The World Richest Arabs 2014
Thu 04 Dec 2014 12:28 PM
The Al Rajhi family
20

The Al Rajhi family

Industry: Diversified

Country: Saudi Arabia

Wealth: 5 Billion

Sulaiman Al Rajhi may have fulfilled the vow he made three years ago to donate the vast proportion of his family wealth to charity, but there’s still plenty in the pot left for his family. His brothers Abdullah, Mohammed and the late Saleh, were the founders of Al Rajhi Bank, the second-biggest bank in Saudi Arabia, which now has assets worth a colossal $73bn. The bank’s origins date back to the 1940s, when it began operating as a money changer in the kingdom. Today, its operations include retail, corporate and investment banking. With an established base in Riyadh, Al Rajhi Bank has a network of over 550 branches, over 100 dedicated ladies branches and more than 2,600 ATMs. As well as the controlling stakes in Al Rajhi Bank, the family also has interests in the Al Baraka Banking Group, as well as Yanbu Cement and NADEC.