A Saudi Man Sulaiman Al Rajhi donated $16 Billion:
The Rajhi family:
The Rajhi family, renowned philanthropists and considered to be one of Saudi Arabia’s wealthiest non-royals, built their fortune from scratch. Although known for their lavish lifestyle, Sulaiman bin Abdul Aziz Al Rajhi revealed in an interview that he had experienced poverty on two occasions in his life. Sulaiman began working at the age of nine as a porter, carrying shoppers’ luggage at Riyadh’s Al Khadra market. By the age of 12, he was collecting palm dates, earning a monthly wage of no more than six Saudi Riyals. He used to sleep on gravel at the same workplace, wearing the same clothes he wore during his hard work. Sulaiman appreciates his wealth and knows that others will benefit too. He chose not to give his children money when they were young, instead insisting that they work for it.
In 1957, Sulaiman bin Abdul Aziz Al Rajhi, along with his three brothers, cofounded Al Rajhi Bank, which has since grown into one of the world’s largest Islamic banks, earning Al Rajhi a net worth in the tens of billions. Sulaiman also established the Sulaiman Al Rajhi University, a non-profit university that focuses mainly on health and Islamic banking. He received the King Faisal International Prize in 2012 for dedicating half of his fortune to charity, as well as starting an Islamic bank that supports charitable work and national projects.
Sulaiman has donated $16 billion:
Sulaiman has given away $16 billion (60 billion riyals) throughout his lifetime, one of the largest endowments made in the Islamic world, in the form of a waqf – an Islamic endowment – which is the donation of valuable goods, including money, buildings, land, or other assets to the public, with no intention of reclaiming them back. The donated assets are no longer owned by anybody and cannot be bought or sold, nor can they be used for generating profit. Two-thirds of Sulaiman’s entire wealth has been given to charity in this way, with the remaining one-third going to his family. He has dedicated his bank shares, his poultry farm, and other assets to a charitable endowment that funds anti-hunger efforts and education in Saudi Arabia.
Sulaiman Bin Abdul Aziz Rajhi Charitable Foundation:
Sulaiman Bin Abdul Aziz Rajhi Charitable Foundation, founded by Sulaiman, supports educational, religious, health, and social causes, and has donated to the Arab Institute for Arabic Language, National Guard Health Affairs, and the Sheikh Sulaiman bin Abdul Aziz Al Rajhi Mosque in Riyadh, Saudi Arabia. Recently, Sulaiman used Snapchat to share the extent of his charitable efforts, attracting thousands of viewers to a Snap Chat interview conducted by social media star Mansour al-Reqeiba.
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