28.04.2026 15:01
Following Astor Enerji's $51.5 million deal with the US, the rise in shares increased the wealth of the company's owner, Feridun Geçgel, to over $3.5 billion, making him the 4th richest person in Turkey.
Astor Enerji signed a contract with a company operating in the USA for the supply of power transformers totaling $51.5 million.
9 TRANSFORMERS TO BE DELIVERED TO THE USA
Under the agreement, it is planned to deliver 9 power transformers with capacities ranging from 150 MVA to 286 MVA. Deliveries are expected to be completed by the first quarter of 2029.
SHARES ROSE, WEALTH INCREASED
Following the contract, Astor shares gained approximately 30% in value in a short period. This increase directly reflected on the wealth of the company's Board Chairman, Feridun Geçgel. According to Forbes' real-time billionaires list, Geçgel's wealth exceeded $3.5 billion as of April 28, 2026.
ENTERED TURKEY'S RICHEST
Geçgel, who ranked 11th with a wealth of $2.7 billion in the list published in March, entered the top 5 among Turkey's richest businesspeople with the recent rise. According to current data, Geçgel ranks fourth with a wealth of approximately $3.5 billion.
At the top of the list is Murat Ülker with a wealth of $5.3 billion, followed by Şaban Cemil Kazancı in second place with $5.2 billion. In third place is İbrahim Çeçen with $3.8 billion. Ferit Şahenk is ranked fifth, following Geçgel.
WHO IS FERIDUN GEÇGEL?
Born in 1970 in the Suruç district of Şanlıurfa, Feridun Geçgel started his business career with the trade of electrical and electronic materials. In 2005, he took over Astor Transformatör, stepping into the manufacturing sector.
Astor Enerji, which produces medium and high voltage transformers and switching equipment, was offered to the public on Borsa Istanbul in 2023. In 2024, Geçgel served as vice president and football branch manager at Ankaragücü, but left these positions in the same year.