Prince Rahim al-Hussaini Aga Khan has been named the 50th hereditary Imam of the Ismaili Muslim community, following the passing of Mawlana Shah Karim Aga Khan IV, according to the Aga Khan Development Network (AKDN) on social media.

Prince Karim Aga Khan, renowned for his triumphs in horse racing, immense wealth, and global development work, breathed his last in Lisbon, Portugal, at the age of 88 on Tuesday.

A post on the AKDN social media page said the announcement was made in Lisbon on Wednesday, where the late Imam’s will was read in the presence of his family and senior community leaders.

“In keeping with the centuries-old tradition of nass — the formal designation of a successor — the mantle of leadership has now passed to Mawlana Shah Rahim Aga Khan V,” read a post on the Ismaili social media website.

The announcement adds that the new Imam inherits the spiritual and institutional leadership of the Ismaili community.

As the community comes to terms with the loss of its beloved 49th Imam, it now looks to Prince Rahim Aga Khan V to guide them into a new era, the post on AKDN page said.

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