Iran's new supreme leader, Mojtaba Khamenei, has spent his life in the shadows, rarely seen and rarely heard, save for his global network of assets worth millions of dollars. A ski resort in the Austrian Alps, luxury flats with servants in London, a golf and spa resort in Mallorca, and hotels in Frankfurt are among the assets linked to Khamenei globally, according to multiple media reports.
Yet as investigations into this hidden wealth multiply, Australian officials and security experts are raising a pointed question: what about here at home? It is unclear whether the new supreme leader or the regime has any assets in Australia, but experts warn "there is a risk". The concern matters because Khamenei succeeded his late father, Ayatollah Ali Khamenei, earlier this month after the former leader was killed in joint US-Israeli air strikes.
Anton Moiseienko is a senior lecturer in law at the Australian National University, whose work focuses on the legal and policy aspects of economic sanctions. He tells SBS News that authoritarian regimes will often operate through proxy networks to hide their investments. The complexity of detecting such networks matters because while the 56-year-old's net worth is not known, a list of publicly identified assets compiled by SBS News indicates it could be well into the hundreds of millions of dollars.
The Iranian Australian diaspora has also long raised concerns about the possibility of the regime holding assets in Australia. Rana Dadpour, a spokesperson for the Australian United Solidarity for Iran community group, says these concerns are now resurfacing with the appointment of Khamenei. There are many rumours turning around our community members, talking about IRGC members or their family members or people who are affiliated with IRGC or work with them, having assets, properties, and even businesses here in Australia, Dadpour tells SBS News.
What makes the concern credible is the documented infrastructure Khamenei uses abroad. Transparency International UK has identified more than £200 million ($378 million) worth of property in the United Kingdom bought by figures linked to the Iranian regime. Khamenei and Ansari have also been linked to a section of a building in Paris, which was offloaded in 2023, and a penthouse in Toronto's Four Seasons Private Residences, sold for US$7.7 million ($10.94 million) in 2020, according to Bloomberg.
The motivation for holding these assets abroad goes beyond luxury, experts argue. The regime's incentive for owning these assets is not just about living a luxurious life; it also represents a contingency plan. Economic stakeholders in the Iranian regime can continue to back the regime because they know that they've also got a plan B if that's what they want. This creates a perverse dynamic where the wealthiest figures in an economically struggling nation remain invested in maintaining the regime.
Australia's regulatory framework is tightening, though not yet in time to address existing vulnerabilities. From 1 July 2026, AML/CTF obligations will apply to certain services typically provided by real estate professionals, such as real estate agents, buyer's agents and property developers. Until now, Australia's real estate sector has operated without mandatory anti-money laundering screening. That gap has not gone unnoticed. According to reporting on the SBS podcast, Iranian real estate agent and founder of the Genesis Development Club Arash Jafari warns Australia's money laundering laws are too relaxed, and says customers who buy property under a trust could raise suspicion. Australia technically is a place to hide your assets.
A Department of Foreign Affairs and Trade (DFAT) spokesperson tells SBS News that sanctions law is designed to prevent designated individuals or entities, such as the IRGC, from acquiring or benefiting from Australian-based assets. The Iranian Revolutionary Guards Corps is Australia's designated terrorist sponsor. Yet detecting hidden ownership through shell companies and intermediaries, the method Khamenei reportedly uses, remains a persistent challenge for financial regulators everywhere.
The arrival of new safeguards in mid-2026 provides an opportunity for Australian authorities to screen the sector properly going forward. But it comes after years of potential exposure, and with the new supreme leader now firmly in control of Iran's state apparatus, questions about where his wealth is stashed remain unanswered.