Aga Khan IV, Spiritual Leader And Business Visionary, Dies At 88

His Highness Prince Shah Karim Al-Hussayni, the 49th spiritual leader of the Shia Ismaili Muslims, better known as the Aga Khan IV, passed away at the age of 88 on Tuesday February 4, 2025, in Lisbon, Portugal, surrounded by his family.

His death marks the end of an era for a spiritual leader whose impact spanned business, religion, and philanthropy, leaving behind a profound legacy.

Aga Khan IV was not only a spiritual leader but also a visionary, widely recognized for founding East Africa’s largest independent media organization, Nation Media Group.

He built a vast portfolio of business ventures, cementing his place as one of the wealthiest and most influential investors on the African continent.

As a direct descendant of the Prophet Muhammad (peace be upon him), he led with a unique sense of duty, always striving to improve the lives of others.

In a statement from the Aga Khan Development Network (AKDN), the network he founded, leaders and staff worldwide mourned his passing.

“As we honor the legacy of our founder, Prince Karim Aga Khan, 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,” the statement read.

The Aga Khan University, a part of AKDN, also paid tribute, with faculty, staff, and students offering their condolences.

“As we honor the legacy of our beloved Founder and Chancellor, we continue to work to bring His Highness’ vision to life,” the institution said.

Born in Geneva and spending much of his formative years in Nairobi, Aga Khan IV’s early experiences in East Africa left a lasting impression that shaped both his worldview and his approach to business and philanthropy.

His connection to the region fueled his drive to venture into both fields, ultimately making him one of the world’s most influential and generous leaders.

In 1959, at just 23, Aga Khan IV took a bold step by founding East African Newspapers (Nation Series) Ltd, backed by the Aga Khan Fund for Economic Development.

This initiative would later evolve into Nation Media Group, a leading media company in East Africa.

His success in media marked the beginning of a broader business journey, opening doors to new opportunities across various sectors in the region.

Aga Khan IV’s investments on the Nairobi Stock Exchange reflect a well-rounded strategy, with his diverse portfolio valued at nearly $90 million.

His holdings spanned key sectors including banking, insurance, media, and hospitality, showcasing his broad business interests.

Some of his investments include a 37.98 percent stake in Jubilee Holdings, valued at $42.7 million, a 16.5 percent stake in Diamond Trust Bank worth $24.8 million, a 48.67 percent ownership in Nation Media Group, valued at $9.8 million, and a 45.04 percent stake in TPS Eastern Africa, also valued at $9.8 million.

These investments, managed through the Aga Khan Fund for Economic Development, reflect his strong belief in fostering growth across East Africa and his long-term commitment to the region’s prosperity.