Magazine names Koç family ‘richest in Turkey’

Magazine names Koç family ‘richest in Turkey’

Magazine names Koç family ‘richest in Turkey’

This file photo shows Mustafa Koç, the chair of Koç Holding. The Koç family at the top of the list of 100 rich people in Turkey with over $8 billion weath.

The Koç family, which owns important companies in sectors across the Turkish economy, is the country’s richest family with a fortune of more than $8 billion, according to a survey of the nation’s richest 100 families by weekly magazine Ekonomist.

The Koç family is followed by the Şahenk family, which owns Doğuş Holding, and has a fortune of $7-8 billion. The Sabancı family, headed by Şevket Sabancı, was third in the survey with a fortune of $6-7 billion. Between 2004 and 2009 the Sabancı family was evaluated under one name, but after warnings from experts on fortune management in 2010, the magazine adjusted the list accordingly. The Doğan family was ninth in the list with a fortune of $4-5 billion.

Borsa Istanbul important indicator

The survey labeled the richest as conscious consumers who seek the highest quality and the value for their spending. Myanmar, India, Sri Lanka, Nepal, Bhutan, Lithuania, Latvia, Estonia, Colombia and Botswana are listed as popular destinations for luxury tourism in 2013.

Borsa Istanbul, Turkey’s Stock Exchange, is an important indicator in the survey where capital gains and losses directly affect the fortunes of the owners of the companies.