Yildiz Holding's chairman Murat Ulker, Turkey's largest food producer, is the richest person in the country with a fortune of US$4.4 billion, Forbes magazine revealed on Tuesday.
Ulker was the richest person in 2014 as well. The business magazine said Ulker increased his wealth by US$700 million since last year.
In recent years, Ulker’s company has grown through acquisitions of international firms. Most recently, the Turkish company took over U.K.-based snacks maker United Biscuits in a deal which made headlines across Turkey.
Fiba Holding boss, Husnu Ozyegin, came in second with a US$2.7 billion fortune. Semahat Arsel from Koc Holding – the richest woman on the list – was third with US$2.6 billion.
“We calculated a person’s fortune through his/her shares in companies. Also, we added cash money, real estate and artwork they have into a person’s wealth,” Burcak Guven, Forbes’ Turkey editor-in-chief said.
Some of Turkey’s richest people lost their spot when compared to 2014’s rich list. Sarik Tara, the founder of Turkey's largest construction company ENKA, slipped to sixth in the list in 2015 although he was the second richest person in 2014. Forbes said the reason is that Tara’s company has lost value on Istanbul’s stock market.
Many Turkish people in the list have investments in the real estate and energy sectors.
There are 24 women in the richest person list.
The figures reveal an increase in total wealth of the 100 richest people in Turkey from US$92.8 billion in 2014 to US$100.4 billion in 2015.