Billionaire Mohamed Al-Fayed, the former owner of Harrods department store, has passed away at the age of 94.
Fayed was born in Alexandria, Egypt, in 1929, into a wealthy Egyptian family. He became famous for his outspoken views on the Royal Family of Britain, who he regularly criticized in media interviews and articles. Fayed gained great wealth through investments in businesses around the world and property ownership.
Fayed was best known for his ownership of Harrods, which he took over in 1985. Under Fayed, Harrods underwent massive refurbishment, a number of innovative retail concepts were introduced, and the famous Harrods food hall was built. Fayed also refurbished the iconic Harrods building in London’s Knightsbridge. In 2010, he sold Harrods to Qatar Holding LLC.
Fayed’s long-term feud with the Royal Family began in 1987 when he purchased The Ritz Hotel in London and moved in two years later, only to discover that the hotel had been denied a Royal Warrant (a symbol of quality used by the Royal Family). Fayed then upped the ante by removing the portrait of Queen Elizabeth II from the hotel and replacing it with a picture of himself. This angered the Royal Family and only further added to Fayed’s anti-Royal persona.
Fayed’s long-term anti-Royal stance did not stop him from mourning the death of Princess Diana, whom he considered to be a “true friend”. He famously funded the Princess Diana Memorial Fountain in Hyde Park, London.
Fayed will undoubtedly be remembered as a bold and outspoken billionaire businessman with an opinion on everything. In life, he may have been a thorn in the side of the aristocrats, but his desire and determination to create a better life for himself and his family will forever stand as a testament to his legacy.
