The Islamic Revolutionary Guard Corps has built a sprawling business empire that dominates Iran's economy, controlling sectors from oil to telecommunications. Following Supreme Leader Ali Khamenei's death in a U.S.-Israeli airstrike, the IRGC has emerged as a potential source of new leadership while conducting military operations in the Strait of Hormuz.

This military-industrial complex began after the 1979 revolution as a paramilitary force but evolved into a diversified conglomerate. The IRGC uses affiliates like Khatam al-Anbiya engineering firm to build infrastructure including refineries, railways, and dams. Its network of foundations operates as semiprivate monopolies controlling everything from Tehran's international airport to major industrial sectors.

According to the Clingendael think tank, these IRGC-affiliated foundations accounted for more than half of Iran's GDP in 2013. Western sanctions, rather than weakening the IRGC's grip, have actually helped consolidate its control under the guise of "economic resistance." The organization has expanded into covert activities including cryptocurrency use and oil smuggling to evade sanctions, while also engaging in illicit trade of alcohol, narcotics, weapons, and tobacco.