Tuncay Kayaoğlu
February 29, 2016•Update: March 01, 2016
ISTANBUL
Some of Turkey’s richest people – while still commanding multi-billion-dollar fortunes – have seen significant declines in their wealth over the last few years.
Yildiz Holding's chairman Murat Ulker, Turkey's largest food producer, remains the richest person in the country with a fortune of US$2.9 billion, Forbes magazine revealed on Monday.
Although Ulker was also Turkey’s richest person in 2014 and 2015 his fortune last year was given as $4.4 billion.
The business magazine said the losses were mainly due to exchange difference and his firms’ losses on the Istanbul Stock Exchange.
These reasons were also behind the loss of total wealth among Turkey’s 100 richest, according to the magazine.
The figures reveal a decrease of $6 billion in total wealth of the 100 richest people in Turkey.
Overall, the 100 richest people in Turkey have $94.7 billion but this figure was $100.4 billion in 2015.
In the Forbes 100, Fiba Holding boss, Husnu Ozyegin, came in second with a $2.6 billion fortune.
Ferit Sahenk, chairman of Dogus Holding, was third with $2.4 billion.
The magazine calculates a person’s fortune through his/her shares in companies and cash money, real estate and artworks.
In recent years, Ulker’s company has grown through the acquisitions of international firms.
Many Turkish people in the list have investments in the real estate and energy sectors.
There are 21 women in the richest person list. The wealthiest is Semahat Arsel from Koc Holding with a fortune $2.2 billion.
“This year was very interesting. We see significant decreases, increases and new names. Overall, it was very mixed,” Burcak Guven, Forbes’ Turkey editor-in-chief said.
There are also new billionaires on the list.
Mustafa Kucuk, the shareholder of LC Waikiki, a ready-to-wear clothing firm in Turkey, has a $2.2 billion fortune.
Names of the first 25 in the 'richest 100 Turks' by Forbes are as follows:
Rank | Name | Company | Wealth in 2016
(US$-million) | Wealth in 2015
(US$-million) |
1 | Murat Ulker | Yildiz Holding | 2,900 | 4,400 |
2 | Husnu Ozyegin | Fiba Holding | 2,600 | 2,700 |
3 | Ferit Sahenk | Dogus Holding | 2,400 | 2,500 |
4 | Semahat Arsel | Koc Holding | 2,200 | 2,600 |
5 | Erman Ilicak | Ronesans Holding | 2,000 | 2,200 |
5 | Mustafa Kucuk | LC Waikiki | 2,000 | 450 |
5 | Rahmi Koc | Koc Holding | 2,000 | 2,500 |
5 | Sarik Tara | Enka Construction | 2,000 | 2,400 |
9 | Hamdi Ulukaya | Chobani Yoghurt | 1,800 | 1,350 |
9 | Suna Kirac | Koc Holding | 1,800 | 2,200 |
11 | Filiz Sahenk | Dogus Holding | 1,500 | 2,200 |
12 | Bulent Eczacibasi | Eczacibasi Holding | 1,400 | 1,450 |
12 | Faruk Eczacibasi | Eczacibasi Holding | 1,400 | 1,400 |
14 | Ahmet Calik | Calik Holding | 1,300 | 1,400 |
14 | Ahmet Nazif Zorlu | Zorlu Holding | 1,300 | 1,400 |
14 | Mehmet Ali Aydinlar | Acibadem | 1,300 | 1,300 |
14 | Nihat Ozdemir | Limak Holding | 1,300 | 900 |
14 | Sezai Bacaksiz | Limak Holding | 1,300 | 900 |
14 | Turgay Ciner | Park Holding | 1,300 | 1,250 |
20 | Ali Agaoglu | Agaoglu Construction | 1,200 | 1,750 |
20 | Sefik Yılmaz Dizdar | LC Waikiki | 1,200 | |
22 | Mehmet Nazif Gunal | MNG Holding | 1,100 | 1,200 |
22 | Mustafa Latif Topbas | Bim | 1,100 | 1,350 |
22 | Suat Gunsel | Near East University | 1,100 | 1,100 |
25 | Deniz Sahenk | Dogus Holding | 1,000 | 1,250 |
25 | Fatma Tuba Yazici | Diler Holding | 1,000 | 1,000 |
25 | Hamdi Akin | Akfen Holding | 1,000 | 500 |
25 | Mehmet Rustu Basaran | Habas | 1,000 | 1,200 |
25 | Murat Vargi | MV Holding | 1,000 | 1,000 |
25 | Sinan Tara | Enka Construction | 1,000 | 1,200 |
25 | Sevket Sabancı | Esas Holding | 1,000 | 1,050 |
