The Fatimid Caliph al-Mustansir died in the year 1094 AD. The succession to the Fatimid throne was contested by two of his sons; Nizar (eldest) and Ahmad (much younger).
Ahmad who was actually installed as Fatimid caliph with the title of al-Mustali billah. Subsequently, Nizar rose in revolt to assert his claims, but he was eventually defeated and killed in 1095. As a result of these events the unified Ismaili community and dawa of the latter decades of al-Mustansir’s reign was permanently split into two rival branches, the Mustaliyya and the Nizariyya.
The Bohras (Sulaymani, Tayyibi, Dawoodi, Alevi) also known as Mustalians (Mustaliyya) accept Mustali billah as the rightful heir to the Fatimid caliph (al-Mustansir).
The followers of the Aga Khan, also known as the Nizaris (Nizariyya), reject the younger son and accept the caliphate/Imammah of Nizar.
There is an interesting story on who orchestrated the downfall of Nizar (some claim him to be the rightful heir of his father).
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