Age, Biography and Wiki

Cavit Çağlar was born on 1944 in Komotini, Greece, is a Turkish politician. Discover Cavit Çağlar's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 80 years old?

Popular As N/A
Occupation N/A
Age 80 years old
Zodiac Sign
Born 1944, 1944
Birthday 1944
Birthplace Komotini, Greece
Nationality Greece

We recommend you to check the complete list of Famous People born on 1944. He is a member of famous politician with the age 80 years old group.

Cavit Çağlar Height, Weight & Measurements

At 80 years old, Cavit Çağlar height not available right now. We will update Cavit Çağlar's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
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Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
Parents Not Available
Wife Not Available
Sibling Not Available
Children Not Available

Cavit Çağlar Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Cavit Çağlar worth at the age of 80 years old? Cavit Çağlar’s income source is mostly from being a successful politician. He is from Greece. We have estimated Cavit Çağlar's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income politician

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Timeline

1944

Cavit Çağlar (born 1944, Komotini, Greece) is a Turkish businessman and politician.

1991

He was elected to the Grand National Assembly of Turkey (TBMM) for the True Path Party (DYP) in 1991, serving as a Minister of State responsible for state-owned banks (51st and 52nd government of Turkey).

1996

He resigned from the DYP in 1996, remaining in parliament as an independent until 1999.

He had been a major financial contributor to the political comeback of President Suleyman Demirel.

With his uncle's support and state loans, he built up a large industrial and trade group, Nergis Holding, which in 1996 had turnover of around $1bn and exports of around $200m.

Based around textiles, by 1996 it also included major real estate investments (including in tourist facilities around the Sea of Marmara), and publishing and broadcasting ventures, including news channel NTV.

In 1996 Nergis acquired Çukurova Holding's majority stake in İnterbank.

1997

In December 1997 Etibank was privatised to Medya-Ipek Holding, co-owned by Çağlar and Dinç Bilgin, for $155m, and in September 1998 Çağlar was celebrating a $1bn investment in textile production with Demirel opening the new factories.

1998

In February 1998 police uncovered a plot to assassinate Çağlar by a group working for Alaattin Çakıcı, related to the bank privatization.

1999

On 7 January 1999 İnterbank, then majority-owned by Nergis Holding, was transferred to the TMSF.

It was later merged with Etibank, before being liquidated.

Later in January, NTV was sold to the Dogus Group.

In June 1999 prosecutors alleged that in 1998 Interbank had transferred over $650m to Nergis Holding companies – far in excess of legal limits for intra-group transfers.

The total amount owed by Nergis to Interbank was said to be over $1.1bn.

2001

In January 2001 Turkey issued a warrant for his arrest, accusing Çağlar of using a $7.4m business bank loan for personal use.

He was arrested in New York in April, and agreed to return to Turkey to face trial after a New York court denied a $5m bail application.

2002

He had initially been acquitted in 2002, but the government appealed.

2004

In 2004 he was sentenced to three years ten months for bank fraud.

Çağlar was born in Komotini, Greece to ethnic Turks, moving to Turkey when he was still at school.

He left school at age 15 when his father died to look after his family.

He entered the textile business, joining his uncle, a textile merchant in Bursa.

In 2004 Çağlar agreed to pay TMSF $1.6bn for debts relating to Interbank.

When he failed to keep up payments, some of his other companies were seized, including his 50% stake in BİS Enerji, an electricity generating company in Bursa.

In 2004 Çağlar was sentenced to three years ten months for bank fraud relating to the bankruptcy of Interbank.

2008

Hotels, helicopters and media assets were also seized, and the Nergis Holding textile companies suffered financial difficulties, with 785 workers put on unpaid leave for over three months in 2008.

Yeşim Tekstil was foreclosed by Halkbank in 2008 after debts reached $45m.

In October 2008 Çağlar agreed to sell the remaining textile companies.