LONDON: Mohamed Al-Fayed, a self-made Egyptian billionaire and father of Princess Diana's boyfriend Dodi, has passed away, his family said.

He died just a day before the 26th anniversary of Dodi and Diana's death.

"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 August 30," a statement issued by the family said, BBC reported. 

"He enjoyed a long and fulfilled retirement surrounded by his loved ones," the statement added. 

He rose from selling fizzy drinks on the streets of Alexandria in Egypt. During a two-year marriage to Samira Khashoggi, he started to work for his brother-in-law Adnan Khashoggi, a Saudi Arabian arms dealer and businessman which helped Fayed to forge connections.

Fayed launched his own a shipping business, later bought the Ritz hotel in Paris, took over Harrods, a departmental store. However in 2010, he sold Harrods.