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Billionaire and Ismaili Muslims spiritual leader the Aga Khan is dead

He "passed away peacefully" in Lisbon, Portugal, surrounded by his family, his charity said in a statement on social media.

Billionaire philanthropist and spiritual leader Aga Khan, who owns multi-billion investments in various sectors in Kenya, has died at the age of 88, the Aga Khan Development Network announced today.

Prince Karim Aga Khan was the 49th hereditary imam of the Ismaili Muslims, who trace his lineage directly to the Prophet Muhammad.

He “passed away peacefully” in Lisbon, Portugal, surrounded by his family, his charity said in a statement on social media.

Born in Switzerland, he had British citizenship and lived in a chateau in France.

The Aga Khan’s charities ran hundreds of hospitals, educational and cultural projects, largely in the developing world.

He enjoyed a lavish lifestyle, with a private island in the Bahamas, a super-yacht and a private jet.

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.

The Ismailis, a Muslim sect, have a worldwide population of about 15 million, including 500,000 in Pakistan. There are also large populations in India, Afghanistan and Africa.

Prince Karim Aga Khan succeeded his grandfather as imam of the Ismaili Muslims in 1957 at the age of 20.

The prince had an estimated fortune of US$1 billion  in 2008, according to Forbes magazine. His inherited wealth was boosted by numerous business interests, including horse-breeding.

In Kenya, his investments include in companies such as Industrial Promotion Services (Kenya) Ltd, Allpack Industries Ltd, Alltex EPZ Ltd, Botanical Extracts EPZ Ltd, Farmer’s Choice Ltd, Frigoken Ltd, Kamyn Industries Ltd, Premier Food Industries Ltd, Plastics and Rubber Industries Ltd, Property Development and Management (Holdings) Ltd and Wire Products Ltd.

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He is also the majority shareholder in Nation Media Group, Jubilee Holdings, Tourism Promotion Services East Africa and Diamond Trust Bank Kenya.

Following his death, the charity said the announcement of his designated successor will follow.

Additional reporting by BBC

 

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