Turkey′s Erdogan names himself head of state wealth fund | News | DW


Turkey Wealth Fund, the state-backed financial entity which owns nearly half of Turkish Airlines and other stakes in over a dozen large companies, is now headed by President Recep Tayyip Erdogan, according to the country’s Official Gazette.

The value of the fund is estimated at $40 billion (€34.4 billion), and can be used to maintain pensions and welfare systems in times of crisis or to finance major projects.

Ankara set up the entity after the failed coup attempt in 2016. Within the last two years, the authorities transferred billions of state assets into the fund, including its…



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