Billionaire and spiritual leader, the Aga Khan, has passed away

Billionaire philanthropist and spiritual leader, Aga Khan, has passed away at the age of 88, as confirmed by his charity, the Aga Khan Development Network.

Prince Karim Aga Khan, the 49th hereditary imam of the Ismaili Muslims, who trace their lineage back to the Prophet Muhammad, “passed away peacefully” in Lisbon, Portugal, surrounded by his family, according to a statement from his charity. Born in Switzerland and holding British citizenship, he lived in a château in France.

King Charles, who had a personal friendship with the Aga Khan and his late mother, Queen Elizabeth II, is said to be deeply saddened by his passing and is in private contact with the family.

The Aga Khan’s charitable work spanned hundreds of hospitals, educational institutions, and cultural projects, predominantly in the developing world. Known for his luxurious lifestyle, he owned a private island in the Bahamas, a super-yacht, and a private jet.

The Aga Khan Development Network expressed its condolences to his family and the Ismaili community worldwide. The statement also reaffirmed the organization’s commitment to continuing his legacy of improving lives globally, regardless of religious or ethnic backgrounds.

The next imam will be one of his male descendants, with an announcement expected soon.

The Ismaili community, a Shia Muslim sect, reveres a line of Imams, including Imam Ismail, who died in 765 AD. The global Ismaili population is around 15 million, with significant communities in Pakistan, India, Afghanistan, and Africa. The Aga Khan became the imam in 1957, succeeding his grandfather at just 20 years old.

In 2008, Forbes estimated his fortune at $1 billion (£801m), with wealth accumulated from business interests, including horse breeding. He founded the Aga Khan Foundation and supported educational initiatives such as a university in Karachi and programs at Harvard and MIT. His Aga Khan Trust for Culture was instrumental in restoring Delhi’s Humayun’s Tomb, and the Aga Khan Award for Architecture honors outstanding architectural contributions each year. He also established the Nation Media Group, East and Central Africa’s largest independent media organization.

Pakistan’s Prime Minister Shehbaz Sharif praised him as a “man of vision, faith, and generosity,” highlighting his significant contributions to poverty alleviation, healthcare, and gender equality. Nobel laureate Malala Yousafzai called his legacy “incredible,” especially in education, health, and development.

UN Secretary-General Antonio Guterres remembered him as a “symbol of peace, tolerance, and compassion.”

In addition to his global impact, the Aga Khan was also renowned for his role in horse breeding. He was a leading owner and breeder of racehorses in the UK, France, and Ireland. He famously bred Shergar, one of the world’s most valuable and famous racehorses. Shergar won the Epsom Derby in 1981 by a remarkable 10 lengths in the Aga Khan’s distinctive emerald green silks. Shergar was later kidnapped in 1983 and never found. Despite the loss, the Aga Khan remained committed to his Irish breeding operation, saying in 2011 that Shergar’s victory was a memory that “can never, never go away.” He went on to win the Derby four more times with other horses, including Shahrastani (1986), Kahyasi (1988), Sinndar (2000), and Harzand (2016).