The Aga Khan, renowned for his leadership of the Ismaili Muslim community, immense wealth, and deep passion for horse racing, has died at the age of 88 in Lisbon, according to a statement from the Aga Khan Development Network on X. His successor will be announced in due course.

As the 49th hereditary imam of approximately 15 million Ismaili Muslims worldwide, the Aga Khan was revered for his religious guidance and philanthropic efforts. He was believed by his followers to be a direct descendant of the Prophet Muhammad through his cousin and son-in-law, Ali, and Ali’s wife, Fatima. The title of Aga Khan, meaning “commanding chief,” was originally bestowed in the 1830s by the Persian emperor upon his great-great-grandfather. His leadership extended across Ismaili communities in Central Asia, the Middle East, South Asia, Africa, Europe, and North America.

Beyond his spiritual role, the Aga Khan was synonymous with wealth and luxury, enjoying a life that included private jets, a $200 million super-yacht, and a private island in the Bahamas. His vast fortune was built on investments spanning multiple industries, including tourism, banking, and media.

A lifelong equestrian, he initially debated whether to continue his family’s tradition in thoroughbred racing after inheriting the title in 1960. However, an early triumph as France’s leading owner cemented his commitment. “I have come to love it,” he told Vanity Fair in 2013. “It’s so exciting, a constant challenge. Every time you sit down and breed, you are playing a game of chess with nature.”

His emerald-green silks became a familiar sight at the world’s top races. His stables produced champions like Sea the Stars, winner of the Epsom Derby and 2,000 Guineas, and Sinndar, who claimed the rare treble of the Epsom Derby, Irish Derby, and Prix de l’Arc de Triomphe in 2000. However, perhaps the most infamous horse linked to his name was Shergar, the brilliant Derby and King George winner who was kidnapped in 1983. The case remains one of racing’s greatest mysteries, with no trace of the horse ever found.

While horse racing brought him fame, his true legacy may lie in his vast charitable contributions through the Aga Khan Development Network, which works to alleviate poverty and improve education, health, and infrastructure in developing nations.