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The former chairman of Yıldız Holding, the largest food manufacturer in Central & Eastern Europe, Middle East and Africa, Murat Ülker is the richest man in Turkey with total assets of $4.9 billion, Forbes magazine reported on March 7.

Ülker’s assets grew by over one billion from 2019, when they were worth $3.7 billion.

Murat Ülker

This current level of wealth is familiar to Ülker, whose assets totaled $4.8 billion in 2018 before falling in 2019.

Credit: Forbes Magazine

Yıldız Holding owns handmade chocolate manufacturer Godiva and United Biscuits of the United Kingdom.

Ülker is followed by Erman Ilıcak, chairman of construction-focused Rönesans Holding.

Ilıcak’s total assets equal $3.2 billion, down 600 million from 2019 when he ranked first on the list of Turkey’s wealthiest.

Ferit Şahenk, chairman of Turkey’s mega conglomerate Doğuş Holding came in third on the list of Turkey’s wealthiest in 2020.

Chairman of automotive giant Doğuş Holding, Şahenk’s assets grew by $400 million from 2019, reaching $2.4 billion.

The list features eight names who are affiliated with another top conglomerate in Turkey, Koç Holding, which owns banks, tech companies and energy suppliers.

Koç Holding Chairman Ömer Koç also placed on the list with $800 million, as did his brother Ali Koç, president of top soccer team Fenerbahçe, with total assets of $700 million.