IRAN’s newly appointed supreme leader, Mojtaba Khamenei, is believed to preside over a vast international investment network that spans multiple countries and sectors, according to individuals familiar with the matter and an assessment by a Western intelligence agency.
On a leafy street in north London known as ‘Billionaire’s Row,’ a number of lavish mansions sit quietly behind tall hedges and fortified gates. Security vehicles patrol the area as schoolchildren pass by, unaware that several of the properties are linked through complex ownership structures to one of the Middle East’s most powerful figures, NDTV reported.
Records and interviews reviewed by Bloomberg indicate that the ownership of some luxury homes along The Bishops Avenue ultimately traces back through a chain of shell companies to Mojtaba Khamenei. The 56-year-old cleric rarely places assets directly in his name but has allegedly played a role in transactions dating back to at least 2011, according to people with knowledge of the dealings.
His financial reach spans multiple industries, including Persian Gulf shipping, European hotels, Swiss banking accounts and high-end British real estate valued at more than $138 million. Sources said the network has enabled billions of dollars to flow into Western markets despite sanctions imposed by the United States in 2019.
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Among the properties connected to the network are luxury homes in some of London’s most exclusive districts, including one purchased for €33.7 million in 2014. The portfolio also includes a villa in an elite Dubai neighbourhood often referred to as the ‘Beverly Hills of Dubai,’ as well as upscale hotels in locations such as Frankfurt and Mallorca.
Financial records and documents reviewed by Bloomberg show that funds for these acquisitions moved through banking channels in the United Kingdom, Switzerland, Liechtenstein and the United Arab Emirates (UAE). According to people familiar with the transactions, the money largely originated from Iranian oil sales.
None of the documents examined directly list Mojtaba Khamenei as the owner of the assets. Instead, several of the properties and companies appear under the name of Iranian businessman Ali Ansari, who was sanctioned by the United Kingdom in October.
Contrasting lifestyle
Iranian state media frequently portrays the country’s leadership as living modestly, consistent with the ideals of the 1979 revolution that overthrew the monarchy in the name of social justice and Islamic values. However, the reported overseas holdings linked to the younger Khamenei contrast with that image, particularly as Iran faces rising poverty and periodic protests.
Public anger over corruption within the political elite has often been directed at the so-called ‘aghazadeh,’ a derogatory term used for children of powerful officials who are accused of accumulating wealth through family connections.
The findings form part of a year-long Bloomberg investigation based on interviews with individuals familiar with Mojtaba Khamenei’s finances, along with reviews of corporate records, property filings, banking transfers and hotel management agreements. Western intelligence assessments cited in the report also describe Ali Ansari as a key figure facilitating several of the transactions.
Although widely viewed as influential within Iran’s political establishment and closely connected to the Islamic Revolutionary Guard Corps, Mojtaba Khamenei has largely remained outside the public spotlight even as his influence has expanded.
The alleged overseas investments also illustrate how individuals connected to Iran’s leadership have managed to move capital abroad despite decades of sanctions tied to the country’s nuclear programme and regional activities. Experts say weaknesses in global financial transparency, including limited beneficial-ownership disclosure and uneven enforcement of sanctions, have allowed such networks to operate.
Key intermediary
Senior Fellow at The Washington Institute for Near East Policy, Farzin Nadimi, said analysis of the financial structures suggests that Ansari acts as a key intermediary.
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“Ali Ansari appears to function as the primary account holder within the network,” Nadimi said. “That effectively makes him one of the most powerful business figures connected to the system.”
Through his lawyer, Ansari denied having any financial or personal relationship with Mojtaba Khamenei and said he intends to challenge the UK sanctions imposed on him. Khamenei did not respond to requests for comment sent via Iran’s foreign ministry and its embassies in the UAE and the UK.
Iran’s foreign ministry, the US Treasury Department, the European Union and authorities in the UAE also did not respond to requests for comment. The UK Foreign Office said it does not disclose details relating to individual sanctions cases.
