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Saudi Billionaire Loses Billionaire Status After Historic Charity Donation
Sulaiman bin Abdul Aziz Al Rajhi, co-founder of Al Rajhi Bank and one of Saudi Arabia’s most prominent businessmen, has made a significant philanthropic gesture by donating the majority of his wealth to charitable causes.
The 95-year-old entrepreneur, who was once a billionaire, now has a net worth of $590 million
He generously divided his fortune, giving half to his children and the other half to various charitable organizations.Al Rajhi’s philanthropy is channeled through the Sulaiman Bin Abdul Aziz Al Rajhi Charitable Foundation, which he established to support a wide range of causes. His donation totaled to around 221 million SAR! The foundation focuses on education, religion, healthcare, and social issues, aiming to make a positive impact on society. His commitment to giving back has made him a respected figure in the philanthropic community, and his contributions continue to benefit countless individuals and organizations.
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