MOHAMED Al Fayed's family have paid tribute to the "beloved" billionaire who died "peacefully" after a long retirement.

       The Egyptian, the dad of Princess Diana's lover Dodi, passed away on Wednesday, his family said.

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       Mohamed Al Fayed's family have paid tribute to the "beloved" billionaire who died 'peacefully' after a long retirement Credit: PA:Empics Sport

       In a statement released by Fulham FC, his family said: "Mrs Mohamed Al Fayed, her children and grandchildren wish to confirm that her beloved husband, their father and their grandfather, Mohamed, has passed away peacefully of old age on Wednesday August 30, 2023.

       "He enjoyed a long and fulfilled retirement surrounded by his loved ones.

       "The family have asked for their privacy to be respected at this time."

       Al Fayed's son-in-law and business partner, Ashraf Haidar, announced the tycoon's death on Facebook.

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       He wrote: "Today, for the mercy of God Almighty, my wife's grandfather, Egyptian businessman Muhammad Al Fayed, has passed away."

       Paying tribute on Friday, Fulham FC wrote on Twitter: "Everyone at Fulham was incredibly saddened to learn of the death of our former Owner and Chairman, Mohamed Al Fayed.

       "We owe Mohamed a debt of gratitude for what he did for our Club, and our thoughts now are with his family and friends at this sombre time."

       Al-Fayed amassed a fortune running several high-profile businesses including Harrods and The Ritz Paris.

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       But he is most famed for his colourful years at Fulham's Craven Cottage.

       The most iconic moment of his ownership came when he erected a statue of Michael Jackson outside the club's ground Craven Cottage in 2011.

       Al-Fayed owned department store Harrods which he snapped up in 1979.

       He sold the Knightsbridge department store to Qatar Holdings in May 2010.

       The billionaire also owned the Ritz Paris up until his death.