How rich is Ali Koç?
Ali Koç belongs to the richest entrepreneurial family in Turkey and is no stranger to politics either. The Istanbul resident studied at Harvard, worked for large American corporations and joined the family holding company at an early age. At the political level, Ali Koç, like the rest of his family, is rather critical of Turkish President Erdoğan. This made his clear victory in the power struggle for the presidency of the Turkish football club Fenerbahçe Istanbul a big surprise. The cherished Ali Koç’s net worth is 820 million euros.
International professional experienceAli Koç was born in Istanbul in 1976. He came from a very good family. When Son of a billionaire family after all, he had the best qualifications to start a promising career. After completing school in London, the native Turk first studied in Texas. He then went on to do a Master of Arts degree in business administration from Harvard University. In the USA he initially worked for the two major banks Morgan Stanley and American Express. At the age of 30, Ali Koç was actively appointed to the family-owned company, Koç-Holding, and held various positions there. His activities mainly focused on the Turkish banking industry. Koç quickly realized himself in the family business and at the same time promoted the growth of the holding company. Of course, as a participant in the holding company, this also increases your own assets.
The Koç family fortune
the With a private fortune of over 6.6 billion euros, the Koç family is one of the richest families in Turkey. The family fortunes can be traced back to their own company, Koç Holding. The company generates a large part of its sales in the energy sector, whereby it also exerts considerable influence on the banking sector in Turkey. The family also has good contacts in the American business world. This is particularly evident in the filling of the supervisory board positions in the Group’s own companies. Ali Koç has held numerous positions in the holding company since 1997. As deputy chairman of the board, he is responsible for a modern and sustainable orientation of the company.
The Turkish group of companies Koç Holding A.Ş. is listed and has more than 85,000 employees worldwide. Vehbi Koç was founded in 1926, when it was still a trading company for light bulbs, automobiles and building materials. The business areas have expanded significantly since then. In addition to automobile factories and construction, the group operates in the following sectors: financial services, energy, consumer electronics, household appliances, food, information technology and tourism. In 2018 a achieved total sales of 29.8 billion US dollars. Koç Holding is responsible for around 8% of Turkish economic output and 9% of Turkey’s national exports. The listed company is majority owned by the founding Koç family.
Power struggle for a football clubThe voting for the presidency of Fenerbahçe Istanbul was followed closely at the political level. Finally there was a duel from two very different political camps. Aziz Yildirim, Ali Koç’s predecessor, is a friend of Erdoğan and an open AKP supporter. After manipulating several soccer games, Yildirim had to go to prison for a year, among other things, and survived numerous attempts to replace him during his 20-year tenure. Erdoğan also stood by his friend in the election campaign. Ultimately, however, even the presidential support could not avert defeat. With an overwhelming A majority of almost 80 percent then won Ali Koç the vote for the presidency. Fenerbahçe Istanbul is one of the most important football clubs in Turkey.
Ali Koç as President of Fenerbahçe Istanbul
The power struggle won in summer 2018 was often referred to as the dawn of a new political era. However, Yildirim left his successor with a real mammoth task: the Fenerbahçe Istanbul club with more than 600 million euros in liabilities. The gifted entrepreneur Ali Koç was commissioned to live up to his name as a businessman and to rebuild the club as president of Fenerbahçe Istanbul.
Cover picture: oguzhankuyucu [CC BY-SA 4.0], via Wikimedia Commons
Sakhalinio [CC BY-SA 4.0], via Wikimedia Commons
Visit site for more useful and informative articles!