Mohamed Al-Fayed, The Billionaire Former Owner Of Harrods, Dies At 94; What Was His Net Worth?

What was Mohamed Al-Fayed’s net worth at the time of his death?

Egyptian business tycoon and philanthropist Mohamed Al-Fayed, prominently known for being the one-time owner of the London department store Harrod's, died on August 30, 2023. He was 94. Al-Fayed was also known for his first son, Dodi Al-Fayed, who was killed alongside Princess Diana in the 1997 car crash in Paris. He had an estimated net worth of $2 billion at the time of his death, according to Celebrity Net Worth.  

Mohamed Al-Fayed’s business, income and assets

Al-Fayed first business venture was a shipping company, which he co-founded in Egypt with his brothers. He then found his greatest business success after he moved to England. Al-Fayed and his brothers acquired a 30% stake in the department store group House of Fraser in 1984 and bought out the remaining 70% for over $7700 million (£615 million) the following year, as per The Independent. With this Al-Fayed gained control of the famed Harrods store. He remained the owner until 2010 when he sold Harrods to Qatar Holdings for $2.4 billion, as per Forbes.

In 1997, Al-Fayed purchased the London football club Fulham for over $7.8 million (£6.25 million) with the intention to bring the club to the Premier League within five years. However, he reached this goal sooner and by 2002 the team was competing in European football. In the 2009-10 UEFA Europa League, the club made it to the finals. Al-Fayed sold Fulham to billionaire Shahid Khan for a reported $300 million, as per Celebrity Net Worth.

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In 1979, Al-Fayed purchased the Ritz Paris Hotel for $20 million, as per Vocal Media. The hotel which is regarded as one of the best hotels in Europe underwent a four-year renovation and reopened in 2016. It features suites named after illustrious guests, like Coco Chanel. The hotel was owned by Al Fayed at the time of his death.

In 1972, Al Fayed bought the Balnagown Estate which features luxury lodges, cottages, and houses each located within one of three beautiful estates in the Northern Scottish Highlands. The estate also features the 14th-century Balnagown Castle beside the village of Kildary in Easter Ross.

Al-Fayed reportedly invested over $25 million (£20 million) in the property, building it up from its initial 12 acres to around 65,000 acres and restoring the Balnagown Castle.

Among other assets, Al-Fayed owned a 1988 Ferrari Testarossa which reportedly cost him $212,160, the Sakara Yacht, and the Sokarr Yacht, which was the 89th largest yacht in the world in 2007, as per Vocal Media. Al-Fayed sold the Sokarr Yacht in 2014 for an undisclosed amount.

Net worth over the years

Personal life

Mohamed Al-Fayed married Saudi Arabian author Samira Khashoggi in 1954. They were married till 1956. They had a son Dodi Al-Fayed who reportedly dated Princess Diana after her divorce from Charles III. He died in the infamous car crash in 1997 which killed Princess Diana as well.

Al-Fayed married Finnish socialite Heini Wathén in 1985 and they had four children named Jasmine, Karim, Camilla, and Omar.

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FAQs

Was Mohamed Al-Fayed at Diana's funeral?

As per a report from The Guardian, Mohamed Al Fayed was present at Princess Diana's funeral. 

Where is Mohamed Al-Fayed buried?

Mohamed Al-Fayed was laid to rest at the Barrow Green Court, a 17th-century country estate that he owned with his wife, Heini Wathén.

Who is Mohamed Al-Fayed's wife?

Mohamed Al-Fayed was married to Heini Wathén from 1985 to 2023.

What is Mohamed Al-Fayed’s net worth?

Mohamed Al Fayed’s net worth is estimated to be $2 billion at the time of his death.