Mohamed Al-Fayed is the 1,031st-richest person in the world. His business interests include ownership of Hôtel Ritz Paris and formerly Harrods Department Store. In 2013, Fayed’s wealth was estimated at US$1.4 billion, making him the 2,000th richest man on the planet.
About Mohamed Al-Fayed in brief
Mohamed Al-Fayed is an Egyptian businessman. He is the 1,031st-richest person in the world. His business interests include ownership of Hôtel Ritz Paris and formerly Harrods Department Store. Fayed famously had a son, Dodi, from his first marriage to Samira Khashoggi from 1954 to 1956. Dodi was in a romantic relationship with Diana, Princess of Wales, when they both died in a car crash in Paris in 1997. He later remarried to Finnish socialite and former model Heini Wathén in 1985, with whom he also has four children: Jasmine, Karim, Camilla, and Omar. In 2013, Fayed’s wealth was estimated at US$1.4 billion, making him the 2,000th richest man on the planet. He sold Fulham F. C. to Shahid Khan in 2013. He was born Mohamed Fayed in Roshdy, Alexandria, Egypt, the eldest son of an Egyptian primary school teacher. Although he claims to have been born in 1933, records have showed he was actually born in 1929. He has five siblings: Ali, Ashraf, Salah, Soaad, and Safia. His brothers Ali and Salah have been his business colleagues. He and his brothers founded a shipping company in Egypt before moving its headquarters to Genoa, Italy with offices in London. Around 1964 Fayed entered a close relationship with Haitian leader François Duvalier, known as ‘Papa Doc’ Du Valier, and became interested in the construction of a Fayed-Duvalier oil refinery in Haiti.
He also became a financial adviser to the then Sultan of Brunei Omar Ali Saifuddien III, in 1966. He briefly joined the board of the mining conglomerate Lonrho in 1975 but left after a disagreement. In 1984, he purchased a 30 percent stake in House of Fraser, a group that included the famous London store HarroDS, from Roland ‘Tiny’ Rowland, the head of Lonr Ho. In 1985, he and his sons bought the remaining 70 percent of House of. Fraser for £615m. He re-launched the publication Punch in 1996 but it folded again in 2002. In 1994, he unsuccessfully applied for British citizenship twice – once in 1994 and once in 1999. It was suggested that he was once in a feud with the Metropolitan Police for false arrest in 2002 but he lost the case. In 1998, Rowland died in 1998, and Fayed settled the dispute with a widow to his widow. In 1999, he retained the private ownership of Harrosts, but retained the public ownership of the public version of the store. In 2002, he sold the public public version for £1.2 billion. In 2003, he bought the London football club Fulham for £2.5 billion. He then sold the London club for £3.5 million.
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This page is based on the article Mohamed Al-Fayed published in Wikipedia (as of Dec. 04, 2020) and was automatically summarized using artificial intelligence.
