04.06.2026 10:21
The rapid acceleration in Astor Energy shares traded on Borsa Istanbul has shaken up the balance in Turkey's billionaire league. According to Forbes data, Astor Energy Chairman Feridun Geçgel, whose personal wealth increased by $711 million daily to reach $5.3 billion, has surpassed long-time leader Murat Ülker to become Turkey's richest businessperson.
The title of Murat Ülker, who has long held the top spot in Turkey's richest list, has changed hands. According to Forbes' latest billionaire list, Feridun Geçgel, a businessperson from Şanlıurfa and owner of Astor Enerji, one of the domestic giants in the energy sector, has become the new owner of the peak with a fortune of $5.3 billion.
POSITIVE DIVERGENCE IN THE STOCK MARKET BROUGHT THE PEAK During a period of general stagnation and downward trend in Borsa Istanbul, Astor Enerji shares stood out by diverging positively from the market. The company, which carried its upward trend from May into June, has gained approximately 15% in value over the past month. This strong performance in the company's shares added $711 million to Geçgel's personal wealth in just one day.
Feridun Geçgel ROSE TO 803RD PLACE IN THE GLOBAL LIST As Feridun Geçgel settled at the top of the Turkey list, he also made a significant leap in Forbes' global billionaire ranking, rising to 803rd place. It is noted that the main catalyst behind this financial rise was the large-scale international business agreement that the company reported to the Public Disclosure Platform (KAP) at the end of April.
SUCCESS STORY FROM $3 MILLION TO THE PEAK This success story of Astor Enerji, now among Turkey's largest manufacturers of transformers and electrical equipment, is based on a remarkable entrepreneurship tale. In 2005, Feridun Geçgel bought Astor Transformatör for just around $3 million. Over time, strategic investments transformed the company into a multi-billion dollar industrial giant, elevating its owner to the position of Turkey's richest person.