Mohamed Al-Fayed was a rich businessman from Egypt who lived and did most of his business in the United Kingdom starting in the 1960s. He owned the Hôtel Ritz in Paris, Harrods department store, and Fulham Football Club, all in London.
Al-Fayed has been successful in different kinds of businesses. This article looks at how much money he has and where it comes from, as well as how it has grown over time.
How Much is Mohamed Al-Fayed Net Worth?
As of 2023, Mohamed Al-Fayed’s net worth is estimated to be $2 billion. This wealth is a culmination of his successful investments in retail, real estate, and other business ventures. The valuation of his assets, including Harrods, before its sale and the Ritz hotel, significantly contribute to his net worth.
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How Did Mohamed Al-Fayed Make Money?
Al-Fayed started by selling sodas in Egypt, then switched to selling sewing machines. He and his brothers founded a shipping company and invested in others in the Middle East and Italy. After a failed attempt to build an oil refinery in Haiti, he moved to London.
In London, Al-Fayed helped developers get contracts in Dubai and advised the Sultan of Brunei in 1966. With money from real estate, he bought the Ritz hotel in Paris for $30 million in 1979. Later, he, along with his brothers, acquired a 30% share in House of Fraser (Harrod’s parent company) and eventually bought the remaining 70%.
In 1997, Al-Fayed purchased Fulham Football Club. He sold Harrod’s in 2010 for £1.5 billion ($1.86 billion) and Fulham in 2023 for $300 million.
How Much Did Mohamed Al-Fayed Sell Harrods?
Over the years, Fayed kept growing his influence in England. In 1984, he and his brothers bought 30% of House of Fraser, a department store group, and got the rest in 1985.
This meant Fayed now owned Harrods, a famous store. In the 80s, he had a big fight with Roland Rowland, who tried to take over Harrods. Fayed owned it until 2010, when he sold Harrods to Qatar Holdings for £1.5 billion.
Mohamed Al-Fayed Philanthropy
Fayed started a charity called the Al-Fayed Charitable Foundation in 1987 to help kids who are disabled, neglected, or poor. The Foundation partners with charities like Great Ormond Street Hospital and ChildLine.
In 1998, Fayed bought the school where Princess Diana used to study in Kent and turned it into the New School at West Heath for children who need support.
Mohamed Al-Fayed Real Estate Investment
Fayed’s big project is the Balnagown Estate in Scotland. He bought it in 1972 and spent over £20 million on it. The property started with 12 acres, and now it’s about 65,000 acres. Fayed also fixed up the 14th-century Balnagown Castle and started a tourist business there.
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