The last protector is Hazrat Mahdi (as) and sovereignty will come to an end with him
In his work “Al-Cavab al-Mustakim, written as an answer to questions posed by Al-Haqim at-Tirmidhi in his “Hatm’al-awliya,” Muhyiddin Ibn Arabi writes:
“THE AGE OF PROPERTY WILL COME TO AN END WITH HIM, [Hazrat Mahdi (as)], AND SOVEREIGNTY WILL END WITH HIM...”