In this article, for the first time, an efficient multiwavelength fiber laser based on a Tm:Er:Yb:Ho co-doped germanate glass, optically pumped at 980 nm wavelength and simultaneously emitting at 1550 nm, 1800 nm and 2050 nm wavelengths, is designed and optimized. An exhaustive model, taking into account the energy transfer phenomena between different rare earths, is developed. The device behavior is investigated by means of several parametric sweeps with respect to the input pump power, the fiber length, the dopant concentrations and the output mirrors reflectivities. Four optimal concentrations have been found by means of a home-made computer code based on particle swarm optimization (PSO) approach, allowing a global solution search. These concentrations allow levels of output powers very close to each other, equal to 20 mW ± 0.1% at 1550 nm, 1800 nm and 2050 nm, respectively. These results predict the possibility of tailoring the dopant concentrations in order to construct broadband optical sources with similar emission powers at multiple wavelengths and broadband amplifiers.