Mohamed Al-Fayed leaves the High Court in London during one of his legal battles. PA
Mohamed Al-Fayed leaves the High Court in London during one of his legal battles. PA
Mohamed Al-Fayed leaves the High Court in London during one of his legal battles. PA
Mohamed Al-Fayed leaves the High Court in London during one of his legal battles. PA


Always working against the rules made and broke Mohamed Al-Fayed


  • English
  • Arabic

September 02, 2023

The phone rang. It was Mohamed Al-Fayed’s assistant. They wanted to move my seats at Fulham Football Club to be with him in the Directors’ Box.

I said it was not that simple. I went to Craven Cottage to watch Fulham with one of my sons and a friend and his son. Easy, she said. We’d all be moving. When I paused, she asked if it was the money. We would carry on paying for our season tickets but now we’d be sitting with Mr Al-Fayed. Again, I hesitated. She grew exasperated.

“Mr Blackhurst, what is the issue?” I asked if I could be honest with her. “Of course”. I didn’t want to be photographed near Mr Al-Fayed. “Mr Blackhurst, can I be honest with you?” Of course. “Mr Blackhurst, do you think you’re the first person who has had that problem?”

So began a bizarre season for us. I’d known Mr Al-Fayed, who has just died aged 94, for years, ever since I’d covered his epic battle with Lonrho, led by the redoubtable ‘Tiny’ Rowland, for control of Harrods.

Ever since he appeared on the scene with his audacious bid for House of Fraser, which owned Harrods, Mr Al-Fayed had presented himself, and played the role to the hilt, of the outsider. Even when he owned the Ritz Hotel in Paris, which he did to his death, he could not claim to be truly inside the top social circles.

The maverick image suited his mischievous, non-conformist personality and undoubtedly explained his ability to build a large fortune from lowly beginnings. It also sowed the seeds for some his frustrating battles as he sought to best his enemies in the British establishment.

I was “Baldy”. Ever since I would get a summons to meet him. The format was always the same. We would sit in the chairman’s office at Harrods and he would vent his frustration at the British establishment for not granting him a passport. He would end by asking how many children I had and once when I said I had a new baby he handed me a Harrods teddy bear.

Never the cuddly insider but former Harrods chairman Mohamed Al-Fayed liked to be noticed. AFP
Never the cuddly insider but former Harrods chairman Mohamed Al-Fayed liked to be noticed. AFP

When I told him I was following the team he owned, Fulham, I was deputy editor of a newspaper and clearly, he thought, of some value to him – hence the move to the best seats.

We would use the Directors’ Lounge, and mingle with a strange assortment of characters, including regulars such as Max Clifford, the late celebrity public relations man, and Countess Raine Spencer, step-mother of Princess Diana. Mr Al-Fayed himself would never be there – he had his own, wood-panelled room, across the corridor, where he would entertain his own guests.

Once, I received a request to see him in there. It was halftime in a cup match. In the lair, because that’s how it felt, was Hugh Grant. He looked equally embarrassed. Mr Al-Fayed wanted to tell us of a development in his feud against the British Royal Family and Prince Philip in particular.

This was after his son Dodi, and Princess Diana, had died in the Paris car crash. From that date on, there was less larking about and banter. He would frequently wear a sad, teary, mournful expression. He never recovered from that tragedy.

In his room at Harrods, he had the famous photograph of the princess sitting on the diving board of his yacht and looking coy and wistful (it was similar to the iconic snap of her alone at the Taj Mahal from years previously) framed in pride of place on his wall. “Look at her Baldy”. He would shake his head. “They killed her, Philip, he killed her.”

He spent a fortune, not to mention an age, on trying to prove she and Dodi were murdered. Every suggestion, however preposterous or so it seemed, and from the most unlikely source (he was prone to unscrupulous folk coming up with all manner of possible scenarios) was exhaustively investigated.

Always, there was nothing. Not anything that provided concrete evidence of her assassination. I found myself listening, because it would be rude not to and because there was always the thought that one day he might come up with something tantalising.

It didn’t happen. The counter was always much stronger: that if someone wanted to kill Diana there were easier ways than in a road accident in which there was no guarantee of death; she died because Mr Al Fayed’s driver, Henri Paul, behaved recklessly and was under the influence of alcohol and prescription drugs. And if she’d worn a seat-belt she would probably have lived. It did not smack of a clinical execution as he alleged.

Mr Al-Fayed was in denial. Possibly, he could not accept his own employee was responsible; certainly, it fuelled his conviction that Britain’s elite were out to get him.

