Turkey's richest person has changed

Despite the volatile course in Borsa Istanbul, the steady rise that Astor Enerji achieved in May has been reflected in both the company's value and the wealth of its chairman, Feridun Geçgel. Having been in the spotlight for his success in the energy sector and recent major agreements, Geçgel has thus climbed to the top of the list as Turkey's wealthiest individual.

According to the updated Forbes billionaire rankings, Feridun Geçgel's personal wealth has increased significantly due to the bold surge in company shares. Looking at the latest data, Geçgel's wealth gained 15.66 percent in value in a single day, reaching the 5.3 billion dollar level. This impressive rise has placed him ahead of Murat Ülker as Turkey's richest person. Furthermore, Geçgel has taken the 803rd spot on the global billionaire list.

Astor Enerji shares have shown an increase of approximately 15 percent over the last month, despite the general stagnation in the stock market. A major international agreement signed at the end of April, in particular, was effective in accelerating the growth of Geçgel's wealth. On April 28, the company signed a significant transformer sale agreement worth 51.5 million dollars with a United States-based firm. This collaboration quickly boosted the company's stock market value while rapidly moving Geçgel up the rankings among Turkey's wealthiest people.

News Source: 12punto