The Aga Khan, renowned for his success in horse racing, vast wealth, and global development efforts, passed away in Lisbon at the age of 88, as confirmed by the Aga Khan Development Network on X.
His Highness Prince Karim Al-Hussaini, also known as the Aga Khan IV and the 49th hereditary imam of Shia Ismaili Muslims, died on Tuesday in Portugal, surrounded by his family. Both the Aga Khan Foundation and the Ismaili religious community shared this news on their websites. An announcement regarding his successor will be made at a later time. He is survived by three sons and one daughter.
A legacy of leadership
Prince Karim Aga Khan IV, viewed by his followers as a direct descendant of the Prophet Muhammad, became the community leader at a young age. His grandfather passed over his father in favour of him, believing that a younger leader would be better suited for guiding the Ismaili Muslim diaspora in the modern era.
A distinguished title and early leadership
In July 1957, Queen Elizabeth bestowed the title "His Highness" upon him. This came shortly after Aga Khan III, his grandfather, named him heir to the 1,300-year-old dynasty of the Ismaili Muslim community. He officially became Aga Khan IV on October 19, 1957, in Dar es Salaam, Tanzania — the same location where his grandfather had once received gifts worth his weight in diamonds.
Having left Harvard to be with his ailing grandfather, the Aga Khan returned to his studies after 18 months, now accompanied by an entourage and a deep sense of responsibility.
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Racehorse owner and billionaire
Apart from his religious leadership, Aga Khan IV became synonymous with success in horse racing, owning the famous thoroughbred Shergar. His lifestyle was equally extravagant, marked by private jets, a $200 million super-yacht, and a private island in the Bahamas. His wealth was estimated to range from $800 million to $13 billion, stemming from his family inheritance, horse breeding business, and investments in tourism and real estate.
Commitment to global philanthropy
The Aga Khan, who held citizenship in Britain, France, Switzerland, and Portugal, used his wealth to improve conditions in impoverished parts of the world. In a 2007 interview with The New York Times, he stated that poverty often leads to desperation and extremism, and that by assisting the poor through business, he was helping prevent these issues.
The scope of the Aga Khan’s financial empire is difficult to gauge, with some estimates placing his wealth in the billions. His community of Ismailis, originally based in India, considers it a religious duty to contribute up to 10 per cent of their income to him as their steward.
The Ismailis
The Ismailis are a distinct sect within Shia Islam, emerging in the 8th century from a schism regarding the rightful succession of leadership after the Prophet Muhammad's death. They derive their name from Imam Isma'il ibn Jafar, whom they recognise as the seventh Imam. This group emphasises the esoteric interpretation of Islam, focusing on the deeper, allegorical meanings of the Quran, which sets them apart from more literalist Islamic sects.
Ismailism developed during a period of significant political and religious upheaval in the Islamic world. Following the death of Muhammad ibn Isma'il, the movement evolved, leading to the establishment of the Fatimid Caliphate in the 10th century, which marked a peak in Ismaili political power and cultural influence.
Ismaili beliefs centre on the concept of an ongoing spiritual leadership through a line of Imams believed to be divinely appointed. The current leader is Karim Aga Khan IV, who plays a significant role in promoting social development and interfaith dialogue within and outside the community. The Ismailis practice a unique form of worship that differs from mainstream Islamic practices; for instance, they pray three times a day instead of five.
Today, Ismailis are spread across more than 25 countries worldwide, with significant populations in India, Pakistan, Syria, Iran, and Canada. Their history in these regions often dates back over a millennium.
Jinnah's journey: From Ismaili to Sunni
Muhammad Ali Jinnah was born on December 25, 1876, into an Ismaili Shia family in Karachi, Pakistan. His family followed the Aga Khan, a prominent leader of the Ismaili sect. However, by 1901, Jinnah converted to Sunni Islam, influenced by familial ties as his sisters married Sunni Muslims. This shift was partly due to the disapproval he faced from the Ismaili community regarding these marriages.
(With agency inputs)

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