He became one of the wealthiest businessmen in the country, and during 1943, he hosted U.S. President Franklin Roosevelt, U.K. Prime Minister Winston Churchill, and Soviet leader Joseph Stalin in his apartment during the critical Tehran Conference, where the three world leaders discussed the final stages of World War II and planned their path to victory.
By the mid 1960s, the business included 16 stores across North America, and was the largest importer of oriental rugs to the United States.
The family acquired vast quantities of farm land surrounding Edmonton in the hope of finding oil, but their search proved unsuccessful.
The four sons, Eskandar, Nader, Raphael and Bahman, grew the family rug business into a large real estate and construction company.
[6] In 2018, the family got the green light to start the construction of America Mall Miami, planned to become the country's largest shopping center.