Al-Fayed, a self-made Egyptian businessman who was also a former owner of Fulham Football Club, was devastated by the death of son Dodi Fayed in the car crash in Paris with Princess Diana 26 years ago.
He spent the rest of his life mourning the loss.
“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,” his successor as owner, Shahid Khan, said in a statement on the club’s website.
“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.”
His death comes one day after the anniversary of his son’s death, which occurred on August 31, 1997.
Al Fayed alleged his son’s death was not an accident and had been orchestrated by the British security services but French police concluded it was an accident.