Mohamed Al Fayed has died at the age of 94.
Al Fayed’s passing comes just one day after the 26th anniversary of his son’s death.
Sky News understands that Al Fayed died early Friday morning and was buried in central London after Friday prayers at London Central Mosque in Regent’s Park.
The Egyptian-born businessman was best known as a former owner of the Harrods department store and Fulham football club in London.
He sold Harrods to Qatar Holdings in May 2010.
Three years later, he also sold Fulham FC, to the US businessman Shahid Khan.
Al Fayed’s son, the film producer Dodi Fayed, died on 31 August 1997 in the same car as Princess Diana, when it crashed in Paris.
He fought a long campaign after their deaths, alleging the crash was not an accident and that it had been orchestrated by the British security services.
However, French police concluded it was an accident, caused in part by speeding and by the high alcohol level in driver Henri Paul’s blood. A British police investigation concurred.
Fulham FC paid tribute to the businessman on Friday.
His successor, Shahid Khan, said: “On behalf of everyone at Fulham Football Club, I send my sincere condolences to the family and friends of Mohamed Al Fayed upon the news of his passing at age 94.
“The story of Fulham cannot be told without a chapter on the positive impact of Al Fayed as Chairman.
“His legacy will be remembered for our promotion to the Premier League, a Europa League Final, and moments of magic by players and teams alike.
“I always enjoyed my time with Al Fayed, who was wise, colourful and committed to Fulham, and I am forever grateful for his trust in me to succeed him as Chairman in 2013.
“I join our supporters around the world in celebrating the memory of Mohamed Al Fayed, whose legacy will always be at the heart of our tradition at Fulham Football Club.”
Born in Alexandria in 1929, he founded a shipping company before moving to London in the 1960s.
He soon became a friend of royals and high society and purchased high-profile businesses such as the Ritz hotel in Paris in 1979 and Harrods in 1985.
He later bought Fulham in 1997 for £6.25m.
Al Fayed became a friend of Princess Diana through his sponsorship of charities and events attended by Royal family members.
He invited the princess, along with Prince Harry and Prince William, to holiday on the Al Fayad yacht in the summer of 1997.
The billionaire’s relationship with the royal family was recently depicted in season five of The Crown, where Al Fayed, played by Salim Daw, was seen getting to know Diana.
But the businessman was regularly shrouded in controversy.
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