Prince Rahim Aga Khan V has been named the 50th hereditary Imam of the Shia Ismaili Muslims, succeeding his late father, Prince Karim Aga Khan IV. In keeping with the historical tradition, he now assumes leadership of the estimated 15 million Shia Imami Ismaili Muslims worldwide following the passing of his father on Tuesday,

At the age of 20, Prince Karim Al-Hussaini inherited the reins of a Shia Muslim lineage and used his entrepreneurship to become one of the world’s richest hereditary rulers.

Mumbai: Prince Rahim Al-Hussaini Aga Khan V has been named as the 50th hereditary Imam or spiritual leader of the Shia Ismaili Muslims, following the unsealing of the Will of his late father, Prince Karim Al-Hussaini Aga Khan IV, who died in Lisbon, Portugal on Tuesday, aged 88.

The Aga Khan IV then took control of the Thoroughbred operation in 1960 following the death of his father. He earned France's leading owner title in his first year at the helm, and success followed in the years to come with names like Blushing Groom,

The late Prince Karim Al-Hussaini Aga Khan IV, who died on Tuesday in Lisbon after nearly seven decades as the spiritual leader of the global Ismaili Muslim community, will be buried in Egypt on Sunday,

Rahim Al-Hussaini was named Wednesday as the new Aga Khan, spiritual leader of the world’s millions of Ismaili Muslims, following the death of his father.

He was widely regarded as a builder of bridges between Muslim societies and the West despite his reticence to become involved in politics.

By Bruce Pannier Prince Karim Aga Khan IV, the spiritual leader of some 15 million Ismaili Muslims worldwide, died in Portugal on February 4 aged 88. The Aga Khan Development Network (AKDN) announced the passing of the “49th hereditary Imam of the Shia Ismaili Muslims and direct descendant of the Prophet Muhammad” on their website.