Egyptian tycoon Mohamed Al-Fayed, best known for his transformative ownership of Harrods and Fulham Football Club, has passed away at the age of 94. The news of his peaceful passing due to old age was confirmed by his family in a statement released by Fulham FC.
Al-Fayed arrived in the UK in the 1970s and quickly made a name for himself by acquiring extravagant establishments and even owning the prestigious Ritz Hotel in Paris. However, he gained notoriety for more than just his business ventures.
The Egyptian tycoon became a controversial figure when he fought for British citizenship and following the tragic deaths of Princess Diana and his son, Dodi Fayed. Despite official inquiries finding no evidence of foul play, Al-Fayed insisted that the pair were murdered. This belief led to a tumultuous relationship with the British royal family.
With a net worth of approximately $1.8 billion in 2021, Al-Fayed had interests in various businesses, including Punch Magazine, Kurt Geiger, and luxury apartments in London. However, his most significant acquisition was undoubtedly Harrods. In 1985, he purchased the iconic department store in a deal worth $842 million, comparing it to one of the ancient wonders.
Throughout his ownership of Harrods and his involvement in the British establishment, Al-Fayed had a strained relationship with the country’s elite. He publicly fought for citizenship and became embroiled in a political scandal in 1994, further alienating himself from the British establishment.
Despite the controversies surrounding him, Al-Fayed’s financial investments in Fulham Football Club are still praised by fans. He took the club from lower leagues to the Premier League and even led them to a major European final. To this day, his name is sung by passionate supporters during matches.
Family was also important to Al-Fayed. He had six children, including Dodi Fayed, who tragically lost his life alongside Princess Diana in the car accident in Paris. Another one of his children, Omar Fayed, is an environmentalist entrepreneur.
Al-Fayed’s ownership of Harrods came to an end in 2010 when he sold the store to the Qatari royal family for a reported $2.25 billion. Despite the controversies and criticism he faced throughout his life, his legacy in the business and sports worlds cannot be denied. Mohamed Al-Fayed leaves behind a rich and complex legacy that will be remembered by many.
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