Name Asadollah Asgaroladi | Siblings Habibollah Asgaroladi | |
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Children Amir Ali Asgaroladi, Reza Asgaroladi Similar People Habibollah Asgaroladi, Hossein Sabet, Mehrdad Oladi, Hossein Hedayati, Asadollah Lajevardi | ||
Asadollah Asgaroladi is a business magnate in Iran with business interests in exports, banking, real estate and healthcare. He is the richest person in Iran, with a net worth of $9 billion.
Life
Asgaroladi was born to a merchant family. His ancestors converted from Judaism to Shia Islam. Asgaroladi is amongst the world's wealthiest Iranians, and was named the third richest Iranian in the world and is the second wealthiest in Iran, with an estimated wealth in excess of $9 billion. His business empire dates back to the 1970s and, since then, Asgaroladi has become one of the leading exporters of dried fruits, nuts and spices from Iran. Asgaroladi is the president of Hasas Co. which is the leading exporter of nuts and pistachios from Iran since 1953.
Asgaroladi increased his wealth dramatically in the 90's when there were two official exchange rates for the US dollar. Those with trade license could obtain the lower exchange rate of 1750 rials but the market value of US dollars was at 8000 rials. During this period his brother Habibollah Asgaroladi was the commerce minister responsible for handing out trade licenses to obtain the lower exchange rate. He used his connections to obtain large quantities of US dollars at low exchange rate and resold them at the market value price for a profit of more than 300%.
Asgaroladi is a well known member of the Iranian business community (his brother was Minister of Commerce for many years) and he currently holds the Presidency of several international Chambers of Commerce including the Iran-China, Iran-Australia, Iran-Russia and Iran-Canada Chambers of Commerce.
Asgaroladi has been reported as being in negotiations to purchase Iran Air / "Homa", Iran's heavily national carrier and has been quoted in media sources as wishing to acquire the Tehran International Trade and Exhibition Centre, a vast conference and exhibition centre in northern Tehran. He also owns a majority stake in three retail Chinese banks. Asgaroladi has on numerous occasions proposed setting up an Iran-China bank.
According to Forbes Magazine, Asgaroladi was the business partner of US-Israeli billionaire and fugitive Marc Rich in helping bypass U.S. sanctions against Iran after the Iranian revolution.