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In Less Than Two Minutes, Learn How the Islamic State Makes More Than $1 Billion a Year

From taxation and oil to ransoms and donations, the terror organization rakes in millions of dollars every year.

Supporters of the Islamic State carry the terror group's flag. (AP Photo)

Every year, the Islamic State brings in more than $1 billion in revenue, making it not only one of the fastest-growing terror threats but also one of the wealthiest in the world.

From taxation and oil to ransoms and donations, the terror organization rakes in millions of dollars every year. In fact, according to a recent report from the U.K. Treasury, the Islamic State has raised $45 million in ransoms this year alone and al Qaeda has raised $125 million in ransoms since 2008.

However, due to the large swath of territory the Islamic State controls, taxation is by far the organization's biggest money maker, with oil coming in second.

The Islamic State levies import taxes, business rent, fines, utility bills and income taxes on any residents who occupy land the radical group has seized, according to the report. The Islamic State is estimated to make at least $900 million from taxation alone.

In addition, the Islamic State controls the oil in the territory they've usurped in both Iraq and Syria, which boasts a profit of at least $600 million — or $50 million per month. The Financial Times has dubbed the terror network's oil trade "a sprawling operation almost akin to state a oil company," despite "international attempts to destroy it."

In addition to all of its most prosperous means of income, the Islamic State also benefits from donations from around the world. According to the U.K. Treasury's report, donations from the Gulf region are a "vital funding stream" for Al Qaeda and its affiliate groups.

Watch how the Islamic State makes their money:

(H/T: Business Insider)

Follow Tré Goins-Phillips (@tregp) on Twitter

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