Wealth
Mohammad Reza Shah Pahlavi inherited the wealth built by his father Reza Shah Pahlavi who preceded him as king of Iran and became known as the richest person in Iran during his reign, with his wealth estimated to be higher than 600 million rials and including vast amounts of land and numerous large estates specially in the province of Mazandaran obtained usually at a fraction of its real price. Reza Pahlavi facing criticism for his wealth decided to pass on all of his land and wealth to his eldest son Mohammad Reza in exchange for a sugar cube, known in Iran as habbe kardan. However shortly after obtaining the wealth Mohammad Reza was ordered by his father and then king to transfer a million tooman or 500,000 dollars to each of his siblings. By 1958 it was estimated that the value of all the companies possessed by the Shah, Mohammad Reza Pahlavi has a value of 157 million dollars (1958 USD) with an estimated additional 100 million saved outside Iran. The rumors and constant talk of his, and his family's corruption greatly damaged his reputation and lead to the creation of the Pahlavi Foundation in the same year and the return of some 2,000 villages inherited by his father back to the people often at very low and discount prices, however it can be argued that this was too little too late as the royal family's wealth and corruption can be seen as one of the factors behind the Iranian revolution in 1979. The Shah's wealth was even considerable during his time in exile. While staying in the Bahamas he offered to purchase the island that he was staying on for 425 million dollars (1979 USD), however his offer was rejected by the Bahamas claiming that the island was worth far more. On 17 October 1979 again in exile and perhaps knowing the gravity of his illness he split up his wealth between his family members, giving 20% to Farah, 20% to his eldest son Reza, 15% to Farahnaz, 15% to Leila, 20% to his younger son, in addition to giving 8% to Shahnaz and 2% to his granddaughter Mahnaz Zahedi.
Mohammad Reza Pahlavi was also known for his interest in cars and had a personal collection of 140 classic and sports cars including but not limited to a Mercedes-Benz 500K coupe, one of the only six ever made.
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Famous quotes containing the word wealth:
“Science, which cuts its way through the muddy pond of daily life without mingling with it, casts its wealth to right and left, but the puny boatmen do not know how to fish for it.”
—Alexander Herzen (1812–1870)
“Power is not of a man. Wealth does not center in the person of the wealthy. Celebrity is not inherent in any personality. To be celebrated, to be wealthy, to have power requires access to major institutions.”
—C. Wright Mills (1916–1962)
“What wealth is it to have such friends that we cannot think of them without elevation!”
—Henry David Thoreau (1817–1862)