Controversial Egyptian tycoon Mohamed Al-Fayed, known for his ownership of London’s Harrods department store and Fulham Football Club, has passed away at the age of 94, according to a statement from his family. His wife and children released a statement confirming his peaceful passing on August 30, 2023, due to old age. Al-Fayed, who arrived in the UK in the 1970s, quickly made a name for himself by purchasing several luxurious establishments, including the Ritz Hotel in Paris. However, he gained notoriety for his public fight for British citizenship and his ongoing belief that his son, Dodi Fayed, and Princess Diana were murdered despite inquiries suggesting otherwise.
Born in Alexandria, Egypt in 1929, Al-Fayed capitalized on entrepreneurial opportunities during his short-lived marriage to Samira Khashoggi, sister of billionaire arms dealer Adnan Khashoggi. After establishing his own shipping company, he moved to London and built an expansive real estate portfolio that focused on luxury destinations. In 2021, Forbes estimated his net worth to be around $1.8 billion. Al-Fayed’s business interests included Punch Magazine, Kurt Geiger, the Manhattan skyscraper 75 Rockefeller Plaza, and the Hyde Park Residence block of luxury apartments in London. However, his most significant acquisition was the renowned Harrods department store, which he purchased in a $842 million deal after a highly publicized battle with tycoon Roland “Tiny” Rowland.
Throughout his career, Al-Fayed was as famous for his contentious relationship with the British establishment as he was for his investment ventures. He fought for British citizenship for many years, faced questions about the source of his income, and caused a political scandal in 1994 when he named British lawmakers who had accepted money from him. After the untimely deaths of his son and Princess Diana in a car crash in 1997, Al-Fayed openly criticized the British royal family and became ostracized from parts of the country’s elite. He persistently sought evidence to challenge the official conclusions surrounding the car crash, vowing to discover the truth until his death.
Al-Fayed eventually sold Harrods to the Qatari royal family in 2010 for a reported $2.25 billion. He also made a significant impact in the world of football, purchasing Fulham Football Club when they were in England’s lower leagues. His financial investments helped the club rise to the Premier League and reach a major European final. Despite selling the club over ten years ago, Al-Fayed’s name continues to be sung by Fulham fans during matches.
Mohamed Al-Fayed leaves behind six children, including Dodi and environmentalist entrepreneur Omar Fayed. His legacy includes transforming London’s luxury retail and football landscapes while simultaneously remaining a controversial figure, known for his outspoken nature and ongoing pursuit of truth and justice.