The property declaration list of Turkish President Recep Tayyip Erdoğan has been made public, shedding light on his holdings and triggering a wave of scrutiny.
The comprehensive list, which outlines the president’s immovable assets along with his financial accounts, was published in the Official Gazette on Thursday alongside the officially announced results of the recent elections in Turkey.
The disclosure reveals that President Erdoğan possesses several immovable properties, including a sizable 2,000-square-meter land and a half-share in two residences.
According to the details regarding Erdoğan’s finances and assets disclosed by the Official Gazette, the total value of Erdoğan’s assets adds up to over 16 million liras (nearly $780,000) with a debt of over five million liras (around $240,000) to his brother.
Criticism has often revolved around President Erdoğan and his family’s extravagant expenditures, particularly relating to the palace and security arrangements. In response to these criticisms, the President has frequently justified the expenses, using the phrase, “When it comes to reputation, there is no holding back on expenses.” Consequently, many find it challenging to reconcile this disclosed financial situation with the President’s lifestyle and perceived wealth.
This is not the first time Erdoğan’s assets have attracted attention. In 2019, journalist Ahmet Dönmez reported that the United States had purportedly identified undisclosed assets belonging to Erdoğan. Dönmez cited former US Ambassador to Ankara, Francis J. Ricciardone, who during his tenure in Turkey, claimed that they had discovered significant sums of money concealed on ships in international waters. Dönmez further cited a cryptogram sent by the then US Ambassador, Eric Edelman, in 2004, indicating that two essential members of Erdoğan’s Justice and Development Party had disclosed the existence of eight secret accounts held by Erdoğan in Swiss banks.