How the Son of Iran’s Supreme Leader Built a Global Property Empire
In the heart of Iran’s political and religious establishment, Mojtaba Khamenei stands as a figure of considerable influence. At 56 years old, the second-eldest son of Supreme Leader Ayatollah Ali Khamenei is a mid-ranking cleric often viewed as a potential successor to his father. While he maintains a relatively low public profile, a year-long investigative report by Bloomberg has revealed that Mojtaba has quietly orchestrated a sprawling international property and investment network valued in the billions of dollars.
This empire, built amid one of the world’s most stringent sanctions regimes, stands in stark contrast to the Iranian regime’s public rhetoric of austerity and modesty. As economic hardship, soaring inflation, and widespread protests have gripped Iran—resulting in some of the deadliest anti-government unrest in decades—Mojtaba’s alleged overseas holdings highlight a profound disconnect between the elite and ordinary citizens.
According to the Bloomberg investigation, which draws on Western intelligence assessments, insider accounts, real estate records, and confidential documents, no properties or assets are registered directly in Mojtaba Khamenei’s name. Instead, ownership is concealed through multiple layers of shell companies and trusted intermediaries. These entities are registered in secrecy-friendly jurisdictions, including the United Arab Emirates, the Isle of Man, Saint Kitts and Nevis, Liechtenstein, Switzerland, the United Kingdom, and others.
The portfolio spans luxury real estate and high-value investments across several continents. In London, some of the world’s most exclusive neighborhoods feature prominently, with properties collectively valued at more than £100 million (approximately $138 million). One notable acquisition reportedly occurred in 2014, when a home was purchased for around £33.7 million (equivalent to about $46.5 million at the time), located in an area sometimes referred to as “Billionaire’s Row” or near The Bishops Avenue—enclaves known for ultra-wealthy residents.
Beyond the UK, the network includes a luxury villa in an elite district of Dubai, often likened to the “Beverly Hills of Dubai.” Upscale hotels and other properties are said to extend into Europe, with mentions of holdings in Frankfurt, Germany, and Mallorca, Spain (including a golf resort in some coverage). Broader investments reportedly reach into Persian Gulf shipping operations and Swiss bank accounts, forming a diversified web of assets.
The funding for these acquisitions primarily stems from Iranian oil sales, a revenue stream heavily targeted by international sanctions over Iran’s nuclear program and regional activities. Proceeds are allegedly routed through opaque financial channels involving banks in the UK, Switzerland, Liechtenstein, the UAE, and elsewhere. Shell companies such as Ziba Leisure Ltd., Birch Ventures Ltd., and various Emirati entities have been linked to these transactions, helping to obscure the ultimate beneficiary.
Evidence suggests Mojtaba’s direct involvement in deal-making dates back to at least 2011. Western intelligence and the reviewed documents point to his central role in directing the network, even as he avoids personal exposure.
This arrangement has enabled the channeling of substantial funds—potentially billions—into Western markets despite U.S. sanctions imposed on Mojtaba personally since 2019. The revelations underscore how elements of Iran’s ruling elite have navigated global restrictions to secure wealth abroad, while domestic challenges persist.
The Iranian government has not publicly confirmed or addressed the specifics of the Bloomberg report, and the claims remain based on investigative journalism and intelligence sources. As speculation continues about succession in Iran’s leadership, the extent of Mojtaba Khamenei’s financial reach adds another layer to discussions about power, privilege, and accountability in the Islamic Republic.
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