Ali Erdemoglu
$1.3B
Born
Nov 20, 1959
Age
66
Source of Wealth
Carpet
Residence
Istanbul,
Citizenship
Turkey
Marital Status
Married
Children
3
Education
- Ali Erdemoglu and his brother, Ibrahim, together own over 75% of a top producer of materials used in carpet, SASA Polyester.
- They initially acquired 51% of SASA in 2015 for $102 million, then added to their stake in the publicly traded company and watched it soar in value.
- The brothers' Erdemoglu Holding also includes the two privately held companies, Merinos Carpet and Dinarsu Carpet.
- In 1970, their father, Mehmet Erdemoglu, along with family members, started Merinos with two rug-weaving looms.
- Today, Erdemoglu Holding is one of the world's largest carpet manufacturers, with production facilities in eight locations in Turkey and Russia.
- SASA has a $935 million licensing and technical service agreement with Invista, a subsidiary of Koch Industries that makes chemicals, polymers, fabrics and fibers.
- Ali Erdemoglu started in the carpet trade with his father after graduating from primary school.
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