The billionaire philanthropist and Islamic spiritual leader Aga Khan, or better to call him, Prince Karim Aga Khan – who invented the Costa Smeralda in the sixties when he bought a piece of Gallura, has died yesterday (Feb. 4th) in Lisbon, Portugal, aged 88. The announcement was released by his charity, Aga Khan Development Network, in a statement on social media, referring to him as the 49th hereditary Imam of the Ismaili Muslims, whose lineage traces directly back to the Prophet Muhammad. The Ismailis are a Shia Muslim sect who revere a number of Imams, including Imam Ismail, who died in 765 AD. They have a worldwide population of about 15 million, including 500,000 in Pakistan. There are also large populations in India, Afghanistan and parts of Africa.
Prince Karim al-Husayni’s accession was unexpected: the title of Aga Khan skipped his father, Prince Aly Khan, and went straight to him. His grandfather explained in his will that ‘in view of the altered conditions in the world in very recent years, including the discoveries of atomic sciences, I am convinced that it is in the best interest of the Shia Muslim Ismailian Community that I should be succeeded by a young man’. Thus, aged 21, he became the 49th hereditary Imam of the Ismaili Muslims.
Born in Geneva, Switzerland, in 1936, he lived in a chateau in France, and with a British citizenship, he was a close friend of the British crown. His successor, which will be one of his male descendants, will be named soon, the Aga Khan Development Network said. Princess Zahra Aga Khan (1970) is the eldest child of Aga Khan IV and his first wife, Princess Salimah Aga Khan. Based in Geneva, Prince Rahim Aga Khan is the second of his lineage.
Aga Khan was famous for his lavish lifestyle, and among his thousands of owning, there was a private island in the Bahamas, a superyacht and a private jet. He was literally the initiator of the luxury lifestyle which pushed the image of Costa Smeralda, in Sardinia, as an ultra-rich tourist destination. The legend has it that he bought a coastal stretch of Gallura in the north-east of Sardinia, without knowing the value of that land, which at that time was nothing compared to the current value. But he was not interested in taking financial advantage of the purchase, and offered a billion to the local shepherds, to acquire the proprietary, but they replied: “No, no, what billion, we want millions”. Despite we do not know how much was paid at that time, for sure the current value can be more or less imagined.
Brick by brick, he built Porto Cervo, a village soon destined to become the capital of the international jet set, laying the foundations of what is today a modern tourist port and a superyachts destination.
The Aga Khan’s charities ran hundreds of hospitals, educational and cultural projects, largely in the developing world.
Aga Khan’s net worth was estimated over US$13.3 billion in 2013 and Forbes described him as one of the world’s fifteen richest royals. The Aga Khan was a business magnate with British and Portuguese citizenship, one of the largest private development networks in the world.
The prince’s fortune was mainly inherited from his family and increased by numerous business interests, including horse breeding in the United Kingdom, France and Ireland. Aga Khan had bred the champion horse Shergar, once the most famous and most valuable racehorse in the world, who won the Epsom Derby in 1981, characterized by an emerald green saddle, a colour which reminded him his love for that corner of Sardinia. The horse was then kidnapped in Ireland two years later and was never found again. The Aga Khan went on to win the big race another four times with Shahrastani (1986), Kahyasi (1988), Sinndar (2000) and Harzand (2016). In honor of his winning horse, the Aga Khan named his 46.6-metre Lürssen superyacht, Shergar (1083).
Prince Karim Aga Khan succeeded his grandfather as Imam of the Ismaili Muslims in 1957, at the age of 20, and over time founded the Aga Khan Foundation charity, naming a university in Karachi and the Aga Khan Program for Islamic Architecture at Harvard University and the Massachusetts Institute of Technology after him. The Aga Khan Trust for Culture was instrumental in the restoration of the site of Humayun’s Tomb in Delhi and founded the Nation Media Group, which has become the largest independent media organization in East and Central Africa. Pakistani Prime Minister Shehbaz Sharif paid tribute to the prince, describing him as a “man of vision, faith and generosity. Through his tireless efforts in the fight against poverty, healthcare and gender equality, he championed the cause of the marginalized, leaving an indelible mark on countless lives.”
Nobel Prize winner Malala Yousafzai fondly remembered the Aga Khan: “His legacy will continue to live on through the incredible work he led for education, health and development around the world.” UN Secretary-General Antonio Guterres described him as a “symbol of peace, tolerance and compassion in our troubled world”.
From the time of his ascension to the Imamate of the Nizari Ismailis in 1957, the Aga Khan was involved in complex political and economic changes which affected his followers, including the independence of African countries from colonial rule, the expulsion of Asians from Uganda, the independence of Central Asian countries such as Tajikistan from the former Soviet Union and the continuous turmoil in Afghanistan and Pakistan.
Regarding his passion for superyachts, the spiritual leader also owned a 50m Devonport superyacht (Alamshar, 2014), a 26m Hodgdon yacht (Zarkava, 2010) and its sistership, the 26m M/Y Valyra (2011).
The Yacht Club Costa Smeralda pays tribute to His Highness the Aga Khan
His Highness the Aga Khan was the founder of the YCCS in 1967 and had been its President ever since. The entire Yacht Club Costa Smeralda, its members, Board of Directors, Commodore, Board of Auditors, management and staff extend their deepest condolences to His Highness’ family and the Ismaili community. The YCCS will honour his vision by continuing its mission, combining a passion for the sea with a profound love for Sardinia.
