02.01.2026 12:44
The world-renowned magazine Forbes updated its list of Turkey's richest businesspeople with the end of 2025. Murat Ülker maintained his top position with a fortune of 5.3 billion dollars, while Cemil Kazancı secured the second place with 4.9 billion dollars. Selçuk Bayraktar experienced a wealth loss for the first time, dropping to 1.7 billion dollars, and İbrahim Erdemoğlu, who was at the top of the 2023 list, fell to 1.4 billion dollars, exiting the top 20.
Forbes updated its billionaire list with the end of 2025. The list includes many names from the Turkish business world, and the title of Turkey's richest businessman has not changed this year.
THE TOP SPOT IN THE LIST MAY CHANGE HANDS
Board member of Yıldız Holding, Murat Ülker, maintained his position at the top with a fortune of 5.3 billion dollars. He was followed by Cemil Kazancı, the Chairman and CEO of Kazancı Holding, with 4.9 billion dollars. Kazancı's reduction of the gap with Ülker has strengthened comments that the top spot in the list may change hands in the upcoming period.
DECLINE IN BAYRAKTAR'S ASSETS
In the current list, Selçuk Bayraktar, the Chairman of Baykar Technology, also appeared with a fortune of 1.7 billion dollars. Compared to his fortune of 1.8 billion dollars announced last year, it was observed that Bayraktar experienced a decline in his assets for the first time, with a decrease of 100 million dollars. Following Bayraktar, Haluk Bayraktar, the CEO of Baykar Technology, maintained his position from last year with a fortune of 1.6 billion dollars.
WAS AT THE TOP IN 2023, NOW OUT OF THE TOP 20
On the other hand, one of the most striking declines in recent years occurred with İbrahim Erdemoğlu. In the 2023 list, İbrahim Erdemoğlu, the Chairman of Erdemoğlu Holding, was in the first place with 5.3 billion dollars, but his fortune has declined to 1.4 billion dollars. With this decline, Erdemoğlu has fallen out of the top 20 wealthiest individuals in Turkey. It was noted that a significant portion of Erdemoğlu's losses stemmed from the price drops in the shares owned by the company that are traded on Borsa İstanbul.