Net Worth Of Recep Tayyip Erdoğan

3 years ago

Net Worth Of Recep Tayyip Erdoğan

Recep Tayyip Erdogan is a Turkish politician serving as the current President of Turkey. He previously served as Prime Minister of Turkey from 2003 to 2014 and as Mayor of Istanbul from 1994 to 1998.

Early Life & Career

Recep Tayyip Erdoğan was born in Kasimpasa, Istanbul, Turkey in February 1954. He became the 12th President of Turkey in August 2014. Recep Tayyip Erdoğan is a member of the Justice and Development Party and has also been a member of the National Salvation Party, Welfare Party, and Virtue Party. From March 2003 to August 2014 he was a Member of the Grand National Assembly. Recep Tayyip Erdoğan served as the 28th Mayor of Istanbul from March 1994 to November 1998. From March 2003 to August 2014 he served as the 25th Prime Minister of Turkey. He became the leader of the Justice and Development Party in May 2017. He previously played football for Kasimpasa. At one point Recep Tayyip Erdoğan was stripped of being the Mayor of Istanbul and imprisoned for four months because he recited a poem promoting a religious point of view of government.

Erdoğan Family Wealth

Erdoğan was famously broke before he entered politics. In 2011 and 2012, during the time he was serving as Prime Minister, he transferred at least $15 million into offshore trusts. His net worth today is reportedly in the hundreds of millions or billion dollar range. Erdogan has dubiously explained his newfound wealth as being a gift from his son.

In 2004, soon after being elected Prime Minister, a US diplomatic cable reported that Recep Erogan controlled "at least 8 Swiss bank accounts

In 2016, German newspaper Bild conducted an investigation that found Recep's son Ahmet Erdoğan has a net worth of $80 million without a clear source. The same paper reported how Recep's youngest son Bilal is frequently "connected to shady criminal deals". An intercepted phone call reportedly overhead Recep instructing a bank to "to liquidate perhaps a billion dollars in cash".

In 2017 a European news outlet called theblacksea.eu conducted an investigation which found that the Erdoğan family controls at least three trusts located on the Isle of Man. The same publication showed evidence that the family controls $25 million worth of oil assets

In 2018, Recep appointed himself as the head of Turkey's $40 billion sovereign wealth fund. His son in law Berat Albayrak serves as his deputy in the fund, in addition to being the nation's Finance Minister and Oil Minister.