95-yr-old Saudi Billionaire Fulfils Promise, Donates $16bn of His Wealth To Charity

Last May, Sulaiman Al Rajhi, once one of the richest men in the world is no longer a billionaire, announced that he will donates much of his $6 billion fortune to charity.
Now 95, the Saudi banking mogul has now fulfilled that promise when he stunned the world by giving away almost $16 billion of his fortune, making it one of the largest individual charitable donations in history.
Al Rajhi didn’t just donate cash — he gave away shares in Al Rajhi Bank, one of the most profitable Islamic banks in the world, along with real estate, businesses, poultry farms, and more.
Two-thirds of his wealth was placed into waqf (Islamic endowment) to support long-term causes like education, healthcare, food security, and religion, while the rest was given to his children. Among his many initiatives is the Sulaiman Al Rajhi University, a nonprofit focused on health and Islamic finance.
He’s no longer on the Forbes list, but he’s now on a more meaningful list — of people who chose humanity over personal wealth. His reason? “Everything I gave, I gave for God.” He built his fortune from nothing — born into poverty, he worked as a porter and courier before becoming a self-made billionaire. And now, he’s chosen to give back every bit of it.
Sulaiman Al Rajhi’s story is not just about charity — it’s about redefining success, breaking the cycle of greed, and using wealth as a tool to uplift others. In a world where most billionaires die with fortunes untouched, he chose a different path: give while you live.
Saudi Arabia’s Sheikh Suleiman Al Rajhi, one of the world’s richest men, can now also lay claim to be one of the most generous.
It is not known whether the Al Rajhi had always planned to give away his fortune but the recent events in the middle- east may have played a role in his decision.