Setad / EIKO — the Supreme Leader's financial empire

A parastatal conglomerate reporting directly to Iran's Supreme Leader, built substantially on confiscated property.

How to read this Every claim below is labelled by evidentiary strength. Documented = primary document or multiple credible outlets. Official sanction = a government designation exists — a designation, not a court conviction. Estimated = a credible estimate (estimator named). Alleged / contested = reported but disputed or unproven.

Estimated

Reuters estimated Setad/EIKO's total holdings at roughly $95 billion (about $52bn in real estate and ~$43bn in corporate stakes) — the outlet's own calculation, which Khamenei's office disputed.

Sources: Reuters, "Assets of the Ayatollah" (Stecklow, Dehghanpisheh & Torbati), Nov 2013

Official sanction

The US Treasury (OFAC) designated EIKO and a network of ~37 associated front companies on 4 June 2013 under Executive Order 13599, describing it as holding assets for Iran's leadership.

Sources: US Treasury/OFAC recent action, 4 June 2013 • Executive Order 13599

Official sanction

OFAC re-designated EIKO, its sister foundation Astan Quds Razavi, their leaders and 16 subsidiaries in January 2021 under Executive Order 13876.

Sources: US Treasury/OFAC, 13 January 2021

Documented

Reuters documented that Setad accumulated assets substantially through the systematic confiscation of thousands of properties from ordinary Iranians, religious minorities (notably Baha'is), dissidents and expatriates.

Sources: Reuters, "Assets of the Ayatollah", 2013 • Baha'i International Community (property-confiscation reporting)

See the linked entity profile →

Editorial note. Artesh reports designations, estimates and allegations by their evidentiary strength and never presents a sanction as a conviction or an estimate as an audited figure. Corrections are made promptly; if you can add or correct a sourced fact, contact us.

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