On November 11, on the results of its six-month investigation Reuters reported that Iran’s supreme leader Ayatollah Ali Khamenei controls a business empire worth $95 billion.
Khamenei’s assets are managed by the organization, called Setad, which now holds stakes in nearly every sector of Iranian economy, including finance, oil, telecommunications, and medicine. So, the assets value in the real estate is estimated at almost $52 billion, while the rest $43 billion fall to Iranian corporate holdings. Reuters highlights that the amount is roughly 40 percent bigger than Iran's total oil exports last year, which totaled $67.4 billion.
Setad has built its empire on the systematic seizure of thousands of property items belonging to ordinary Iranians who left the country after the revolution of 1979 or who were deprived of their property by the court’s decision. Over the years, the supreme leader, judges and parliament have issued a series of bureaucratic edicts, constitutional interpretations and judicial decisions bolstering Setad. Reuters’ reporters identified nearly 300 land plots that Setad put up for auction in May 2013 with the total value worth several millions of dollars.
The organization’s name refers to an edict signed by the Islamic Republic's first leader, Ayatollah Ruhollah Khomeini, shortly before his death in 1989. Setad is read in full as Headquarters for Executing the Order of the Imam.
Initially, Setad was created to help the poor and war veterans and was meant to exist for just two years. Nowadays, Setad keeps on controlling a charitable foundation, but it is not clear how much money goes to charity.
Setad’s representative said that the information presented is ‘far from realities and is not correct.’ He did not go into specifics.
Ali Khamenei was elected as Iran’s Supreme Leader on 4 June 1989. He succeeded Ayatollah Rudollah Khomeini, the first Supreme leader, after his death.
