|Net Worth:||$2 Billion|
|Date of Birth:||January 27, 1929 (94 years old)|
|Profession:||Businessperson, Film Producer, Actor|
What is Mohamed Al Fayed’s net worth? How does Mohamed Al Fayed make his money? Below is the current net worth of Mohamed Al Fayed and how Mohamed Al Fayed makes his money.
What is Mohamed Al Fayed’s Net Worth?
Mohamed Al-Fayed is an Egyptian business mogul and humanitarian who has a net worth of $2 billion. For an estimated $2.4 billion, he sold Harrods to Qatar Holding in 2010. Numerous homes are held by Mohamed Al-Fayed in Europe, specifically the United Kingdom. He has a number of famous commercial ventures, including ownership of the Ritz Paris, Harrods, and the former Premier League football team Fulham.
Fayed is also well-known for his first son, Dodi, who dated Princess Diana and died in the fatal Paris car accident in 1997 alongside his lover.
Mohamed Al-Fayed was born on 27 January 1929 in Alexandria, Egypt. He was raised alongside his two brothers named Ali and Salah.
Fayed entered the business field by establishing a shipping firm in Egypt with his brothers. They later relocated the corporate headquarters to Genoa, Italy. After that, Fayed started working professionally with François Duvalier of Haiti, with whom he had plans to construct an oil refinery in that country. The partnership, although, quickly fell apart.
His greatest commercial success came after he relocated to England in the mid-1960s. He entered into a collaboration with Sheikh Rashid bin Saeed Al Maktoum, ruler of Dubai, and was asked to assist in modernizing Dubai. To do this, Fayed founded the International Marine Services and imported British construction firms like the Costain Group, Taylor Woodrow, and Bernard Sunley & Sons to the UAE.
House of Fraser
Over the years, Fayed kept growing his influence in England. He and his brothers bought a 30% stake in the House of Fraser department store group in 1984, and they bought the remaining 70% the following year.
Fayed now owns the renowned Harrods department store. He had a public dispute with businessman Roland Rowland, who tried to take over Harrods.
Fayed was the owner of Harrods up until 2010 when Qatar Holdings purchased Harrods for £1.5 billion.
For $6.25 million, Fayed bought the London football team Fulham in 1997. Within five years, he wanted to get the team into the Premier League. Fayed achieved his goal considerably quicker than he anticipated because, by 2002, Fulham was playing in the European football league.
The team advanced to the UEFA Europa League final in 2009–2010. In 2013, when Fulham was sold to investor Shahid Khan, Fayed’s ownership ended.
In the Cash-for-Questions controversy of 1994, Fayed was suspected of paying two Conservative MPs bribes to ask questions in the House of Commons on his behalf. The incident featured lobbyist Ian Greer of London. After Jonathan Aitken, a cabinet member was discovered to have stayed for free at Fayed’s Ritz Paris hotel at the same time as a group of Saudi arms merchants, there was even more outrage.
The controversy led to the ignominious resignation of the two accused Conservative MPs, and it also sparked the formation of the Committee on Standards in Public Life to stop future instances of corruption.
Allegations of Sexual Assault
Numerous female accusers have leveled sexual assault charges against Mohamed Al-Fayed. He allegedly subjected young female jobseekers to gynecological examinations and HIV tests when he was the owner of Harrods, inviting some to spend weekends with him in Paris. Additionally, Fayed allegedly regularly assaulted the store’s secretaries.
From 1954 until their divorce in 1956, Mohamed Al-Fayed was married to Samira Khashoggi, a writer from Saudi Arabia. Together they welcomed a son named Dodi.
Later, in 1985, Fayed married Heini Wathén, a socialite from Finland. They have four kids together. The youngest child is the CEO of EarthX and Earth Space Technical Ecosystem Enterprises. He is also an environmentalist.
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