Mohamed Al-Fayed, Egyptian-Swiss businessman

Mohamed Al-Fayed, whose original name was Mohamed Fayed and who is known in Egyptian Arabic as محمد الفايد [mæˈħæmmæd elˈfæːjed], is an influential Egyptian-born businessman. Born on January 27, 1929, his primary residence and the focal point of his extensive business interests have been located in the United Kingdom since the late 1960s. Al-Fayed's career is marked by a distinctive blend of entrepreneurship, luxury retail, and high-profile ownerships, establishing him as a prominent figure on the global stage.

A Diverse Business Empire Spanning Decades

Al-Fayed's business acumen led him to acquire and manage a portfolio of world-renowned assets, primarily concentrated in luxury hospitality, retail, and sports. His ownership periods for these entities often sparked significant public and media attention.

• Hôtel Ritz Paris: Acquired by Al-Fayed in 1979, the iconic Hôtel Ritz Paris, nestled in the Place Vendôme, remains a crown jewel in his family's holdings. This prestigious luxury hotel has undergone extensive renovations under his stewardship, solidifying its reputation as one of the world's most opulent and exclusive establishments.
• Harrods Department Store: Perhaps his most famous acquisition, Al-Fayed took ownership of the prestigious Harrods department store in London in 1985 for an estimated £615 million. This acquisition, part of a highly publicized takeover battle for the House of Fraser group, transformed Harrods into a global shopping destination under his eccentric and innovative leadership. He implemented significant changes, including expanding its product lines and enhancing its luxury appeal, before selling it to Qatar Holdings in 2010 for approximately £1.5 billion.
• Fulham F.C.: Demonstrating his diverse interests, Al-Fayed purchased Fulham Football Club, a London-based professional football team, in 1997. During his tenure, he invested heavily in the club, famously bringing in renowned players and managers, and significantly contributed to their promotion to the Premier League. He remained the owner until 2013 when he sold the club to American businessman Shahid Khan.

Personal Life and Public Profile

Beyond his formidable business achievements, Mohamed Al-Fayed's personal life has frequently drawn considerable public interest, particularly in connection with his family. His first marriage was to Samira Khashoggi, sister of the Saudi arms dealer Adnan Khashoggi, which lasted from 1954 to 1956. From this union, their son, Dodi Fayed, became a central figure in a global tragedy.

Dodi Fayed was famously in a romantic relationship with Diana, Princess of Wales, when both tragically died in a car crash in Paris on August 31, 1997. This devastating event led Mohamed Al-Fayed to embark on a long and public campaign to uncover the truth behind their deaths, often asserting allegations of conspiracy, which were largely dismissed by official inquests in both France and the UK.

In 1985, Mohamed Al-Fayed married his second wife, Heini Wathén, a Finnish socialite and former model. Together, they have four children: Jasmine, Karim, Camilla, and Omar, who have largely pursued their own ventures, including involvement in family businesses and other entrepreneurial activities.

Financial Standing and Legacy

Mohamed Al-Fayed's extensive business ventures have resulted in substantial wealth. As of 2013, his net worth was estimated by Forbes to be US$1.4 billion, placing him at number 1,031 among the world's billionaires. His financial success stems from his shrewd investments and management across various sectors, including real estate, luxury retail, and hospitality.

Throughout his career, Al-Fayed has been a figure of both admiration and controversy, known for his outspoken nature and his relentless pursuit of his business and personal objectives. His legacy is indelibly tied to the iconic brands he shaped and the public events that profoundly impacted his family.

Frequently Asked Questions About Mohamed Al-Fayed

What is Mohamed Al-Fayed primarily known for?

Mohamed Al-Fayed is an Egyptian-born businessman primarily known for his ownership of the luxurious Hôtel Ritz Paris and his former ownership of the iconic Harrods department store in London, as well as Fulham F.C. He is also widely recognized as the father of Dodi Fayed, who died in a car crash with Diana, Princess of Wales.

When did Mohamed Al-Fayed own Harrods?

Mohamed Al-Fayed owned Harrods from 1985, when he acquired it as part of a controversial takeover of the House of Fraser group, until 2010, when he sold the department store to Qatar Holdings.

What happened to Dodi Fayed?

Dodi Fayed, Mohamed Al-Fayed's son from his first marriage, died in a car crash in Paris on August 31, 1997, alongside Diana, Princess of Wales. The incident was extensively investigated by French and British authorities, concluding it was a tragic accident.

What was Mohamed Al-Fayed's estimated net worth?

In 2013, Forbes estimated Mohamed Al-Fayed's net worth to be approximately US$1.4 billion, ranking him among the world's billionaires at that time.