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Decisions made, steps taken and more In the story of the sinking of Karamehmet It’s laying down. After starting a path of believing in technology in 2000 29th
Decisions made, steps taken and more In the story of the sinking of Karamehmet It’s laying down.
After starting a path of believing in technology in 2000 29th richest person in the world What happened to Mehmet Emin Karamehmet, who also…
One day an entrepreneur operates on a mobile phone in Sweden To Murat Vargı, founder of MV Holding He wrote a letter and told her about his cell phone. Of course, at that time there was neither a mobile phone nor a network in Turkey.
Vargı assessed the entrepreneur’s offer to establish a mobile phone company and since he did not have enough money, he went first to Koç and then to Sabancı Holding, but did not accept the offer. next one There was Çukurova Holding.
Chairman of the Board of Directors of Çukurova Holding Mehmet Emin Karamehmet, He accepted the offer and founded Turkcell together with Vargı in 1994. The continuation of the communications network has arrived. After Turkcell’s listing on the US stock market Superonline and Digiturk was founded.
Even though Çukurova Holding is behind it, Karamehmet Pamukbank and Yapı Kredi Bank He was also his boss. In addition to being a distributor of Caterpillar in Türkiye, he was also a ship owner. And all this The richest man in Turkey let it happen.
Karamehmet was also hit by one of the country’s biggest economic crises, causing banks to fail. First Pamukbank and then Yapı Kredi Bank also faced their share of problems. Then, as you can guess, SDIF seized both banks.
There was an accusation. According to this claim, Karamehmet was the owner He used banks as safes. After SDIF’s investigation, he was owed $4.20 billion by both banks.
This debt also affected Turkcell. After Turkcell was listed on the stock market, the partners were obviously not only Karamehmet and Vargı. Karamehmet went to Alfa Group in Russia. Alfa was already trying to become a shareholder in Turkcell. Karamehmet of the meeting with $1.7 billion When he returned, he left his shares as collateral.
between partners Swedish Sonera Holding He was against this work. Because according to the contract they had priority in the share transfer. The case then ended up in court. If there were a general meeting, both the Russians and the Swedes might benefit from it.
However, with the help of the state, that meeting did not materialize. Naturally, when the Board of Directors was overthrown, those close to the government joined the Board of Directors and Turkcell came under state management.
Not to lose Turkcell shares, Karamehmet Loan of $1.6 billion from Ziraat Bank drawn. This debt, like the debt to the Russians, could not be paid. As such, Hüseyin Aydın, general manager of Ziraat Bank, became a member of the board of directors instead. So he lost his shares.
Mehmet Emin Karamahmet, who believed in the future of technology, jumped up the ladder of wealth in a very short time, while his fall was just as rapid. If we look at Turkey’s 100 richest families announced in 2023, we see that 48th place We saw.
In this process, professional managers and failure to comply with warnings That’s why one of the things that has been said about Karamehmet is that he prepared to sink it.
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Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
