Do the Fayeds still own the Ritz?

Al Fayed had an estimated net worth of 1.70 billion pounds, according to the 2023 Sunday Times of London Rich List. At the time of his death, Al Fayed had already sold off two of the biggest brands in his portfolio, Harrods and the London soccer team Fulham FC. He still owned The Ritz in Paris.



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The new proprietor of The Ritz is Abdulhadi Mana Al-Hajri, a 40-year old business tycoon who is also brother to the second wife of Sheikh Hamad bin Jassim bin Jaber al-Thani, the Emir (ruler) of Qatar.

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After decades of continuous involvement, Mr Al-Fayed has decided it was time to pass his duties as chairman, a statement from the Ritz Paris said; however, as of 2022, Al Fayed, now 93, still owns the Ritz.

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In 2010, it was announced that Fayed had sold Harrods to Qatar Holdings for £1.5 billion.

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A subsequent government investigation into the takeover, officially published in 1990, found that Al Fayed and his brother had been dishonest about their wealth and origins to secure the takeover. They called the claims unfair. Five years later, his first application for British citizenship was rejected.

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As a neighbor on the rue Cambon, Gabrielle Chanel decided one day in 1937 to take a suite at the Ritz Paris. She would stay for 34 years.

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Although no price was given, people close to the deal say the Qatari investor paid between £800 million and £1 billion ($975 million and £1.2 billion) for the Ritz.

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The Ritz also became the hotel of choice for Hollywood stars.

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Recent Renovations Have Boosted the Hotel's Prestige & Comfort. If the Ritz has always been an emblem of royal-level luxury in the French capital, its recent overhaul worth $450 million has made it a destination more than worthy of Palace status.

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Sexual assault allegations In 1997, several former Harrods employees told ITV's The Big Story their stories of harassment, from being groped and kissed to having cash stuffed in their bra. He denied the allegations. In 2008, Mr Al Fayed was accused of indecent assault against a 15-year-old girl, which he again denied.

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