The founder of the Nation Media Group, the Aga Khan, has died at the age of 88. The billionaire philanthropist and spiritual leader of the Ismaili muslims died in Lisbon, Portugal.
At the time of his death, Aga Khan –Â whose full names were Prince Karim Al-Hussaini Aga Khan IV – was 49th hereditary imam of the Ismaili Muslims, who according to the BBC, trace his lineage directly to the Prophet Muhammad.
The BBC reports that Aga Khan succeeded his grandfather as imam of the Ismaili Muslims in 1957 at the age of 20.
“He had an estimated fortune of $1bn in 2008. His inherited wealth was boosted by numerous business interests, including horse-breeding. He became a leading owner and breeder of race horses in the UK, France and Ireland, breeding Shergar, once the most famous and most valuable racehorse in the world,” the BBC reported.
At the same time, he was the founder of the Nation Media Group, which is currently ranked as the largest media organization in East and Central Africa. His investment in NMG are through the Aga Khan Development Network (AKDN).
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AKDN also holds interests in businesses such as Industrial Promotion Services (Kenya) Ltd, Allpack Industries Ltd, Farmer’s Choice Ltd, premier Food Industries, and Tourism Promotion Services Eastern Africa.
His name is also synonymous with Aga Khan Schools and foundation, and Aga Khan University Hospital in Kenya. In addition, the leader had also ventured several other businesses including the Diamond Trust Bank (DTB), Serena Hotels, Jubilee Insurance, Aga Khan Health Services, and Aga Khan Fund for Economic Development.
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