Trendybeatz Logo




DJ Mix






Meet The Arab Man Who Donated $19 Billion To Charity

Sheikh Sulaiman bin Abdulaziz Al Rajhi4.jpg
Nov 28

Meet The Arab Man Who Donated $19 Billion To Charity

Sheikh Sulaiman bin Abdulaziz Al Rajhi is a Saudi Arabian corporate figure and billionaire.

He worked as a porter, cleaner, cook and office boy before co-founding what is today one of the world's largest Islamic banks with his brothers (Abdullah, Saleh and Mohammed) in 1945. As of 2011, his wealth was estimated by Forbes to be $5.9 billion, making him the 169th richest person in the world.

He is well known for his philanthropic activities after donating his 19.7 per cent stake in Al Rajhi Bank, worth nearly $5.5bn, to an endowment dedicated to charitable causes in 2013. Those deeds and the transfer of stakes in his paper, plastic and family investment firms saw him named in a list of the world's top philanthropists by wealth consultancy firm; "Wealth-X" in 2015.
Sheikh Sulaiman bin Abdulaziz Al Rajhi3.jpg
He also donated $16 billion (60 billion riyals) as Waqf throughout his lifetime. An amount that is considered one of the largest endowments made in the Islamic world and which no one has surpassed.
Sheikh Sulaiman bin Abdulaziz Al Rajhi1.png
Some of the donations he made included:

1. He dedicated his bank shares (worth $3.7 billion, his poultry farm and other assets to a charitable endowment that funds anti-hunger efforts and education in the kingdom.

2. He established the Sulaiman Al Rajhi University, a non-profit university that focuses mainly on health and Islamic banking.

3. He also gave away two-thirds of his entire wealth to charity in the form of (WAQF)–an Islamic endowment- and the remaining one-third to his family.

"WAQF" - refers to the donation of valuable goods including money, buildings, land or other assets to the public – with no intention of reclaiming them back.

He has also won numerous awards for his notable contributions, which included;

* In 2012, he received the King Faisal International Prize for dedicating half his fortune to charity as well as starting an Islamic bank that supports charity work and implements essential national projects.

* Rajhi was once awarded the Lifetime achievement award for his founding of Islamic Charitable Organisations and Al-Rajhi Bank at a Global Islamic Economy Summit in Dubai.
What do you think about this Arab Philanthropist, Sheikh Sulaiman bin Abdulaziz Al Rajhi?

SOURCE: TrendyBeatz

Did You Enjoy Reading This Article?

Share this post on

Other Related Post👇

Read More Music News

Post a Comment

Comments (0)


Download Latest "Naija Music"

Download Latest "Ghana Music"

Download Latest "African Music"

Download "Top 10 Songs Of The Week"

Download "Top 10 Songs Of Today"

Download "Music Albums/EP"

Promote Your Music (For Artistes Only)

Advertise On TrendyBeatz

Trending Artistes

Top Artistes

Popular Albums

Song of the Day

Music News

Trending DJ Mix

OUR Social Media

TrendyBeatz Official Facebook Page

TrendyBeatz Official Instagram Page

TrendyBeatz Official Twitter Page

TrendyBeatz Official Tiktok Page

TrendyBeatz Official WhatsApp (Business)