Mohamed Al Fayed Net Worth

Mohamed Al-Fayed Net Worth: $2 Billion

Summary Table

Introduction

Mohamed Al-Fayed was an Egyptian business magnate and philanthropist who had a net worth of $2 billion at the time of his death in 2023. He was known for owning the Ritz Paris, Harrods department store, and Fulham F.C. His son, Dodi Al-Fayed, was famously involved with Princess Diana and died alongside her in a car crash in 1997.

What was Mohamed Al-Fayed’s Net Worth?

Mohamed Al-Fayed had a net worth of $2 billion at the time of his death. His wealth came from various business interests, including ownership of Harrods, the Ritz Paris, and Fulham F.C.

Early Life

Mohamed Al-Fayed was born on January 27, 1929, in Alexandria, Egypt. He had two brothers, Ali and Salah. Fayed began his business career by co-founding a shipping company in Egypt with his brothers. The company eventually moved its headquarters to Genoa, Italy.

Career Beginnings

Fayed initially partnered with Haitian president François Duvalier to build an oil refinery in Haiti, but the partnership did not last. In the mid-60s, Fayed moved to England and partnered with Dubai ruler Sheikh Rashid bin Saeed Al Maktoum to modernize Dubai. He established International Marine Services and introduced British construction companies to the UAE.

House of Fraser

In 1984, Fayed and his brothers acquired a 30% stake in House of Fraser, which included Harrods. They bought the remaining 70% in 1985, making Fayed the owner of Harrods. He retained ownership until 2010 when he sold Harrods to Qatar Holdings for £1.5 billion ($2.4 billion).

Fulham F.C.

Fayed purchased Fulham F.C. in 1997 for £6.25 million. Under his ownership, Fulham rose to the Premier League and reached the final of the 2009-10 UEFA Europa League. He sold the club to Shahid Khan in 2013.

Real Estate in Scotland

In 1972, Fayed purchased the Balnagown Estate in Easter Ross, Scotland. He invested over £20 million to expand the property from 12 acres to 65,000 acres and restored the 14th-century Balnagown Castle, establishing a tourist accommodation business.

Cash-for-Questions Affair

In 1994, Fayed was involved in the cash-for-questions affair, where lobbyist Ian Greer was accused of bribing Conservative MPs to ask parliamentary questions on Fayed’s behalf. The scandal led to the creation of the Committee on Standards in Public Life.

Charity

Fayed established the Al-Fayed Charitable Foundation in 1987 to support disabled, neglected, and impoverished children. The Foundation works with charities like Great Ormond Street Hospital and ChildLine. He also purchased Princess Diana’s old boarding school and established the New School at West Heath for children in need.

Dodi and Princess Diana

Fayed’s son, Dodi, began dating Princess Diana in 1996. Both were killed in a car crash in Paris in 1997. Fayed believed the crash was a conspiracy orchestrated by MI6 and accused members of the royal family, but his theories were debunked.

Sexual Assault Allegations

Fayed faced multiple allegations of sexual assault. He reportedly subjected prospective Harrods employees to inappropriate exams and harassed store secretaries.

Marriages and Children

Fayed was married to Saudi Arabian author Samira Khashoggi from 1954 to 1956, and they had a son, Dodi. In 1985, he married Finnish socialite Heini Wathén, with whom he had four children: Jasmine, Karim, Camilla, and Omar. Omar is an environmentalist and publisher, serving as CEO of EarthX and Earth Space Technical Ecosystem Enterprises.

Mohamed Al-Fayed’s legacy as a business magnate and philanthropist is marked by his significant contributions to the retail and hospitality industries, as well as his charitable efforts. His life was also intertwined with notable controversies and personal tragedies.