In the latest Forbes ranking published this week, the standout story is the entry of Selçuk Bayraktar into the top ten richest people in Turkey. With an estimated net worth of about $2.7 billion, he now ranks tenth among Turkey’s wealthiest individuals.
At the top of the list is Hamdi Ulukaya with roughly $13.5 billion, followed by Murat Ulker with about $5.3 billion.
Bayraktar’s connection to the presidency is direct: he is the son-in-law of President Erdogan. At the same time, he serves as chairman of Baykar, a leading company in Turkey’s drone industry, while his brother Haluk Bayraktar is the company’s CEO.
Baykar reported revenues of around $2 billion last year, up from $1.4 billion the year before. Approximately 90% of its revenue came from exports — a figure that helps explain how the drone industry has become a major source of wealth in Turkey. The company’s flagship systems, including the widely exported Bayraktar TB2, have significantly boosted Turkey’s global defense footprint.