Mohamed Al-Fayed has died 26 years to the day after his son Dodi and Princess Diana passed away following a horror car crash in Paris.
The self-made billionaire, whose business interests included Harrods and Fulham FC, died at the age of 94.
Al-Fayed was buried after Friday prayers at London Central Mosque in Regent's Park.
Al Shorouk newspaper reported that Ashraf Haider, a member of his family, wrote: "My wife’s grandfather, the Egyptian businessman Mohamed Al-Fayed, has died.
Diana, Princess of Wales, listens intensely as she attends an engagement in the Angolan capital of Luana
PA
"We belong to God and to Him we shall return."
The Egyptian businessman, who was born in Alexandria in 1929, founded a shipping company before moving to London in the 1960s.
Al-Fayed soon became a friend of royals and high society.
He sold Harrods to Qatar Holdings in May 2010.
Al-Fayed relinquished control of the Cottagers to American businessman Shahid Khan three years later.
Princess Diana died alongside Al-Fayed's film producer son Dodi on August 31, 1997.
Al-Fayed alleged the crash was not an accident.
He also suggested it had been orchestrated by the British security services.
Members of the public seen outside the gates of Kensington Palace, central London, on the 26th anniversary of the death of Diana
PA
However, an inquiry conducted by the French police concluded it was an accident.
It found the crash was caused in part by speeding and by the high alcohol level in driver Henri Paul's blood.
A separate probe by British police reiterated the French findings.
Al-Fayed was reportedly particularly fond of Princess Diana.
Mohamed al Fayed joins other local residents outside Surrey County Hall in Kingston upon Thames
PA
Michael Cole, then director of public affairs at Harrods, told Vanity Fair in 1995: "Diana is so easy going with Mohamed... Mohamed is not one of those who's overwhelmed by her.
"They spark off each other very well."
Dodi became romantically involved with Diana in July 1997 after entertaining her on his yacht.
Following the couple's passing, Al-Fayed erected two memorials at Harrods.