From Soldiers to Tycoons: How Iraq’s Militias Turned Into Business Giants
Hudhaifa Ebrahim’s detailed report explores how Iran-backed militias in Iraq have pivoted away from their former roles as military forces for Iran’s Revolutionary Guard toward becoming powerful business empires. This shift has been largely driven by US sanctions imposed on Iran and its affiliates, which have limited the flow of funds to these militias. The leaders of these groups, once active in executing Iran’s regional agenda, are now more focused on building and protecting their economic interests, securing significant wealth through various ventures.
Many of these militias were initially formed under the Popular Mobilization Forces, a paramilitary group created to combat the Islamic State in Iraq. However, since the assassination of Iranian military leader Qasem Soleimani in 2020 by the US, some of the most prominent militias have remained inactive in direct combat. Figures like Hadi al-Amiri, leader of the Badr Organization, and Qais Khazali of Asa’ib Ahl al-Haq have turned their attention to business, amassing fortunes in the billions and investing in sectors such as banking, real estate, and retail. Al-Amiri, for instance, controls vast economic interests across Baghdad and southern Iraq, including shopping malls and partnerships with major banks.
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In contrast, Kata’ib Hezbollah, trained by Hezbollah in Lebanon, continues to engage in military activities, launching over 150 operations since the beginning of the Israel-Hamas conflict. However, the larger trend has been for these militias to prioritize economic ventures over warfare. These leaders now protect their business interests with the same militancy once reserved for combat. They use their militias to enforce control over their territories and extort funds from residents and businesses.
Despite this shift, some analysts, including retired general Hamed Mohammadi, argue that these militias never truly fought for principles. Instead, they now act as mercenaries, prioritizing personal wealth over ideology. Ebrahim’s article concludes by highlighting the possibility that these groups, though appearing to have distanced themselves from Iran, may still be sending funds back to Tehran, indirectly supporting Iranian-backed groups such as Hezbollah and the Houthis in Yemen. For more insights on how these militia leaders have transformed into billionaires, read the full article by Hudhaifa Ebrahim.
