Saudi Businessman Lost Billionaire Status After Donating $19 Billion
Sulaiman bin Abdul Aziz Al Rajhi, co-founder of Al Rajhi Bank and a prominent figure in Saudi Arabia’s business community, donated $19 billion.
The 95-year-old businessman has donated a significant portion of his wealth ($19 billion) to various charitable causes, effectively reducing his net worth and relinquishing his billionaire status.
Donation Details
Al Rajhi decided to split his wealth, giving half to his children and the other half to charity. This monumental act of generosity saw around 221 million SAR being allocated to the Sulaiman Bin Abdul Aziz Al Rajhi Charitable Foundation. The foundation focuses on several key areas, including:
- Education: Supporting educational institutions and scholarships.
- Religion: Funding religious activities and institutions.
- Healthcare: Contributing to the construction and operation of healthcare facilities.
- Social Issues: Addressing various social challenges through targeted programs.
This charitable move by Al Rajhi has set a benchmark in philanthropy, earning him widespread respect and admiration.
Current Net Worth of Sulaiman Bin Abdul Aziz Al Rajhi
Following his substantial donations, Al Rajhi’s net worth has been adjusted to $590 million.
While this figure represents a significant reduction from his previous billionaire status, it highlights his dedication to giving back to the community and making a lasting positive impact.
