Spiritual leader and businessman Aga Khan IV dies at 88

Spiritual leader of Ismaili Muslims and businessman the Aga Khan has died aged 88.

According to a statement from the Aga Khan Development Network, the billionaire investor died peacefully surrounded by his family.

Viewed as a descendant of the Prophet Muhammad, His Highness Prince Karim Al-Hussaini, Aga Khan IV, was the 49th hereditary Imam of the Shia Ismaili Muslims.

“His Highness Prince Karim Al-Hussaini, Aga Khan IV, 49th hereditary Imam of the Shia Ismaili Muslims . . . passed away peacefully in Lisbon on 4 February 2025, aged 88, surrounded by his family,” reads the statement.

He took over the reins from his grandfather back in July 1957 at the age of 20, building a network across 30 countries including African states, with investments worth over Ksh. 128 billion annually.

“Leaders and staff of the Aga Khan Development Network offer our condolences to the family of His Highness and to the Ismaili community worldwide.”

Prince Karim Aga Khan was the founder and chairman of the Aga Khan Development Network.

The Aga Khan Health Services and the Aga Khan Education Services are among the leading agencies that have played a key role in the promotion of health and education in the country.

Locally, it boasts of establishments such as the Nation Media Group in Kenya, the Aga Khan University, the Aga Khan Hospitals, Diamond Trust Bank (DTB), Jubilee Insurance as well as the Aga Khan primary and secondary schools.

The group of development agencies also has programmes in areas including environment, culture, rural development, disaster reduction and promotion of private-sector enterprise.

 “As we honour the legacy of our founder, Prince Karim Aga Khan, 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," the statement added.

His Highness the Aga Khan visited Kenya in April 2018 at the invitation of the State and as part of celebrations to mark his Diamond Jubilee, 60 years since his accession to his role of spiritual leadership.

With estimates of his wealth ranging from $800 million to $13 billion, he is renowned for his passion for horse breeding, as well as his personal investments in tourism and real estate.

A holder of British, French, Swiss, and Portuguese citizenships, he exemplified the essence of an international mogul with a keen eye for luxury yachts and jets.