Saleh Abdulaziz Al Rajhi

Jobs
Businessman , Entrepreneur
Date of birth
Jan 1, 1925
Nationality
Saudi Arabian
Place of birth
Saudi Arabia , Al Bukayriyah , Al Qassim province , Saudi Arabia
Constellation
Capricorn

Biography

Sheikh Saleh Abdulaziz Al Rajhi was one of Saudi Arabia’s wealthiest businessmen, notably recognized as the co-founder and significant shareholder of Al Rajhi Bank—one of the foremost Islamic financial institutions globally.

Throughout his lifetime, his visionary approach to commercial activity enabled him to diversify investments across numerous successful industries including banking, agriculture, real estate, and manufacturing.

His considerable wealth, estimated at around $4.4 billion, made him a remarkable figure within the Saudi economy and an influential contributor to various charitable and social initiatives.

Despite immense wealth, Al Rajhi began his early years earning modestly through menial jobs like firewood and scrap-selling to support his family.

Early Life

In the heart of Al Bukayriyah, a small town in Saudi Arabia’s Qassim region, a boy named Saleh Al Rajhi was born in 1923—into a life of struggle, simplicity, and grit.

His childhood was anything but easy. Saleh hustled from a young age, selling firewood and scrap metal, doing whatever it took to help his family survive. But one moment would define the kind of man he was destined to become. At just 13 years old, he came home to find his mother in tears—facing eviction and with no way to pay the rent. Without hesitation, Saleh pawned his most prized possession: his favorite toy, bought a few baskets, and rushed to the local market to carry goods for traders. By the end of the day, he returned with enough money to save his family from losing their home.

That spark of resilience never left him.

At 16, with nothing but determination in his pocket, Saleh moved to Riyadh. There, he began working with relatives in the currency exchange trade, starting from a modest stall near the Grand Mosque. Day by day, deal by deal, he gained experience, trust, and a deep understanding of money—until he opened a shop of his own.

That small shop would become the seed of something historic.

Over time, Saleh Al Rajhi would go on to co-found Al Rajhi Bank, the first and one of the largest Islamic banks in the world—an institution that today stands as a pillar of Saudi Arabia’s financial landscape.

His story is not just about success—it’s about courage, sacrifice, and the belief that no beginning is too small to lead to greatness.

The Personal Life

Saleh Al Rajhi married at age sixteen and had an impressively large family with a total of 61 children, sons and daughters alike. Later in life, significant disputes arose among his descendants—most notably involving his sons Yusuf and Abdullah—over his massive fortune.

Quick Facts

By the time of his death, his estimated net worth reached approximately $4.4 billion.
Famous for his generous annual charity drives, especially distributing dates during Ramadan.
Known for his strong encouragement of education, particularly advocating women’s education and respectful employment opportunities without gender mixing.
Believed firmly in the reward for charity, once stating that he never gave a million in alms without receiving two million back.

Famous Quotes صالح عبد العزيز الراجحي

“Wealth that’s not earned or invested in your country is neither yours nor your children’s.”
“Education is the best path for women. I fully support their participation in employment, provided there is no unnecessary mixing.”
“I swear by God, every million I’ve given in zakat has returned two-fold.”
“Experience outweighs mere academic qualifications; knowledge without experience is fruitless. Ideally, one should combine knowledge and experience alike.”

— صالح عبد العزيز الراجحي

Death

Saleh Al Rajhi passed away following a heart attack on Saturday, February 21, 2011, at Al Habib Hospital in Riyadh, aged 88. His funeral prayers, held the following day at Al Rajhi Mosque in Riyadh, were led by the Grand Mufti of the Kingdom, Sheikh Abdulaziz bin Abdullah Al-Asheikh.

Achievements

Saleh Al Rajhi was not just a banker — he was a visionary entrepreneur whose ventures played a vital role in shaping modern Saudi Arabia’s economy. While he is best known as the founder of one of the world’s largest Islamic banks, his legacy stretches far beyond finance. From agriculture to construction, industry, and real estate, Al Rajhi built a diversified business empire that still thrives today.

Here are some of his most notable achievements:

🏦 Banking & Finance

Founder & Chairman of Al Rajhi Banking Corporation — the first and largest Islamic banking institution in Saudi Arabia.
Founder of Saleh Abdulaziz Al Rajhi Exchange Institution, laying the groundwork for the national banking sector.

🧱 Industry & Manufacturing

Founding Member & Chairman of:

Saudi Cement Company (1955)
National Gypsum Company (1959)
Yamama Cement Company (1961)
Saudi Ceramics Company (1977)
Southern Province Cement Company (1978)

🌾 Agriculture & Food Security

Founder & Chairman of:

National Agricultural Development Company (NADEC) (1981)
Hail Agricultural Development Company (1982)

Board Member & Founder of:

Tabuk Agricultural Development Company

🏗️ Construction Materials