Sulaiman Al Rajhi’s story starts from a struggle as he began from scratch and crossed every step with his hard work. Now many young entrepreneurs are learning from him and taking his example.
He started his first job for SR 6/month
At the age of 12, he started collecting palm dates as his job, which paid him just six Saudi Riyals per month. He used to sleep on hard surfaces in the same workplace and wore the same dresses daily during his hard work.
He also worked as a cook in a hotel in Riyadh. He also worked as a wholesale seller of imported kerosene.
He served as a waiter at one of the Saudi contracting companies, which paid him just SR 60/month. He then started his grocery shop. To afford all his marriage expenses, Al Rajhi sold his shop.
He started his own business in 1970
He worked later for his brother, Saleh Al- Rajhi. In 1970, the real breakthrough came when he separated his business from his brother’s and opened his own currency exchange company.
He started his career and introduced himself as a young entrepreneur in the market at a time when formulating new businesses in the Arabian Gulf region was considered a complicated task.
Later, he expanded his currency exchange business, spreading to more than 30 branches across Saudi Arabia. He extended his trade to various countries across the Arab world, which included Egypt and Lebanon.
He is now the founder of Al Rajhi Bank and is counted among the world’s wealthiest men. According to Forbes, an American business magazine, Sulaiman Al Rajhi’s worth was $7 billion in 2011 after donating $16 billion.
He possesses a generous heart
Once, an interviewer asked him, “So you gave half your wealth to your family and the half to your endowment. What have you kept for your expenses? A house? A farm? A salary?”
I wondered. “Simply, nothing!” he answered with a beautiful, calm, and calming smile. “I am in my eighties! What would I possibly need? The endowment pays my bills and provides me with accommodation, food, medical, and transportation, which I try to keep at a minimum. I am well covered!”
What is the secret behind his success?
He disclosed his secret to success by saying that he always used to save every hard-earned penny for the next day, which enabled him to pick a starting point and build his fantastic future.
Source: The Forbes