Noted Egyptian businessman Mohamed Al Fayed passes away at 94

Noted Egyptian businessman Mohamed Al Fayed passes away at 94

QLNews
By QLNews

Mohamed Al Fayed, the outspoken Egyptian tycoon who turned around the fortunes of two iconic London institutions — Harrods department store and Fulham Football Club — has passed away, according to a statement from his family.

The 94-year-old had also been known for waging a war of words with the British royal family following the death of his son Dodi in a car accident alongside Diana, Princess of Wales, in 1997.

“Mrs Mohamed Al Fayed, her children and grandchildren wish to confirm that her beloved husband, their father and their grandfather, Mohamed, has passed away peacefully of old age on Wednesday, August 30, 2023,” read the family statement, which was released by Fulham FC on Friday.

After starting as a soda drinks seller in Egypt, he became a sewing machine salesman and later made a mark in real estate. He proved his mettle in the Middle East’s shipping and construction sectors before moving to the UK in the 1970s.

Al Fayed then bought a number of lavish businesses and forced his way into London’s high society. He also owned the legendary Ritz Hotel in Paris for four decades.

He became a controversial figure after publicly fighting for British citizenship and later after the death of his son. The self-made Egyptian billionaire’s death came just a day before the 26th anniversary of the accident.

He purchased Harrods in 1985 but had to fight many a bitter court battles for its ownership. Al Fayed ended his 25-year ownership of Harrods in 2010 after selling the store to Qatar’s royal family for a reported $2.3bn.

Fulham FC expressed its profound sadness at the passing of its former owner.

“The story of Fulham cannot be told without a chapter on the positive impact of Mr Al Fayed as Chairman. His legacy will be remembered for our promotion to the Premier League, a Europa League Final, and moments of magic by players and teams alike,” Shahid Khan, who succeeded Al Fayed as the club’s owner, said.

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