Mohamed Al Fayed passes away at 94: Know about Fulham FC owner and controversy around his son and Princess Diana
Mohamed Al Fayed, the former owner of London's renowned Harrods department store and the father of Dodi Fayed, who tragically lost his life in a car crash with Princess Diana 26 years ago, has passed away at the age of 94, according to a statement released by his family.
Who was Al Fayed?
Born on January 27, 1929, in Alexandria, Egypt, Mohamed Al Fayed began his business career with interests in shipping, eventually moving to Britain in the 1960s to build a business empire.
Throughout his career, Al Fayed made headlines, most notably during the 1980s when he engaged in a high-profile battle with rival tycoon «Tiny» Rowland for control of the House of Fraser group, which included Harrods.
In 1984, Al Fayed and his brother purchased a 30% stake in the House of Fraser from Rowland, subsequently acquiring control of Harrods for 615 million pounds in 1985. This acquisition led to conflicts with British authorities, as they investigated the transaction and found that the brothers had «dishonestly misrepresented their origins, their wealth, their business interests, and their resources.»
Despite applying for British citizenship, Al Fayed's application was rejected in 1995 and 1998.
Legacy and Wealth
The Sunday Times Rich List estimated the family's fortune at 1.7 billion pounds ($2.1 billion) in the current year, ranking Mohamed Al Fayed as the 104th richest individual in Britain.
The biggest battle in the life of Al Fayed
Al Fayed, a self-made Egyptian businessman who also held ownership of the Fulham Football Club, was profoundly affected by the loss of his son, Dodi Fayed, in a car crash alongside Princess Diana in Paris. This incident, which occurred 26 years ago, left him grief-stricken, and he spent the remainder of his life
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