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.

Billionaire philanthropist and spiritual leader Aga Khan has died at the age of 88, his charity the Aga Khan Development Network has announced. Prince Karim Aga Khan was the 49th hereditary imam of the Ismaili Muslims,

The Aga Khan was given the title of “His Highness” by Queen Elizabeth in July 1957, two weeks after his grandfather the Aga Khan III unexpectedly made him heir to the family’s 1,300-year dynasty as leader of the Ismaili Muslim sect.