Prince Rahim Aga Khan V has been named the 50th hereditary Imam (spiritual leader) of the Shia Ismaili Muslim community, following the death of his father, Prince Karim Aga Khan IV, at the age of 88.

The announcement was made Wednesday by the Aga Khan Development Network (AKDN) on X (formerly Twitter).

The succession follows the unsealing of the late Aga Khan IV’s will. The AKDN statement highlighted the Ismaili community’s 1,400-year history of hereditary leadership and its global presence in over 35 countries, with an estimated 12 to 15 million members.

Prince Rahim, born October 12, 1971, is the eldest son of the late Aga Khan IV and Princess Salimah. He has extensive experience within the Aga Khan Development Network (AKDN), serving on various boards and chairing the AKDN’s Environment and Climate Committee. He has also been closely involved with the Institute of Ismaili Studies and the community’s social governance institutions.

The late Aga Khan IV, renowned for his humanitarian work and philanthropy, received numerous condolences from world leaders following his death on Tuesday in Lisbon, Portugal. Beyond his spiritual leadership, he was also a successful racehorse owner, notably known for the thoroughbred Shergar. His significant contributions to improving the lives of people in impoverished regions around the world have left a lasting legacy.