The inspiring story of Saudi billionaire Sulaiman Al Rajhi is one of perseverance and hard work. Starting from humble beginnings, he began collecting palm dates at the age of 12 for just six Saudi Riyals per month. He slept on hard surfaces and wore the same clothes daily while working tirelessly.
Despite these challenges, he continued to work his way up the ladder, taking on various jobs such as a cook and wholesale seller of imported kerosene. He even served as a waiter for a contracting company earning a meager 60 Saudi Riyals per month before starting his own grocery shop. He sold the shop and spent all his savings to afford his marriage expenses and later worked for his brother before striking out on his own.
In 1970, he opened his own currency exchange company, which marked the turning point in his career as a young entrepreneur. Despite the difficulties of starting a new business in the Arabian Gulf region, he persevered and expanded his currency exchange business to over 30 branches across Saudi Arabia and other countries in the Arab world such as Egypt and Lebanon.
Today, he is the founder of Al Rajhi Bank and is counted among the world’s wealthiest individuals with a net worth of $7 billion according to Forbes in 2011. When asked about his wealth, he humbly stated that he gave half to his family and the other half to his endowment, and he kept nothing for his personal expenses. He attributed his success to his habit of saving every hard-earned penny for the future, which helped him build an amazing future from a humble beginning.
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