- Historical event
- 13 December 1936
- Today’s Aga Khan owns hundreds of racehorses, a private island in the Mediterranean Sea, several jet aircraft and a large yacht. Aga Khan can annually spend a huge amount of money, because his income is largely based on a system of tithes, given to him by believers.
On this day in 1936 the current Aga Khan – Prince Karim al-Hussaini – was born. The name “Aga Khan” refers to a religious leader i.e. Imam of Nizari (a denomination of Ismailism within Shia Islam). The present day Aga Khan is the fourth in a row that bears that name. According to tradition, the Aga Khan is descended from Mohammed, founder of Islam, through his daughter Fatima.
The wealth of Aga Khan is estimated at $ 800 million. He owns hundreds of racehorses, a private island in the Mediterranean Sea, jet aircraft and a large yacht. In France, he owns an estate called the Aiglemont property, north of Paris.
The Aga Khan can spend huge amount of money annually, because his revenues are largely based on a system of tithes, given to him by his believers. It is estimated that there are about 15 million Nizari Ismailism adherents worldwide, each of whom supposedly gives about 12.5% of its annual revenue to him. Interestingly, he has the right to be referred to as “His Highness.” That privilege was granted to him by the Queen Elizabeth II in 1957.