05/14/2026
Saudi billionaire Sulaiman bin Abdulaziz Al Rajhi once ranked among the richest men in the world, gave away nearly all of his fortune and in doing so lost his billionaire status. According to Forbes, his wealth was estimated at $7.7 billion in 2011, but he later donated more than $16 billion to charities, Islamic endowments, and his family.
According to Saudipedia, Al Rajhi directed two‑thirds of his fortune into a waqf, an Islamic charitable trust, funding education, healthcare, food security, and poverty eradication. He also established Sulaiman Al Rajhi University, hospitals, and medical research centers. The remaining third of his wealth was divided among his 23 children.
His decision was unusual because most billionaires pledge donations after death or spread them out over decades. Al Rajhi chose to give away nearly everything during his lifetime, living modestly afterward with simple furniture and no luxury. His personal fortune dropped to about $590 million, meaning he no longer qualified as a billionaire.
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