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| Description: Net Worth: $1.9 BILLION Industry: Real Estate Country of Citizenship: Egypt Age: 85 Number of Jobs Created: 1,900 The former owner of famous London marquee store Harrods seems to be winding down in his eighth decade. The London-based property magnate began by founding a shipping company in his native Egypt, which he quickly moved into Italy and England. He diversified into property and acquired several key assets in Europe and the United States. He also acquired Fulham FC, a UK-based football club, which he later offloaded to Shahid Khan, a Pakistani-born American billionaire for $300 million. He owns the Ritz Hotel in Paris, which he acquired for $30 million and later shut down to perform over $150 million of renovations. The Ritz is slated to reopen in 2015. In 2010 he sold British luxury retailer Harrods to Qatar Holdings for $2.4 billion. Furthermore, he owns Cocosa, which he acquired for his daughter. Al-Fayed will forever be remembered as the father of Dodi Al Fayed, who died with Princess Dianna in a car crash in Paris on 31 August 1997. |
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