Cairo - Eco - Fady Labib : The Egyptian businessman, Mohamed Al-Fayed, died in Britain at the age of 94. “Al-Fayed” is the billionaire ranked by Forbes on the list of the richest Arabs, with a net worth estimated at $2 billion. “Al-Fayed” was born in the city of Alexandria, in the Ras El-Tin area, from Abu Kan. He works as a teacher of the Arabic language. When he was young, Al-Fayed worked in many jobs ...
He worked in the port of Alexandria as a goods porter, and moved between several jobs. In 1954, he married Samira Khashoggi, the sister of the Saudi businessman Adnan Khashoggi, who later employed him in his own import and export company, and Al-Fayed moved on to To Genoa, Italy in 1958 and then to London in 1964, two years later he became an advisor to the Sultan of Brunei and founded his own shipping company, Genevaco, and in 1972 he launched the International Marine Repair Yard Marine Services in Dubai.
Mohammed Al-Fayed had made a fortune after working with Adnan
Khashoggi and then in Dubai after. He was the first to lay berths for Dubai
Port, which brought life to it, and Dubai became a berth for ships from all
over the world, which led to an increase in trust between Al-Fayed and Sheikh
Rashid, so Sheikh Rashid asked him to To bring him companies to extract oil,
and this was at Al-Fayed’s personal expense, so he went to the foreign
companies that extract oil and convinced them to come to Dubai and extract oil
from it, and in fact 300,000 barrels were extracted per day, which helped
Al-Fayed to create enormous wealth and he controlled the price of oil and
raised its price.
His control over the
price of oil
There was an agreement
between Al-Fayed and Sheikh Rashid stipulating that Al-Fayed would share 20% of
oil profits. At the same time, Sheikh Rashid had signed a contract for Al-Fayed
that Dubai Port would remain under Al-Fayed’s responsibility and management for
25 years. He contributed to many projects in Dubai and was the reason for the
renaissance. And the historical shift that took Dubai from mud buildings to
skyscrapers. After that, he moved his activity to Britain and settled there
since 1974 AD. He bought the Dor Chester Hotel in London and achieved a fortune
after purchasing the famous, luxurious Ritz Hotel in Paris in 1979.
The Duke of Windsor's palace
All eyes were focused on
him when he bought the Duke of Windsor's palace in Paris and sent a list of its
antiques to Queen Elizabeth II so that she could choose from them what she
wanted.
In 1983 AD, Mohamed
Al-Fayed bought the famous Harrods department store in a unique deal that
tripled his profits. In May 2010, Mohamed Al-Fayed sold the famous Harrods
department store in central London to Qatar Holding Company, which represents
the interests of the ruling family in Qatar. The sale was made for 1 5 billion
pounds sterling (1.7 billion euros).
He owned the London club
Fulham, which plays in the Premier League in the English Premier League, in a
deal worth 6.25 million pounds sterling in the year 1997 before selling it to
Pakistani Shahid Khan in the year 2013, and has many luxury hotel chains around
the world until now.
Between London and
Scotland
Mohamed Al-Fayed, who
has four children from his Finnish wife, owns many properties in Surrey near
London, an eighteenth-century castle in Scotland, a palace in the Swiss resort
of Gstaad, and another in Saint-Tropez. The Egyptian billionaire’s properties
are distributed among the United States, London, Dubai, Paris, Switzerland, the
Riviera, Scotland, and dozens of places. other in the world.
Mohamed Al-Fayed settled
in Switzerland in approximately mid-2002 after failing to obtain a British
passport despite his children having British citizenship. Al-Fayed, who did not
hold British citizenship, had moved from London, where he resided for 35 years,
to Geneva. In the spring of 2003.
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