Billionaire Mohamed Al Fayed dies at 94, 26 years after son Dodi and Princess Diana’s fatal car crash
File photo of Egyptian billionaire Mohamed Al Fayed.
Egyptian-born billionaire businessman Mohamed Al Fayed, who was the owner of the department store Harrods, died at the age of 94 on Friday (September 1), confirmed his family in a statement.
The billionaire businessman breathed his last 26 years after the fatal car crash in Paris took the lives of his eldest son Dodi Fayed and Princess of Wales Diana on 31 August 1997.
ALSO READ |Remembering Princess Diana on her 26th death anniversary
"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," said his family in a statement which was released by the football club Fulham FC, which he once owned.
"He enjoyed a long and fulfilled retirement surrounded by his loved ones. The family have asked for their privacy to be respected at this time,” the statement further read.
"On behalf of everyone at Fulham Football Club, I send my sincere condolences to the family and friends of Mohamed Al Fayed upon the news of his passing at age 94," stated Shahid Khan, who succeeded al-Fayed as owner of the London soccer club.
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Al Fayed's life journey from Paris Ritz Hotel to Fulham Football Club
Al Fayed was born to a schoolteacher in Alexandria. He had started his own shipping business in his homeland before he took the position of adviser to one of the world’s richest men, the Sultan of Brunei, in 1966.
He came to the United Kingdom in the 1970s and became a part of the board of the mining conglomerate Lonrho in 1975. However, he left the board nine months later. In 1979 Al Fayed, along with his brother Ali, purchased the Paris Ritz Hotel.
WATCH | Egypt: Criminal court clears billionaire's name in murder case
Harrods became the next target of the Al Fayeds and in 1985, the brothers were able to clinch the store's takeover in a bid worth £615 million ($774 million) in Knightsbridge. The ownership of the store was retained by him after the Frasers group entered public trading in 2010 when it was sold by him to Qatar Holding. The satirical magazine Punch was also resurrected by the businessman.
The billionaire, in 1997, bought Fulham football club in west London for £6.25 million ($7.87 million) and invited famous singer Michael Jackson to watch a game together at Craven Cottage.
In 1999, Al Fayed gave his nod to club’s manager Kevin Keegan to take the position of team manager of the England national team. The club was sold by Al Fayed to billionaire businessman Shahid Khan in 2013.
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