Mohamed Al Fayed is a name known to everyone who knows slightly about the business world. This spectacular entrepreneur set on his journey in the UK to become one of the most successful businessmen globally. Mohamed Al Fayed owned the Ritz Hotel in Paris, Harrods in the UK, and Fulham FC. He made a fortune through his business ventures, becoming an accredited businessman. He passed away in 2023. This article tells you all about Mohamed AL Fayed’s net worth and more.
Who is Mohamed Al Fayed?
Mohamed Al Fayed is one of the most successful businessmen globally. He was born in Alexandria, Egypt, in 1929. He has two brothers named Salah and Ali. He moved to the United Kingdom in the mid-60s to embark on his entrepreneurial journey.
Mohamed Al Fayed married Samira Khashoggi first and had a son, Dodi. However, they got divorced in 1956, and Khashoggi passed away in 1986 at 51. Later, Dodi passed away in a Paris car crash in 1997 alongside Princess Diana. Al Fayed then married Heini Wathén in 1985, and he had four kids together: Omar, Camilla, Karim, and Jasmine. Mohamed Al Fayed passed away at 94 on August 30, 2023.
Before we tell you how much is Mohamed Al Fayed’s net worth, here are insights into his business journey:
Mohamed AL Fayed Business
Al Fayed started his business career as the co-founder of a shipping company in Egypt. Afterward, they moved the company’s headquarters to Italy. Then, Mohamed al-Fayed partnered with Haitian President François Duvalier for an oil refinery. However, the idea did not see the light of the day. Eventually, he ventured into property development, making a name in the industry.
He later commenced a partnership with Sheikh Rashid bin Saeed Al Maktoum to help modernize Dubai. Al Fayed established the International Marine Services and introduced the UAE to British companies like Taylor Woodrow and Bernard Sunley & Sons.
Moreover, Mohamed Al Fayed acquired the Harrods department store in London in 1985 for £615 million. He owned the store for over half a century before selling it to Qatar. He sold Harrods to the Sovereign Wealth Fund of Qatar for a whopping £1.5 billion in 2010. It was one of the most iconic transactions, helping Al Fayed come to the limelight further.
Additionally, he owned the Fulham Football Club, the Ritz Hotel in Paris, and Balnagown Estate in Scotland. The Ritz Hotel reopened in 2016 after a four-year renovation with rooms named after illustrious guests.
He bought the 12-acre Balnagown Estate in Easter Ross, Scotland, in 1972. He invested around £20 million in the property over time, expanding it to 65,000 acres. Moreover, he started a tourist accommodation business in the 14th-century Balnagown Castle after renovating it.
Al Fayed purchased the London Fulham FC for £6.25 million in 1997. He wanted to bring the club into the Premier League within five years; the club played European football in 2002. Furthermore, Fulham FC made it to the final in the 2009-10 UEFA European League.
However, he also sold the club in 2013. Al Fayed sealed the deal with US auto parts billionaire Shahid Khan for a monumental $300 million.
Here’s the answer to the big question, “How much is Mohamed Al Fayed net worth?”
Mohamed Al Fayed Net Worth
Mohamed Al Fayed’s net worth at the time of his death was $2 billion.
People also ask about Mohamed Al Fayed net worth 2022 and Mohamed Al Fayed net worth 2021
So, his net worth over the years is as follows:
Mohamed Al Fayed Controversies
Numerous women have accused Mohamed Al Fayed of sexual assault. He selected young prospective female employees to spend weekends with him in Paris. Also, many store secretaries accused him of harassment. Besides harassment, Al Fayed was also involved in money-related controversies involving politicians.
Mohamed Al Fayed Philanthropy
Mohamed Al-Fayed has always been in the limelight for his controversies. But people also knew his philanthropic nature. He donated to various organizations and established the Al Fayed Foundation in 1987 in the UK and Egypt. This foundation helps neglected, impoverished, and disabled children.
Moreover, in 1998, he purchased Princess Diana’s old boarding school in Kent and established the New School at West Heath for needy children.
Al Fayed’s Son Dodi and Princess Diana
Mohamed Al Fayed’s first son, Dodi, was dating Princess Diana after her divorce from Charles III in 1996. The situation caught worldwide media attention, and paparazzi started following Diana everywhere. In 1997, in Paris, Dodi and Diana sped away to avoid the paparazzi, and the car crashed into the Pont de l’Alma tunnel. Eventually, Princess Diana, Dodi, and chauffeur Henri Paul died due to the impact. If you wonder about Dodi Al Fayed net worth, it was around a million pounds at the time of his death.
Al Fayed mentioned that the crash was not an accident but a conspiracy designed by MI6. Yet, no proof was found, and the theory was debunked. Mohamed Al Fayed left the battle against the Royal Family to avoid issues for Diana’s sons, William and Harry.
He said, “I’m a father who lost his son and I have done everything for 10 years. But now, with the verdict, I am accepting it but with all the reservations which I have mentioned.”
What Happens to Mohamed AL Fayed Net Worth After His Death?
Mohamed Al Fayed passed away, leaving a huge inheritance to his wife and four children. Though he had sold Harrods and Fulham FC, his notable assets include a mansion in Surrey and the Ritz Hotel.
Among the four, inheritance has been a highlighted issue between Camilla and Omar. High Court documents show that the two argued over their father’s estate in Surrey during the first lockdown. Plus, reports even say that Omar and Camilla’s husband had a physical altercation on the occasion. The matter went to the High Court with claims and accusations from both sides.
Omar labeled it a ‘sibling power struggle’ and mentioned that he was a victim. He said, “It’s quite a common drama where there are families with an elder leader figure who is in his winter period of life. I’m not vying for top-dog position. I am really seeking to encourage harmony.”
At the same time, Al Fayed also had Luxury apartments in New York and London, besides nine Rolls-Royce. Moreover, the Ritz Hotel Paris is worth £500m, followed by the £100m Surrey mansion.
Despite the clashes and feuds, there has been no progress, and the distribution of assets remains a mystery.
The Bottom Line
Mohamed Al Fayed is one of the most famous British businessmen. He was born in Alexandria, Egypt, in 1929, and moved to the UK mid-60s to embark on his entrepreneurial journey. Al Fayed owned the UK’s popular luxury departmental store, Harrods. Additionally, he had ownership of Fulham FC before selling it to Shahid Khan. The Ritz Hotel in Paris is also among the most notable ventures of Al Fayed, valued at £500 million today. Mohamed Al Fayed’s net worth was around £2 billion at the time of his death in August 2023.
Why did Al Fayed not get British citizenship?
The British government did not grant Mohamed Al Fayed citizenship as they did not consider him of good character. He was involved in a cash-for-questions political scandal and the break-in to the Harrods safe deposit box.
Who owns Harrods now 2023?
Mohamed Al Fayed owned Harrods, a luxury departmental store in the UK. He sold the store to Qatar for £1.5 billion. Now, the state of Qatar owns it via its sovereign wealth fund, the Qatar Investment Authority.
Where did Al Fayed get his wealth?
Mohamed Al Fayed made most of his money from Harrods, the luxury departmental store in London. Moreover, he had many other businesses, including The Ritz Hotel in Paris and Fulham FC.
Why did Fayed sell Harrods?
Al Fayed sold Harrods in 2010 after owning it for 26 years. He mentioned that problems with pension fund trustees led him to sell the store.