during the Barclays Premier League match between Fulham and Wolverhampton Wanderers at Craven Cottage on April 17, 2010 in London, England.
BreakingHighlightTop StoryWorld News

Mohamed Al-Fayed, the businessman who owned Harrods dies aged 94

1.3k

The Egyptian born billionaire Mohamed Al-Fayed has died in London at 94, his family announced on Friday

Al Fayed was at one time among the most high-profile businessmen in Britain. Aside from previously owning Fulham FC, he also was the former owner of luxury department store Harrods and the Paris Ritz.

He was the father of Dodi Fayed, who died with Princess Diana in a Paris car crash in 1997. He spent the rest of his life mourning the loss.

Mr Al-Fayed was born in Alexandria in Egypt and moved to London in the 1960s where he set about building his empire.

As a boy, he regularly skipped school to do odd jobs, selling soft drinks in the streets or sewing machines door-to-door.

He began investing in UK companies after relocating a shipping company he had founded with his brothers from Egypt to Europe.

With his two brothers, Mr Al-Fayed fended off rival investor Roland Walter “Tiny” Rowland in 1985 to land the winning bid for London department store Harrods for £615 million ($669 million at the time).

Mr Rowland later complained that the Al-Fayeds had misrepresented their wealth and background to secure the deal, achieved through a takeover of Harrods’ parent company, House of Fraser.

The eldest son of a teacher, he grew up in the city, where his commercial enterprise shone even in his school days as he turned his hand to selling home-made lemonade. He married Khashoggi in 1954 and was employed in a trading company managed by her brother Adnan, a successful businessman and at one point the world’s wealthiest arms dealer. Al-Fayed then set up a shipping firm in Egypt with his brothers and spent time in Genoa and London expanding the venture.

As owner of Fulham FC from 1997 to 2013, he was credited with turning around the football club’s fortunes. He also owned tens of thousands of acres of land in the Scottish Highlands.

Later, he would become known for bitter clashes with Britain’s royal family after the death of Princess Diana and his son.

Mr Al-Fayed was convinced that Dodi and Princess Diana had been killed in a conspiracy by a royal family that could not countenance the divorced princess marrying a Muslim.

Leave a comment

Related Articles

NSSF targets training of 1 million youths on healthcare advocacy by 2029.

By 2029, the Nigerian Solidarity Support Fund (NSSF) says it is set...

Gunmen allegedly attack Shaibu, Sen. Okpebholo’s convoy in Benin, orderly killed

Gunmen have reportedly attacked the convoy of the All Progressives Congress candidate...

Updated: Tinubu approves N70,000 minimum wage, labour leaders laud president’s ‘fatherly gesture’

President Bola Tinubu’s approval of a new national minimum wage of N70,000,...

Just in: Tinubu to ministers: Pay off varsities staff members’ 4-month salary arrears

President Bola Tinubu has directed the Minister of Finance, Mr. Wale Edun,...

Russian war: King Charles III says UK govt will give full support to Ukraine, wants it to join NATO

Shine Alagba King Charles III said the UK government would continue to...

Breaking: Pres.Tinubu approves N70,000 minimum wage

President Bola Tinubu has approved N70,000 as the new minimum wage for...

Food inflation: Reps pledge N648m, being 50% of six-month salaries, to provide succour for the poor

The House of Representatives unanimously agreed to sacrifice 50 percent of their...

Updated: FG backtracks, postpones minimum admission age for varsities, others until 2025

Prof. Tahir Mamman, the Minister of Education, backtracked on the decision to...

Stakeholders reject proposal to raise university, polytechnic admission age to 18 years

Participants at the 2024 Joint Admissions Matriculation Board’s (JAMB) policy meeting on...

Breaking: FG sets 18 years as minimum admission age into tertiary institutions

The Federal Government has fixed the minimum age for entry into universities...

FG set introduce new curriculum for secondary schools nationwide

The Minister of Education, Prof. Tahir Mamman, announced on Thursday plans to...

Climate change strikes close to home: Lagos Govt warns of looming floods

The Lagos State Government has issued a warning to residents of impending...

Again, octagenarian US Pres. Biden tests positive for COVID-19

US President Joe Biden has tested positive for the dreaded COVID-19 again....

Police block SSANU, NASU protests in Abuja over unpaid four-month salaries

The Federal Capital Territory (FCT) Command of the Nigeria Police on Thursday...

Building collapse: Nigeria reports 22 incidents, 33 fatalities in 7 months – COREN

The Council for the Regulation of Engineering in Nigeria (COREN) has reported...

Updated: Tinubu launches Education Loan Fund, hopeful initiative will curb terrorism, banditry

In fulfillment of one of his campaign promises, President Bola Tinubu on...

Pres. Tinubu appoints Mrs. Didi Walson-Jack as new Head of Service

President Bola Tinubu has approved the appointment of Mrs. Didi Esther Walson-Jack,...

Reps pass NDDC’s budget of N1.91trn

The House of Representatives on Wednesday approved the Niger Delta Development Commission’s...

Court refuses stay of proceeding in Yahaya Bello’s case, fixes Sept. 25 for arraignment

Justice Emeka Nwite of the Federal High Court in Abuja has adjourned...

Breaking: Yahaya Bello: Judge walks out of court as two SANs clash

A heated argument between two senior lawyers on Wednesday disrupted the court...