Turkey, with its billionaires predominantly residing in Istanbul and Ankara, exhibits a diverse wealth spectrum with strong presences in manufacturing, food & beverage, and diversified investments. İbrahim Erdemoglu, leading with a net worth of $5.6 billion from the carpet manufacturing industry, epitomizes the blend of traditional and modern sectors contributing to the wealth of Turkey’s ultra-rich. This reflects the dynamic and multifaceted nature of the Turkish economy.
How many billionaires are in Turkey?
Turkey is home to 27 billionaires in 2025, with the majority of them located in Istanbul. There are 24 billionaires in Istanbul, while the capital city of Ankara is home to 3.
Top 5 Billionaires in Turkey 2025
Who has the highest net worth in Turkey?
1. İbrahim Erdemoglu
Ibrahim Erdemoglu was born in 1962 and is a self-made male billionaire with a net worth of $5.6 billion in 2025, ranking him at 485 in terms of wealth worldwide. His business operates in the Manufacturing and Carpet industries, and his source of wealth is Manufacturing. Recently, Erdemoglu has expanded his carpet business into sustainable and eco-friendly production methods, gaining international recognition for environmental initiatives.
2. Murat Ulker
Murat Ulker, born in 1959, is a male, non-self-made billionaire with a net worth of $5.3 billion in 2025, ranking 510th in the world. His primary source of wealth is the Food & Beverage industry, while his business interests span across both Food and Food & Beverage industries. Ulker has recently invested heavily in plant-based food products and has become a key player in Turkey’s growing alternative protein market.
3. Ali Erdemoglu
Ali Erdemoglu, born in 1959, is a self-made male billionaire with a net worth of $4.9 billion in 2025. Ranked 565th in the world, Erdemoglu’s wealth is sourced from manufacturing carpets and is associated with the manufacturing industry. He has also diversified his portfolio by investing in renewable energy projects within Turkey.
4. Semahat Sevim Arsel
Semahat Sevim Arsel was born in 1928 and is a female non-self-made billionaire. In 2025, her net worth is estimated to be $3.2 billion, ranking her 950th in the world. Her wealth is sourced from a diversified portfolio of investments in multiple industries. She continues to play an active role in philanthropy, focusing on education and women’s empowerment initiatives across Turkey.
5. Ipek Kirac
Ipek Kirac was born in 1984 and is a female, non-self-made billionaire. She is ranked 1005th in the world in terms of wealth in 2025 with a final net worth of $3.1 billion. Her wealth is sourced from a diversified portfolio of industries, including investments in real estate, banking, and media. Kirac has recently launched a digital media startup aimed at empowering young entrepreneurs in Turkey.
Sources:
Forbes Billionaires List 2025
Bloomberg Billionaires Index 2025
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