaiman Abdul Aziz Al Rajhi

From Poverty to Philanthropy: The Billionaire Who Donated Everything

By Bing Jabadan – TheNATIONWEEK.com | March 23, 2026

RIYADH, Saudi Arabia – While tales of corruption often dominate headlines, the remarkable story of Sulaiman Abdul Aziz Al Rajhi offers a powerful counter-narrative of unparalleled generosity.

Once estimated by Forbes to be the 120th richest person globally, with a net worth of $7.7 billion, Al Rajhi has intentionally reduced his personal fortune to approximately $590 million, choosing to dedicate the vast majority of his wealth to charity.

Al Rajhi’s journey began in extreme poverty. As a child, he toiled as a porter at age nine, carried dates for meager wages at twelve, and even slept on gravel at his workplace.

His early life saw him working as a cook, a waiter, and a kerosene wholesaler before a small grocery shop he founded was sold to finance his wedding.

His fortunes turned when he joined his brother Saleh in a currency exchange business, which ultimately grew into Al Rajhi Bank, the world’s largest Islamic bank.

Having built his empire from nothing, Al Rajhi chose to give most of it away. He donated an astonishing $16 billion throughout his lifetime, two-thirds of his fortune, to a waqf – an Islamic endowment. 

The remaining third was distributed among his 23 children, leaving nothing for himself. When asked about his personal expenses, he simply stated, “Nothing. I am in my eighties. What would I possibly need? The endowment pays my bills and provides me with accommodation, food, medical care, and transportation, which I try to keep at a minimum.”

His charitable foundation is a force for good, supporting education, healthcare, anti-hunger initiatives, and social welfare across Saudi Arabia and beyond. 

He established the non-profit Sulaiman Al Rajhi University, focusing on health sciences and Islamic banking, and funded numerous hospitals, medical research, and poverty eradication programs.

The $16 billion endowment is recognized as one of the largest in Islamic history, funding thousands of projects annually. 

Despite his immense generosity, Al Rajhi maintained an extraordinarily simple lifestyle. His Riyadh office featured basic furniture and threadbare carpets, and he eschewed luxury of any kind.

In recognition of his profound impact, Al Rajhi received the King Faisal International Prize in 2012 for dedicating half his fortune to charity and implementing effective national projects. 

He stands as a beacon of philanthropy, a billionaire who not only pledged to give but actively distributed his wealth during his lifetime, witnessing the tangible impact of his profound belief that his fortune belonged to those most in need.