Faruk Koca Net Worth: The Wealthy and Controversial Minister of Turkey

Faruk Koca Net Worth
Faruk Koca Net Worth

Faruk Koca is a Turkish politician and businessman who has been Turkey’s Minister of Transport and Infrastructure since July 9, 2023.

He has also been a member of Turkey’s Grand National Assembly since June 24, 2018, representing the ruling Justice and Development Party (AKP). He is a member of the Ankara 1st electoral district.

Faruk Koca Early Life and Education

Faruk was born on April 15, 1964, in Derekşla, Turkey, a village in Krşehir Province. He is the son of farmers Mehmet and Fatma Koca. He has two sisters and three brothers. In his hometown, he finished primary and high school.

He then relocated to Ankara, Turkey’s capital city, to further his schooling. In 1986, he graduated from Gazi University’s Faculty of Economics and Administrative Sciences. From the same university, he also earned a master’s degree in business administration.

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Faruk Koca Net Worth and Salary

Faruk Koca is one of Turkey’s wealthiest and most prominent people. He is projected to be worth more than USD 500 million. As minister of transport and infrastructure, he receives a monthly salary of 81,250 Turkish liras.

His holdings include real estate, vehicles, and investments in several industries. He is also well-known for his charitable contributions, particularly to education, health, and culture.

Faruk Koca Business Career

Koca began his commercial career in the construction sector after finishing his education. In 1989, he established his own company, Koca Group.

The corporation is involved in a variety of industries, including construction, energy, tourism, mining, agriculture, and trading. Koca Group has completed numerous projects in Turkey and overseas, including the construction of highways, bridges, tunnels, dams, airports, hotels, shopping malls, and industrial plants.

In addition, the corporation has invested in renewable energy sources like wind, solar, and hydropower. Koca Group employs approximately 10,000 people and has an annual revenue of more than 2 billion Turkish liras.

Faruk Koca Political Career

Faruk Koca entered politics in 2002 when he joined the AKP, the conservative and Islamist party that Recep Tayyip Erdogan, the country’s current president, leads. In 2004, he was appointed as the party’s deputy chairman in charge of economic matters.

He was elected president of the Ankara Chamber of Commerce in 2005 and remained in that position until 2018. He also served on the boards of the Turkish Union of Chambers and Commodity Exchanges (TOBB) and the Foreign Economic Relations Board (DEK).

Faruk Koca Net Worth

Koca was elected to the Turkish parliament from the Ankara 1st electoral district in the 2018 general elections. On July 9, 2023, President Erdogan named him as Turkey’s Minister of Transport and Infrastructure.

He is in charge of developing and maintaining the country’s transportation networks, which include roads, railroads, airports, ports, and bridges. He is also in charge of megaprojects aimed at increasing Turkey’s regional and global influence, including as the Istanbul Canal, the Anakkale Bridge from 1915, and the Ankara-Nide Highway.

Faruk Koca Personal Life

Faruk Koca is married to teacher Ayşe Koca. Mehmet, Fatma, and Emine are their three children. Koca is a pious Muslim who adheres to the teachings of the Gülen movement, an exiled cleric-headed religious and social organization. Koca is also a fan of the Turkish football club Ankaragücü, which he has previously supported financially and administratively.

Faruk Koca Controversies

Faruk Koca has been involved in several controversies and scandals throughout his career. Some of the most notable ones are:

Corruption: Koca was charged with bribery and corruption in the 2013 graft investigation that targeted the AKP government and its associates. He is accused of illegally transferring gold to Iran in return for oil and gas, in contravention of US sanctions.

He was also accused of receiving millions of dollars in payments from construction firms that won public tenders. He disputed the claims and claimed they were part of a coup plot orchestrated by the Gülen movement, which he blamed for arranging the investigation.

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