Sulaiman Al Rajhi & family

✎ About Sulaiman Al Rajhi & family

Birth Year: 1929

Residence: Jeddah, Saudi Arabia

Occupation: Chairman of National Agricultural Development Company (NADEC)

Awards: King Faisal International Prize

Sulaiman Al Rajhi & family

Sulaiman Al Rajhi & family was born on 1929 in Saudi Arabia. Sulaiman Al Rajhi transferred his nearly 20% stake in Al Rajhi Bank two years ago to a charitable endowment that bears his name. The move follows an announcement he made in 2011 to donate the bulk of his fortune to charity, funding anti-hunger efforts and education in Saudi Arabia. The endowment is also the recipient of his stake in his paper and plastics company, as well as shares in the family's investment firm, which has agricultural projects in Africa and Eastern Europe. Al Rajhi has retained other assets worth more than $1 billion, including Al Watania Poultry, one of the biggest poultry farms in the Gulf.
Sulaiman Al Rajhi & family is a member of Finance

Some Sulaiman Al Rajhi & family images

Biography/Timeline

2011

In May 2011, he announced he was donating most of his $7.7 billion fortune to charity.

2012

He received the 2012 King Faisal International Prize for dedicating half his fortune to charity, starting an Islamic bank, supporting charity work and implementing effective national projects.

2019

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.