Fantastic investigative piece by Reuters describing a secret fund entirely under Ayatollah Khamenei's control. Originally created to temporarily administer seized properties and redistribute the wealth through charity, Setad has grown over the years, continuing to seize real estate and accumulating into a secret slush fund entirely at Khamenei's disposal.
All told, Reuters was able to identify about $95 billion in property and corporate assets controlled by Setad. That amount is roughly 40 percent bigger than the country's total oil exports last year. It also surpasses independent historians' estimates of the late shah's wealth.
A complete picture of Setad's spending and income isn't possible. Its books are off limits even to Iran's legislative branch. In 2008, the Iranian Parliament voted to prohibit itself from monitoring organizations that the supreme leader controls, except with his permission.