Mohamed Al-Fayed Success Story
This Egyptian business tycoon has a large variety of trade interests. Mohamed formerly owned the famous Harrods Department Store, Knightsbridge and till date has the ownership of the luxurious Hotel Ritz Paris. In July 2013, Fayed sold his ownership of the Fulham F.C. to Shahid Khan.
Mohamed Abdel Moneim Al-Fayed was born on the 27th of January 1929, in Alexandria, Egypt. He was the first born child of a primary school teacher, followed by 4 other siblings. Fayed was ambitious and business minded from his school days and indulged in earning money by selling homemade lemonade and eventually even tried to succeed at various other jobs.
Mohamed Al-Fayed With Michael Jackson
Fayed started working for his brother in law, Adnan Khashoggi in the year 1954. Adnan was an international arms dealer from Saudi Arabia but he employed Fayed to work in his import-export business. Fayed gained a lot of knowledge of the developments in the global business world while working with Adnan.
In the year 1964, Fayed and his brothers created a shipping company in Egypt and eventually moved the company’s headquarters to Genoa, Italy and started additional offices for the same in London. In the year 1968, the International Marine Services was set up by Fayed. Fayed and his brothers bought 30% stake in House of the Fraser in the year 1984 (the famous store in London, Harrods was a part of this group) and by the year 1985 they had purchased the balance 70% stake as well for 615 million pounds.
The House of Fraser became a public limited company in 1994, but the ownership of Harrods remained private in the hands of Fayed. In the year 1996 Fayed launched once again the humor publication Punch, but it eventually closed again in 2002. On the 10th of May, in the year 2010, Harrods was sold to Qatar Holdings, the emirate of Qatar’s sovereign wealth fund for 1.5 billion pounds.
Fayed is hotelier who has ownership of the Hotel Ritz Paris. Besides this, he also owns the famous and historic Balnagown Castle in Scotland. Until the year 2010 he owned the famous Harrods store in London. And until the year 2013, Fayed also had ownership of the Fulham F.C. He’s a person who’s always found a way to stay motivated for the next level of business success.
Married to Samira Khashoggi from the year 1954 until 1956, Fayed had his first child son with her. In the year 1985 Fayed remarried former model and Finnish socialite Heini Wathén. On the 31st of August, Dodi who was Fayed’s eldest son, died in a controversial car crash along with the Princess of Wales, Lady Diana and her driver Henri Paul in the year 1997.
Through his second marriage he had 4 children- Omar, Karim, Jasmine and Camilla. In the year 1987 Fayed established the Al-Fayed Charitable Foundation that provides help financially and otherwise to disabled children in Mongolia, Thailand and the United Kingdom.
8 Self Improvement Tips for the Rising Entrepreneur | Motivation
7 Reasons Why Every Entrepreneur Needs to Go Skydiving
Define Success and Happiness as an Entrepreneur | Entrepreneur