Ibrahim Erdemoglu

Net worth over time

Biography

• Ibrahim Erdemoglu and his brother, Ali, 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.
• While studying physics at university, Ibrahim Erdemoglu carried carpets on his back and sold them directly to customers.

Financial assets