Turkey's Richest List Updated: Ülker Remains at the Top Amidst Market Shifts

Murat Ülker continues to hold the top position as Turkey's wealthiest individual, with his net worth standing at $5.2 billion. Şaban Cemil Kazancı follows closely in second place with $5 billion. The rankings of Turkey's richest individuals experienced shifts in May, influenced by market fluctuations, particularly a decline in Borsa İstanbul.

The fortunes of the Tezmen family, associated with Tera Holding, saw a significant downturn. After an initial surge in Tera Holding shares in early 2026, which saw Emre and Oğuz Tezmen briefly enter Forbes' global billionaires list, a subsequent decline in share value led to Oğuz Tezmen losing his billionaire status. The continued drop below 210 TL per share also removed Emre Tezmen from the billionaire ranks, with his current net worth recorded at $0.9 billion. Despite this, Emre Tezmen remains on Forbes Turkey's "Top 100 Turks" list.

In contrast, Feridun Geçgel, owner of Astor, saw his wealth grow to $4.5 billion. Astor shares experienced a nearly 15% increase in value over the past month, strengthening Geçgel's position among the country's wealthiest.

Other notable figures on the list include Erman Ilıcak with $3.8 billion and Ferit Faik Şahenk with $3.0 billion. Selçuk Bayraktar, a director at Baykar, holds $2.7 billion, while his brother Haluk Bayraktar has $2.4 billion. Filiz Şahenk is identified as Turkey's richest woman with $2.8 billion.

When individuals operating outside Turkey are included, such as Hamdi Ulukaya ($12.4 billion), Eren Özmen ($6.7 billion), Fatih Özmen ($6.4 billion), and Uğur Şahin ($4.1 billion), the total net worth of Turkish billionaires surpasses $100 billion. The overall market performance in May, marked by limited trading due to public holidays and a prevailing selling pressure, saw the BIST 100 index close the month lower than it began.