Mehmet Emin Karamehmet’s profile picture

Mehmet Emin Karamehmet

Mehmet Emin Karamehmet’s profile picture
Net worth 2018: $1.15 Billion
Industry: Telecom
Country: Turkey
BirthDay: 1944
Children: 1
Education: Bachelor of Arts / Science, Dover College
BIOGRAPHY

Mehmet Emin Karamehmet was bornon 1944 in Turkey. Mehmet Emin Karamehmet is the owner of Cukurova Holding, which has interests in packaging, chemicals, finance, construction and telecom. The bulk of his fortune is tied to Turkcell, Turkey's largest cell phone operator, which is traded on the NYSE. After a seven-year-long dispute with Russian conglomerate Alfa Group, in 2014 Cukurova reached a $1.6 billion settlement with Alfa and regained control of the stake in Turkcell it had put up as collateral for financing it received from the group. Karamehmet still owes $455 million to the Saving Deposit Insurance Fund, which the Turkish government set up after a series of bank failures between 1998 and 2002. It routinely seizes assets in lieu of cash. In an effort to collect $455 million Cukurova owes the government, the Fund has also seized several Cukurova companies including Aksam Newspaper, Show TV, an automotive company called BMC and Digiturk, a satellite television provider. Despite the giant payment to Alfa and his government debts, Karamehmet's stake in Turkcell, his shares in oil producer Genel Energy and other assets keep him on the billionaires list.

NET WORTH STATISTIC
2010

$2.9 Billion

2011

$4 Billion

2012

$2.9 Billion

2013

$2.4 Billion

2014

$1.5 Billion

2015

$1.15 Billion

2018

$1.15 Billion

TIMELINE
2012

He is currently ranked 2nd wealthiest person in Turkey and 401st globally in 2012 Forbes Billionaires list

1944

Mehmet Emin Karamehmet (born 1 April 1944) is the chairman of Turkey's Çukurova Holding conglomerate

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