Mohamed Al-Fayed, a well-known Egyptian businessman, passed away in the United Kingdom on Friday at the age of 94. He had a remarkable career in commerce and finance.
The London Central Mosque & Islamic Cultural Centre (Regent’s Park Mosque) held a sorrowful funeral service following Friday prayers.
The sad news of Fayed’s passing was announced on Ashraf Haidar, the businessman’s son-in-law, Facebook page.
Cause of death
He died due to age related ailments.
He was 94 at the time of his death.
As of 2023, Fayed’s wealth was estimated at US$2 billion, ranking his wealth at no. 1,493 in the world.
Mohamed Al Fayed is a former Egyptian billionaire businessman who gained international recognition, in part, due to his ownership of Fulham Football Club, a professional football club based in London, England. Al Fayed’s association with Fulham FC began in 1997 when he purchased the club, then in the lower divisions of English football.
Under Al Fayed’s ownership, Fulham underwent significant transformation and investment. He poured considerable financial resources into the club, which led to its rise through the English football leagues. One of the most notable achievements during his ownership was Fulham’s promotion to the English Premier League (EPL) in 2001, marking their return to the top flight of English football after an absence of over 30 years.
To further solidify Fulham’s position in the Premier League, Al Fayed continued to invest in the club, signing high-profile players and hiring experienced managers. The club achieved relative success during this period, maintaining its status as a Premier League team and even reaching the UEFA Europa League final in 2010, under the management of Roy Hodgson.
During his tenure, Al Fayed also gained attention for his eccentricities and for adding unique features to Fulham’s Craven Cottage stadium, such as the installation of a statue of Michael Jackson, with whom Al Fayed had a personal connection.
In 2013, Mohamed Al Fayed sold Fulham FC to American businessman Shahid Khan, ending his 16-year ownership of the club. This marked the end of an era for Fulham, as the club transitioned to new ownership.
While Al Fayed’s ownership of Fulham FC had its ups and downs, it undeniably had a significant impact on the club’s history. His investment and commitment helped Fulham reach heights it hadn’t experienced in decades, and his ownership remains a memorable chapter in the club’s rich history.
Mohamed Al Fayed’s journey began in the retail industry, where he honed his business acumen. He worked in various roles, learning the intricacies of retail operations and management. This early experience laid the foundation for his future endeavors in business.
One of the pivotal moments in Al Fayed’s career came in the 1970s when he, along with his brother Ali Al Fayed, purchased the iconic Ritz Hotel in Paris. The Ritz Hotel was already a symbol of luxury and opulence, but under their ownership, it underwent extensive renovations and modernization. Their efforts elevated the hotel’s status and attracted a global elite clientele.
In 1985, Mohamed Al Fayed acquired Harrods, the world-famous luxury department store in London. His ownership of Harrods marked a significant milestone in his career. Al Fayed’s vision and investment turned Harrods into a global shopping destination, synonymous with luxury and extravagance. He expanded and modernized the store, setting new standards in the retail industry.
While Al Fayed’s career was marked by success, it was not without controversy. His disputes with the British royal family over the circumstances of the deaths of Princess Diana and his son Dodi Fayed attracted intense media scrutiny and legal battles. These controversies added a layer of complexity to his career.