Ali Erdemoglu
Overview
- Source of Wealth
- Carpet
- Industry
- Manufacturing
- Residence
- Istanbul
- Marital Status
- Married
- Children
- 3
Assets
- Sasa Polyester Sanayi12,317,000,000 shares @ --SASA.E-TR
Biography
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.
About
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.