The Aga Khan IV, Wealthy Leader of the Ismaili Muslims, Dies at 88

The Aga Khan IV, who as the leader of the world’s Ismaili Muslims fused entrepreneurship and philanthropy in becoming one of the world’s wealthiest hereditary rulers, died on Tuesday in Lisbon. He was 88.

His death was confirmed by his Aga Khan Development Network in a post on X, the social media site. No cause was given.

Urbane, cosmopolitan and often media-averse, the Aga Khan — born Prince Karim Al-Hussaini — rejected the notion that expanding his personal fortune would conflict with his charitable ventures. He said his ability to prosper complemented his duty to enhance the lives of Ismaili Muslims, a branch of the Shiite tradition of Islam with a following of 15 million people in 35 countries.

An imam, or leader of his faith, was “not expected to withdraw from everyday life,” he once said after becoming the Aga Khan. “On the contrary, he’s expected to protect his community and contribute to their quality of life. Therefore, the notion of the divide between faith and world is foreign to Islam.”

His projects included developing the island of Sardinia’s ritzy Costa Smeralda resort area, breeding thoroughbred racehorses and establishing health initiatives for the poor in the developing world.