Billionaire Aga Khan, owner of Shergar, dies aged 88

Billionaire Aga Khan, owner of Shergar, dies aged 88

Nathan Williams
 PA Media Prince Karim Aga Khan smiling wearing a dark suit, white shirt and blue spotted tie PA Media

Aga Khan, the multibillionaire philanthropist and spiritual leader, passed away at the age of 88, his charity, the Aga Khan Development Network, has announced.

The Ismaili Muslims claim to be direct descendants of the Prophet Muhammad under the leadership of Prince Karim Aga Khan, who was the nation’s 49th hereditary imam.

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 condoleed the Ismaili community and the His Highness’s family worldwide.

Regardless of their religious beliefs or origins, “we continue to work with our partners to improve the quality of life for individuals and communities around the world,” it continued.

His successor, which will be one of his male descendants, will be named soon, the Aga Khan Development Network said.

The Ismailis are a Shia Muslim sect who revere a number of Imams, including Imam Ismail, who died in 765 AD.

 PA Media Queen Elizabeth II wearing a black dress with golden leaf patterns standing next to the Aga Khan wearing a black tuxedo PA Media

At the age of 20, Prince Karim Aga Khan became the Ismaili Muslims’ imam in 1957.

The prince had an estimated fortune of $1bn (£801m) in 2008, according to Forbes magazine. His inherited wealth was boosted by numerous business interests, including horse-breeding.

The prince founded the Aga Khan Foundation, which later became the names of organizations like Harvard University’s Aga Khan Program for Islamic Architecture, and the Massachusetts Institute of Technology’s Aga Khan Foundation.

The Humayun’s Tomb site in Delhi was a key restoration project for the Aga Khan Trust for Culture. There is an annual Aga Khan Award for Architecture.

And he founded the Nation Media Group, the largest independent media outlet in East and Central Africa.

Pakistan’s Prime Minister Shehbaz Sharif paid tribute to the prince describing him as a “man of vision, faith, and generosity” and a “remarkable leader”.

“Through his tireless efforts in poverty alleviation, healthcare, and gender equality, he championed the cause of the marginalized, leaving an indelible mark on countless lives”, he said.

Malala Yousafzai, an activist and Nobel laureate, said: “His legacy will continue to live on through the incredible work he led for education, health, and development around the world.”

UN Secretary-General Antonio Guterres described him as a “symbol of peace, tolerance and compassion in our troubled world”.

Beyond his global impact, much of his legacy will surround his horse breading.

 PA Media File photo dated 03/06/81 of Shergar during the lead in by owner Aga Khan (top hat) with jockey Walter Swinburn after winning the Derby Stakes Classic at Epsom. PA Media

Shergar won the 1981 Derby at Epsom by ten lengths in the Aga Khan’s emerald green racing silks and red epaulets, but he was abducted in Ireland two years later and never found.

Despite losing his beloved horse, he told the BBC in 2011 – on the 30th anniversary of Shergar’s biggest triumph – that he did not contemplate deserting his Irish breeding operation.

Of Shergar’s triumph, he said: “It’s a memory that can never, never go away.

” If you’re in racing, the Epsom Derby is one of the greats. To win a race of that caliber in itself is an extraordinary privilege because it has always been. More than that, to win it the way he did.

Source: BBC

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