MURAT ULKER DETHRONED AS TURKEY’S RICHEST MAN
Erman Ilicak, the head of Turkish construction giant Ronesans, claimed the throne of as the richest man in Turkey. According to Forbes Billionaires Real Time Ranking on February 29, Ilicak, 51, dethroned Murat Ulker, chairman of Turkey’s largest food producer, Yildiz Holding, with a fortune of $3.8 billion.
Husnu Ozyegin and Osman Kibar shared third place with $2.1 billion. This year, Turkey fielded 11 billionaires in Forbes 100 for the first time, after the three that fell from the list in previous years returned.
The wealth of Forbes Turkey 100 list totaled $99.9 billion. The number of billionaires in the list fell to 29, down from 40 last year. There was a $21.5 billion decrease in the total fortune of the billionaires while the wealth of 101 of the 119 people decreased.
Among the names holding $6.1 billion of the total wealth are the inheritors of Sarik Tara and Erdogan Demiroren, who died last year, and the twin daughters of Mustafa Koc, who passed away in 2016. Mustafa Koc’s daughters, Esra Koc (22), and Aylin Koc (18) were the first members from the fourth generation who are shareholders in the Koc Group of companies. The siblings, on the other hand are the youngest names in the history of Forbes 100.
Six of the 29 billionaires in dollar terms (Osman Kibar, Melih Abdulhayoglu, Suat Gunsel, Hamdi Ulukaya, Eren-Fatih Ozmen) acquired their wealth entirely from the companies they founded in Turkey. One thing common in the top 10 names is that they have companies abroad and have foreign exchange revenues.
The list featured 28 women holding 19.7 percent of total wealth of the 100 richest people in Turkey. Semahat Sevim Arsel, Turkish conglomerate Koc Holding’s board member, is the richest woman in the country, at $2 billion.