Al Fayad had owned Harrods since 1985 and built the business into a globally recognised luxury brand during his time at the helm.
But during his ownership he had a series of disputes with the British establishment. He was unsuccessful in getting British citizenship, and believed that he had been unfairly targeted by UK tax authorities.
Al Fayad is best known in Britain for his belief that his son, Dodi, and Princess Diana, were the victims of an establishment plot when they died in a car crash in Paris in 1997.
Al Fayad spent vast sums of money on trying to prove official involvement in the deaths after the accident.
Qatar Holding is Harrods' fifth owner since it opened as a small grocery in 1840.