The Richest Individuals in Turkey: Who Leads the Wealth Rankings?
The world of Turkey's wealthy has seen significant changes in the past few years. In 2020, business magnate Murat Ulker rose to the top spot, displacing Erman Ilcak, the chairman of Turkish construction giant Renasans. As of 2020, Ulker's personal wealth was valued at 4.7 billion, securing his position as the richest person in the country.
Murat Ulker and His Empire
Murat Ulker, with his current wealth of 4.4 billion USD, is listed as the 369th richest person in the world by Forbes. He is the chairman of Y?ld?z Holding, a conglomerate that grew from humble beginnings. Founded by his father Sabri Ulker, who fled Crimea in 1944 to escape communism, the company has since expanded its business scope, specializing in fast-moving consumer goods. These include well-known brands such as Ulker biscuits, chocolate, baby food, and Godiva chocolate, in the UK. In addition, Y?ld?z Holding is involved in real estate investments, frozen food, packaging, and even owned a beverage company distributing cola juices.
The Rise of the Erdogan Family
The rise of Turkey's political leaders into the business world has been a subject of intense scrutiny. Starting with Recep Tayyip Erdogan, the current President, who famously declared himself broke when entering politics in 2003. His recent net worth is estimated to be in the hundreds of millions or billions, a story he has increasingly linked to his son's financial contributions.
Investigations into Recep Erdogan’s Family Wealth
In 2016, Der Spiegel (Bild) conducted an investigation revealing that Erdogan's son, Ahmet Erdogan, reportedly had a net worth of 80 million Euros without any clear source. They also reported that Erdogan's youngest son, Bilal Erdogan, frequently appeared in public without a clear background, sparking further inquiries. More detail emerged from a 2017 European news outlet named Euronews, which disclosed that the Erdogan family controlled at least three trusts on the Isle of Man and that the family also controlled 25 million Euros worth of oil assets. In 2018, Erdogan appointed himself as the head of Turkey's 40 billion dollar sovereign wealth fund. His son-in-law, Berat Albayrak, serves as his deputy in the fund in addition to being the nation's Finance Minister and Oil Minister.
Other Notable Richest Families in Turkey
Besides Murat Ulker and the Erdogan family, other wealthy families in Turkey include the Koc family, the Sabanci family, and the Ozyegin family. While many of these families have made their fortunes through long and hard work, the backgrounds of others remain a mystery, often not openly discussed in polite society.
Concluding Thoughts
The world of Turkey's wealthy is complex and multifaceted. From business magnates like Murat Ulker to political figures like Recep Erdogan who have transitioned from the political arena into the business world, the line between politics and business in Turkey is often blurred. These individuals and their wealth continue to shape the economic landscape of the country.
Keywords: richest man in turkey, Murat Ulker, Erdoan Family Wealth