Billionaire philanthropist and spiritual leader Aga Khan has passed away at 88, as confirmed by his charity, the Aga Khan Development Network.

Prince Karim Aga Khan, the 49th hereditary imam of the Ismaili Muslims, breathed his last in Lisbon, Portugal, in the presence of his family.

He was born in Switzerland, held British citizenship, and resided in a chateau in France.

The Aga Khan's charities have managed numerous hospitals and educational projects worldwide, mainly in developing nations.

Expressing condolences, the Aga Khan Development Network stated, We continue to work towards improving lives globally, as he envisioned, regardless of religious beliefs or origins.

Regarding his passion for horse racing, the Aga Khan notably bred Shergar, a renowned racehorse, and won the Epsom Derby multiple times with other horses.

In addition to his philanthropic endeavors, he founded various institutions and initiatives, such as the Aga Khan Foundation and the Aga Khan Trust for Culture.

Leaders worldwide, including Pakistan's Prime Minister Shehbaz Sharif and Nobel laureate Malala Yousafzai, paid tribute to him for his visionary and impactful contributions to humanity.