He believed they abhorred that Dodi was close to becoming stepfather to the heir to the throne – in fact, there was no proof that Diana and Dodi’s relationship was leading to marriage.

The extravagant claims were a match for his demeanour, which was jarring to many he sought to cultivate in high society. What to him was flamboyant was suspect to others. This displayed itself in the garish shirts and clothes he always wore, some of the people he liked to gather around him – like Michael Jackson and Britney Spears – and the purchase of the house in France belonging to the exiled Duke of Windsor.

Corruption exposed

In truth, Mr Al-Fayed marginalised himself – by not being honest about the source of his funding to buy the department store group (he said it was his, when it was from overseas); by bribing MPs with envelopes of cash to ask questions in Parliament on his behalf; with his profane language and aggressive pursuit of women, some of whom worked for him; and his outrageous slurs on the House of Windsor.

He liked to say it was because he was Egyptian. It wasn’t. He did not play by the rules and when they went against him, he tried to bend them to suit his cause.

  • Former Fulham owner Mohamed Al-Fayed. PA Wire
    Former Fulham owner Mohamed Al-Fayed. PA Wire
  • (FILES) Harrods Chairman Mohamed Al Fayed (C) cuddles singers Charlotte Church (R) and Filippa Giordano (L) amongst the teddy bears in the exclusive department store in Knightsbridge, London, 3 January 2001. Tycoon Mohamed Al-Fayed, a controversial billionaire and the father of Dodi who was killed along with Princess Diana in 1997, has died aged 94 his family said in a statement Friday, September 1, 2023. (Photo by Adrian DENNIS / AFP)
    (FILES) Harrods Chairman Mohamed Al Fayed (C) cuddles singers Charlotte Church (R) and Filippa Giordano (L) amongst the teddy bears in the exclusive department store in Knightsbridge, London, 3 January 2001. Tycoon Mohamed Al-Fayed, a controversial billionaire and the father of Dodi who was killed along with Princess Diana in 1997, has died aged 94 his family said in a statement Friday, September 1, 2023. (Photo by Adrian DENNIS / AFP)
  • Mohamed Al-Fayed leaves the High Court in London after giving evidence at the inquest into the death of his son, Dodi, and Diana, Princess of Wales. PA/AP
    Mohamed Al-Fayed leaves the High Court in London after giving evidence at the inquest into the death of his son, Dodi, and Diana, Princess of Wales. PA/AP
  • Mohamed Al-Fayed and Hollywood actor Tony Curtis. AFP
    Mohamed Al-Fayed and Hollywood actor Tony Curtis. AFP
  • Italian tenor Luciano Pavarotti, right, greets Mohamed Al-Fayed. AP
    Italian tenor Luciano Pavarotti, right, greets Mohamed Al-Fayed. AP
  • Italian actress Sophia Loren and Mohamed Al-Fayed outside Harrods. PA/AP
    Italian actress Sophia Loren and Mohamed Al-Fayed outside Harrods. PA/AP
  • Mohamed Al-Fayed with his hotel staff in Paris. AP
    Mohamed Al-Fayed with his hotel staff in Paris. AP

There was an element of snobbishness against him, that’s true. But it was not racism, and in attracting suspicion and unease he did not help himself either.

At the end of that season, our seats were summarily moved to the other side of Fulham’s stadium. No credible explanation was supplied. Presumably, I’d been a disappointment to him.

Later, after he erected a statue of Michael Jackson at Craven Cottage, I wrote an article saying I objected to taking my son to a football ground where there was a memorial to a man who faced trial on abuse charges. I received a message from Mohamed: “Baldy, this is the end. Mo.”

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Meydan race card

6.30pm: Maiden Dh 165,000 1,600m
7.05pm: Handicap Dh 185,000 2,000m
7.40pm: Maiden Dh 165,000 1,600m
8.15pm: Handicap Dh 190,000 1,400m
8.50pm: Handicap Dh 175,000 1,600m
9.25pm: Handicap Dh 175,000 1,200m
10pm: Handicap Dh 165,000 1,600m

The Way It Was: My Life with Frank Sinatra by Eliot Weisman and Jennifer Valoppi
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Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

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MATCH INFO

Manchester City 2 (Mahrez 04', Ake 84')

Leicester City 5 (Vardy 37' pen, 54', 58' pen, Maddison 77', Tielemans 88' pen)

Man of the match: Jamie Vardy (Leicester City)

THE DETAILS

Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5

What is safeguarding?

“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.

match info

Manchester United 3 (Martial 7', 44', 74')

Sheffield United 0

Updated: September 02, 2023, 3:18 PM