Saudi businessman Sheikh Sulaiman bin Abdul Aziz Al Rajhi, co-founder of Al Rajhi Bank, made a remarkable decision with his fortune.
In May 2011, Al Rajhi announced that he was transferring much of his multi-billion-dollar wealth. His fortune was divided into three parts: two-thirds went into a permanent charitable endowment, while the remaining one-third was given to his children as inheritance.
The charitable endowment became the Sulaiman Bin Abdul Aziz Al Rajhi Charitable Foundation, supporting causes connected to areas such as education, healthcare and humanitarian work.
Because Al Rajhi transferred major holdings in equity, real estate and businesses into the endowment and to his children, his personal wealth fell below the level required to appear on major global billionaire lists.
His decision was shaped by a life that began with very little. As a child, Al Rajhi reportedly worked as a porter and a cook's assistant before eventually building one of Saudi Arabia's major financial institutions.
Rather than focusing only on accumulating wealth, he said he wanted his fortune to continue helping people and supporting meaningful causes.
His story is also sometimes confused with that of Chuck Feeney, who gave away his entire fortune through The Atlantic Philanthropies.
Al Rajhi's journey offers a powerful reminder that wealth can be measured not only by what someone owns, but also by what they choose to give back.
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