The Aga Khan, a billionaire philanthropist and spiritual leader, died at the age of 88 on February 4. The announcement of his designated successor will follow, his charity the Aga Khan Development Network announced on Wednesday.
Prince Karim Aga Khan was the 49th hereditary Imam of the Shia Ismaili Muslims, who trace his lineage directly to the Prophet Muhammad.
His charity said in a statement on social media platform X that he “passed away peacefully” in Lisbon, Portugal, surrounded by his family.
The Aga Khan’s charities ran several hospitals, educational and cultural projects in the developing world. His name is also synonymous with success as a racehorse owner with thoroughbred Shergar, which is known be among the most famous breeds in the world, news agency Reuters reported.
He went on to became a leading owner and breeder of race horses in France, Ireland, and the UK, breeding Shergar.
According to Forbes magazine, the prince had an estimated fortune of $1bn (£801m) in 2008, with his business interests, including horse-breeding boosting his inherited wealth.
Khan was bron in Switzerland and had a British citizenship. He resided in a chateau in France and enjoyed a lavish lifestyle. He also owned a private island in Bahamas, a $200 million super-yacht, and private jets, the report said.
A report by the BBC said that King Charles III has been made aware of Khan’s death who was a friend of both himself and his mother, the late Queen Elizabeth II. The report said that the King is deeply saddened at the loss of his friend and is in touch with the family.
The Aga Khan Development Network said it offered its “condolences to the family of His Highness and to the Ismaili community worldwide”.
“We continue to work with our partners to improve the quality of life for individuals and communities across the world, as he wished, irrespective of their religious affiliations or origins,” it added.
Prince Karim Aga Khan succeeded his grandfather as Imam of the Ismaili Muslims in 1957 at the age of 20.
