World News

Mojtaba Khamenei, the son of late Iranian supreme leader Ali Khamenei who has been appointed as the new head of the Islamic republic, has amassed wealth estimated at more than $100 billion. Money from oil sales has been channelled into investments in luxury British real estate, hotels in Europe and property in Dubai.

...

The post links to a video. There is also a report by Bloomberg, How the Son of Iran’s Supreme Leader Built a Global Property Empire.

His financial power has embraced everything from Persian Gulf shipping to Swiss bank accounts and British luxury property worth in excess of £100 million ($138 million), say the people, who requested anonymity for fear of retribution or because they’re not authorized to speak publicly. Together, the web of firms has helped Khamenei to channel funds — by some estimates in the billions of dollars — into Western markets, despite US sanctions imposed on him in 2019.

That includes prime real estate — one house cost £33.7 million when it was bought in 2014 — in several of London’s most exclusive neighborhoods, a villa in an area dubbed the “Beverly Hills of Dubai” and upscale European hotels from Frankfurt to Mallorca. Funds for the transactions have been routed through accounts at banks in the UK, Switzerland, Liechtenstein and the United Arab Emirates, according to documents seen by Bloomberg and people familiar with the matter. The funds originate primarily from Iranian oil sales, the people said ...