Prince Rahim Al-Hussaini has been named the new Aga Khan, spiritual leader of millions of Shia Ismaili Muslims around the world. He will take on the role from his father Prince Karim Aga Khan, who died on Tuesday at the age of 88.

LISBON, Portugal (AP) — Rahim Al-Hussaini was named Wednesday as the new Aga Khan, spiritual leader of the world’s millions of Ismaili Muslims, following the death of his father. The 53-year-old was designated as the Aga Khan V, the 50th hereditary imam of the Shiite Ismaili Muslims, in his father’s will. His father died Tuesday in Portugal.

Hussaini, the Aga Khan IV, died on February 4 in Lisbon, Portugal at age 88. As founder and chairman of the Aga Khan Development Network (AKDN), the Aga Khan IV was one of architecture’s greatest patrons.

The Aga Khan, spiritual leader of the world's 15 million Ismaili Muslims and one of the world's wealthiest hereditary heirs, died Tuesday in Portugal. He was 88 and had led the Shiite branch — with large communities in South and Central Asia,

Hussaini, the Aga Khan — the title given to the imam of the Nizari Ismailis, a branch of Shia Islam — died February 4 in Lisbon at the age of 88. He led a major development aid foundation.

The Aga Khan is considered by his followers to be a direct descendant of the Prophet Muhammad and is treated as a head of state

At the age of 20, Prince Karim Al-Hussaini inherited the reins of a Shia Muslim lineage and used his entrepreneurship to become one of the world’s richest hereditary rulers.

World leaders mourn the death of Prince Karim Aga Khan IV and remember his lifelong commitment to peace and development.

The Aga Khan was the spiritual leader of about 12 million people from the Ismaili sect of Islam, having inherited his title at the age of 20.

Rahim Al-Hussaini has been appointed as the new Aga Khan, the spiritual leader for millions of Ismaili Muslims worldwide. He was named Aga Khan V, becoming the 50th hereditary imam of the Shiite Ismaili Muslims,