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Saleh Al RajhiBillionaire, founder and owner of Al Rajhi Bank
Country:
 Saudi Arabia |
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Saleh Al Rajhi: The Billionaire Behind Al Rajhi Bank
Saleh Al Rajhi is a billionaire from Saudi Arabia and the founder and owner of the second-largest company, Al Rajhi Bank. The organization has conducted numerous profitable operations compared to other banks in Saudi Arabia. Saleh's fortune is estimated to be around seven billion dollars, earning him a well-deserved place on Forbes' list of the world's wealthiest individuals.
A Philanthropic Family
Besides his financial success, Saleh Al Rajhi is also recognized by Forbes as the most prolific father among the world's billionaires. In the 1930s, Saleh and his younger brother Suleiman established a firm that provided financial support to pilgrims traveling to Islamic cities. Eventually, their other two brothers, Abdullah and Mohammed, joined their activities. From that point on, the Al Rajhi company expanded into various sectors such as real estate, trade, construction, and manufacturing. Nevertheless, banking and finance remain their primary sources of income to this day.
Today, the Al Rajhi family is considered the richest dynasty in Saudi Arabia, excluding members of the royal family. They are also well-known for their philanthropic efforts. Saleh Al Rajhi has stepped back from his business ventures and handed over the reins to his children and grandchildren, who now manage this global organization. Despite his advanced age, Saleh continues to care for the well-being of his family. Recently, he secured the second position among the shareholders of the family banking company, Al Rajhi Bank.
Continued Ventures
The Al Rajhi family actively collaborates with Tameer Holdings, a construction company, to build a grand skyscraper in Dubai. The planned height of the building is 91 floors, with an estimated cost of 270 million dollars. Additionally, the company has made significant investments in Zain, a Saudi mobile telecommunications organization. Al Rajhi Bank will operate its own business under the "Zain" brand, offering mobile communication services in the kingdom, in accordance with the terms of the license.
