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The Sabancı family is one of the wealthiest families in Turkey according to the Forbes billionaires list of 2016, with an estimated fortune ranging between $20–30 billion. The family's main business entity was founded by Hacı Ömer Sabancı in the 1930s. Hacı Ömer Sabancı, the progenitor of the Sabancı family, moved from his native Kayseri to Adana in the early 1920s. His business grew, in part, due to reduced business competition as a result of the Armenian genocide.[further explanation needed] Some second and third generation members of the family today control a group of companies under Sabancı Holding. Most of the companies were established by the efforts of the second generation members of the family, Sakıp Sabancı, Hacı Sabancı, Şevket Sabancı, Erol Sabancı, and Özdemir Sabancı . After the death of Sakıp Sabancı, also known as Sakip Aga, in 2004, the granddaughter of the founder, Güler Sabancı, was chosen to run Sabancı Holding.
Today, some second and third generation members of the family have left their managerial positions at the Sabanci Group and established their own companies such as Densa, Demsa and Esas Holding which owns Pegasus Airlines.
- ^ "In Pictures: The 40 Richest Turks". Forbes.com. Retrieved 24 February 2017.
- ^ Ungor, Ugur; Polatel, Mehmet (2011). Confiscation and Destruction: The Young Turk Seizure of Armenian Property. A&C Black. p. 132. ISBN 978-1441130556.
- ^ Ayşe Buğra: State and Business in Modern Turkey. A Comparative Study. SUNY Press, 1994. p. 82
- ^ "Sakip Sabanci, 71, Businessman". The New York Times. 13 April 2004. p. 15. Retrieved 9 May 2013.
- ^ "Güler Sabancı dönemi". Radikal (in Turkish). 19 May 2004. Archived from the original on 6 January 2014. Retrieved 9 May 2013.