Turkey steps up among countries with most billionaires
Posted by meb at February 28th, 2008
The number of Turkey’s billionaires increased by 13 people in 2007 to 36, surpassing the United Kingdom on the list of countries with the most billionaires.
India and Turkey are now tied for fourth place on Forbes Turkey’s list, published on Tuesday. Topping the list is the United States in first place with its 432 billionaires. Germany is second, with 55 billionaires, and Russia is a close third, with 53 of its richest people able to boast assets of $1 billion or more.
The recent study released by the monthly Forbes Turkey periodical reports that Turkish billionaires steer $61.2 billion in total personal wealth. The top 106 richest Turks, including millionaires, increased their wealth by 31 percent to $111.8 billion in 2007 compared to the previous year. According to the Forbes study, the richest person in Turkey was Çukurova Holding Chairman Mehmet Emin Karamehmet who possessed $4.3 billion in personal assets. Enka Holding owner Şarık Tara followed Karamehmet with $4.1 billion and Fiba Holding boss Hüsnü Özyeğin ranked third with $4 billion in personal wealth. In 2006 there were 23 billionaires in Turkey, with a combined total wealth of $37 billion.
This year’s list of Turkish billionaires brought along some surprises. Kibar Holding Chairman Asım Kibar was widely expected to make the list, but his assets fell short of the billion-dollar mark. Many expected to see the names of Erol Sabancı and Ömer Sabancı, two prominent members of Turkey’s wealthiest tycoon family, but the two didn’t make the cut — nor did relatives Suzan Sabancı Dinçer and Çiğdem Sabancı.
The Sabancı family is nevertheless represented with 14 people in the top 100 list, controlling a total $11.3 billion in assets. The Koç family, which commands the largest industrial conglomerate in Turkey, is represented with seven people who own a combined total $9.6 billion.
Newcomers to the billionaire’s club included Çalık Holding Chairman Ahmet Çalık, the new owner of the Sabah ATV media group. His worth of $914 million in 2006 increased to $1.5 billion in 2007. The fastest entry to the billionaires club was accomplished by Rönesans Construction owner Erman Ilıcak, who piled up a massive fortune from major construction projects in Russia. He possessed a total $711 million in 2006, but last year his fortune surged 139 percent to $1.7 billion.
The Forbes study also revealed that 17 families control 60 percent of the total wealth of the richest 100 people in Turkey.
source: Today’s Zaman
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