Turkish billionaire businessman Şevket Sabancı dies aged 85

Şevket Sabancı, a billionaire member of Turkey’s Sabancı family, has died aged 85, local media reported on Thursday.

He was one of four sons of Hacı Ömer Sabancı, the founder of companies that later formed Sabancı Holding, Turkey’s second-largest industrial group, of which he was deputy chairman until 2004.

Şevket Sabanci, born in the industrial hub of Kayseri, was chairman of Esas Holding, the largest family investment office in Turkey and owner of Pegasus Airlines, the country’s biggest low-cost carrier. He handed over control of the firm to his son Ali in January last year. Esas focuses on private equity investments and has a commercial real estate portfolio worth 2.5 billion euros.

He was married to Hayırlı Zerrin and also has two daughters - Emine Kamışlı and Sadıka Sabancı. He graduated in textile engineering from the University of Manchester Institute of Science and Technology (UMIST).