7 Assets Owned By The Late Egyptian Billionaire Mohamed Al-Fayed

Mohamed Al-Fayed, who died on Thursday at the age of 94, was one of the world’s richest men, with a fortune assessed by Forbes at $2 billion.

Al-Fayed’s rise to fortune and notoriety was extraordinary, given his humble beginnings in Alexandria, far from the world of grandeur.

Al-Fayed, the son of an Egyptian school inspector, began his career selling fizzy drinks and Singer sewing machines. However, his fortunes improved when he moved into real estate, shipping, and building. He established his family’s riches successfully, first in the Middle East and then in Europe.

Al-Fayed amassed a fortune by starting, acquiring, and flipping many businesses and major commercial properties during the last seven decades.

Some of the notable assets that Al-Fayed possessed during his lifetime are listed by HowAfrica:

1. Fulham Football Club

In 1997, Al-Fayed paid £30 million for Fulham Football Club. He was the club’s president for 16 years before selling it to Shahid Khan, the owner of the NFL’s Jacksonville Jaguars, for $300 million in 2013.

 

2. House of Fraser Group, including Harrods

In 1984, Al-Fayed and his brothers purchased a 30% share in House of Fraser, which comprised the London department store Harrods. They later bought the remaining 70% of House of Fraser for £615 million in 1985. Although House of Fraser became public in 1994, Fayed held private control of Harrods until May 10, 2010, when he sold it to Qatar Holdings, Qatar’s sovereign wealth fund.

 

3. Hotel Ritz Paris

Al-Fayed was the owner of the Hotel Ritz Paris at the time of his death. He purchased the legendary hotel in 1979 for a rumored cost of $30 million. He famously spent an estimated $450 million remodeling the hotel between 2011 and 2016.

 

4.  Balnagowan Castle & Estates, Scottish Highlands

Al Fayed purchased the Balnagown estate in Easter Ross, Northern Scotland, in 1972. He invested almost £20 million in repairing the 14th-century pink Balnagown Castle and established a tourist accommodation business.

 

5. HJW Geospatial

Photogrammetric mapping, orthophotography, aerial photography, satellite images, LiDar terrain modeling, GIS spatial data fusion, and QA/QC oversight are among the geospatial services offered by HJW GeoSpatial Inc. These services are available to both government and private-sector clients around the country.

 

6. Turnbull & Asser

Turnbull & Asser Ltd. is a classic shirt business that sells custom and ready-to-wear shirts and ties made in the United Kingdom.

 

7. 75 Rockefeller Plaza

75 Rockefeller Plaza is a skyscraper in New York City that was built in 1947 as a northern extension of Rockefeller Center.

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