Mehmet Karamehmet: Bouncing Back After Failure Led to His Success

Mehmet Emin Karamehmet achieved his status as the second-wealthiest person in Turkey – 401st in the world according to the 2012 Forbes Billionaires list – by always bouncing back after failure. He is the Chairman of the Board of the Çukurova Holding conglomerate, one of Turkey’s largest corporations, which makes him one of the country’s most successful and influential businessmen.

Established in 1923, the Çukurova Holding conglomerate is a commercial and industrial conglomerate with its headquarters in Turkey. Such is its wide range of influence from communication and information technology, media, and financial services to construction, energy, transportation, and industrial services that every Turk is likely to use one of its products and services at least once a day.

Çukurova Media Group handles most of the conglomerate’s media assets while Digiturk, a wholly-owned subsidiary of the Cukurova Group, handles the purchase, production and packaging of content including television series and movies. The Çukurova Group also operates in several other sectors including chemicals production, paper production, steel pipe manufacture, and textile manufacture.

Karamehmet has a bachelor’s degree in economics from Dover College in Kent (UK). After his graduation, he went back to his hometown, started his first company on a 100,000 TL capital, and began his successful business career. He also started getting more involved in his family’s business while also establishing Cukurova Holding, which he led toward becoming one of Turkey’s largest conglomerates.

But Karamehmet also has his share of failures. For example, he owns little of his previous assets in the media and automobile sectors because he passed the companies involved to the Turkish national government as payment for his tax debts. His company engaged in the telecommunications industry, Turkcell, is also under litigation for ownership; he currently owns the largest share in Turkcell that, in turn, comprises the largest share of his enormous wealth.