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Saudi Arabia Report
Marcopolis presents the Saudi Arabia Report focused on the investments, doing business, economy and other topics featuring interviews with key executives. The sectors under review in this issue are industry, real-estate, ICT, investments, banking sector, telecom sector and many more.
Leaders5.5.2015
Suleiman Al Rajhi
Suleiman Al Rajhi was ranked as Marcopolis' #8 most powerful businessman in Saudi Arabia. The Rajhi brothers are multi-billionaires who run the Kingdom’s biggest exchange-dealing business. Al Rahji Bank is the largest Islamic bank in the world, and Sulaiman currently owns the greatest stake. Al Rahji Bank is the largest Islamic bank in the world, and Sulaiman currently owns the largest stake. According to Forbes, he has an estimated net worth of 2.1 billion dollars, and is the sixth richest man in Saudi Arabia, and number 894 worldwide. The Al Rajhi family is considered to be the country’s wealthiest non-royal family by most Saudi Arabians.
Al Rajhi Bank is consistently reported as the most profitable operation amongst all other Saudi banking groups. Along with the bank includes a company he owns called Al-Watania, which is the largest chicken processor in the Middle East. Furthermore, Sulaiman and his brothers have ties and investments in the agriculture, steel, gypsum, and other industrial sectors.
Aside from being one of the leading business tycoons in the Kingdom, Sulaiman is known for his philanthropic endeavors. In 2012, he received the King Faisal International Prize for donating half his fortune, supporting charities, and implementing successful national projects. Much of his fortune went to funding anti-hunger efforts and education in Saudi Arabia. Sulaiman is involved in many foundations and charities. He also established the non-profit Sulaiman Al Rajhi University, which mainly focuses on health and Islamic banking.
On a personal note, the Saudi Arabian corporate figure and billionaire is married. The other half of his fortune was distributed amongst his 23 children. Sulaiman considers himself a penniless man after transferring all his assets to charity and among his children. Although he claims to own only his clothes, Sulaiman still holds shares in his companies, and is still one of the world’s wealthiest men.
Al Rajhi Family
The Rajhi brothers come from the village of Bukairiyah, Buraidah in Nejd. The four brothers -- Salih, Abdullah, Suliman and Mohammad bin AbdelAziz – are owners of the conglomerate. Rajhi brothers started as money-changers in Riyadh souk. Today, Rajhi family is one of the riches families in Saudi Arabia.
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