Arab billionaire is afraid of the sin of having lots of wealth, now chooses to live in poverty

Jakarta, CNBC Indonesia – The life of Sulaiman Al Rajhi (95) is an anomaly. While other billionaires want to spend their money by wallowing in wealth, Al Rajhi doesn't. Instead, he wants to live in poverty and donate all his assets to charity.

What's the story?

Sulaiman Al Rajhi is a Saudi Arabian businessman who swallowed the bitter pill of life when he was young. Since he was born, he had faced poverty so he couldn't study and was forced to work at the age of 9 as a porter.

Apart from that, he also worked as a date collector and shopkeeper. Until finally, the turning point in his life occurred when he worked at a money changer. Working at a money changer made him move up in class. From being poor, to becoming rich.

During this expansion, Sulaiman decided to look for new challenges. In 1970, he built his own money changer business which in a short time grew to 30 outlets throughout Saudi Arabia. In fact, it has succeeded in expanding to Egypt and Lebanon.

The large business network made Sulaiman and his brothers form a money changer holding company. Recently, this holding company changed direction and chose to enter the world of banking, especially sharia banking through Al Rajhi Bank.

This is where Solomon's efforts to become rich were successful. Al Rajhi Bank decades later became the largest sharia bank in the world. Practically, this success then made Sulaiman's wealth skyrocket.

In 2011 Forbes His wealth has reached US$ 7.7 billion or Rp. 119 trillion today. With that price, he is in the 100 richest people in the world. Even though he is rich, Sulaiman has a different attitude about lifestyle.

Having hundreds of trillions in assets doesn't make Sulaiman extravagant. He doesn't have a luxury car or private plane. To travel, he always uses economy class planes.

The reason Solomon behaved this way was because he was afraid of sin. He does not want his wealth to be irresponsible before God. So, he always uses his assets for useful activities, including charity activities.

When it comes to charity, Sulaiman is always total. As someone who has been trapped in poverty, he feels that living in poverty is unpleasant. As a result of not wanting other people to feel the same way, he often distributed money to people in need.

Until finally the peak occurred in 2015. He distributed all his wealth to the poor in Saudi Arabia. He also transferred his share ownership in Al Rajhi bank to various charitable institutions.

As a result, all these actions made his wealth disappear and left little for his endowment and children's inheritance. On this basis, Forbes no longer includes his name in the ranks of the world's richest people.

He also said he was poor and claimed he only had one robe. Even so, Sulaiman has no regrets at all.

“All property belongs to Allah, and we are only people who have been entrusted (by Allah) to guard it,” he said.

[Gambas:Video CNBC]

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