Rahim Al-Hussaini named the new Aga Khan after father's death

Prince Rahim Al-Hussaini was named the 50th hereditary Imam, or spiritual leader of the Shia Ismaili Muslims, on Wednesday following the unsealing of his father Prince Karim Aga Khan IV's will, the Aga Khan Development Network said in a statement.

His father, known for his dazzling wealth and development work around the world, died in Lisbon , the seat of the Ismaili Imamat, at the age of 88 on Tuesday.

Born on Oct. 12, 1971, Prince Rahim is the eldest son of the late Aga Khan IV and his first wife, Princess Salimah - née Sarah Croker Poole - a British ex-model. The couple had a daughter and two sons together.

Prince Rahim serves on the boards of many agencies of the Aga Khan Development Network, and has closely followed the work of the Institute of Ismaili Studies and the Ismaili community’s social governance institutions, serving as chairman of the AKDN's Environment and Climate Committee.

As Aga Khan - derived from Turkish and Persian words to mean commanding chief - he is believed by Ismailis to be a direct descendant of the Prophet Mohammad through the prophet's cousin and son-in-law, Ali, the first Imam, and his wife Fatima, the Prophet's daughter.

The world's Ismaili community comprises around 15 million members who live in Central Asia, the Middle East, South Asia, sub-Saharan Africa, Europe and North America.