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Ahmet Nazif Zorlu

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Ahmet Nazif Zorlu

1944 – 2026 · aged 82 · Industrialist, chairman of Zorlu Holding

“From two looms in Babadağ to Vestel. My country first, then my company, then my family.”

Portrait: Sözcü / Zorlu Holding

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Ahmet Nazif Zorlu (28 August 1944 to 2 November 2026) was a Turkish industrialist who turned a small family weaving business from Babadağ, Denizli into Zorlu Holding, one of Turkey's largest conglomerates. Best known as the man who bought the struggling electronics maker Vestel in 1994 and built it into…

Ahmet Nazif Zorlu (28 August 1944 to 2 November 2026) was a Turkish industrialist who turned a small family weaving business from Babadağ, Denizli into Zorlu Holding, one of Turkey's largest conglomerates. Best known as the man who bought the struggling electronics maker Vestel in 1994 and built it into one of Europe's biggest producers of televisions and home appliances, he chaired Zorlu Holding until his death at 82 in an Istanbul hospital after cancer treatment.

Zorlu was born in Babadağ, a weaving town in Denizli province, to Hacı Mehmet Zorlu and Saide Zorlu. In 1953 his father founded the business that became the Zorlu Group with two hand looms, producing bed sheets. Ahmet attended Gazi primary school in İzmir, and Euromoney later described him as a primary school graduate who made his fortune in textiles. At 15 he left for Trabzon on the Black Sea coast. He recalled arriving at midnight on New Year's Eve 1959 with his uncle, renting a small shop in the Kemeraltı Terziler Sokağı area the next morning and selling the sheets his family made in Denizli. Locals nicknamed him "Gari", and he later said he learned "everything about trade" in Trabzon, which he called his second home.

In the 1960s Ahmet and his elder brother Zeki Zorlu expanded the retail side of the family business, opening stores in Trabzon and then Istanbul. Ahmet settled in Istanbul, and in 1970 he moved the company's headquarters there. Spotting a gap in the market for printed bed linen, he launched the TAÇ brand in 1973, producing Turkey's first 220 cm wide printed duvet covers and sheets. That same year he made the business's first export sale. In 1976 the brothers founded Korteks in Bursa, the group's first manufacturing company, which grew after 1982 into a weaving, curtain and polyester yarn operation in the Bursa Organized Industrial Zone. In 1990 he brought all the businesses together as Zorlu Holding, and in 1993 the group founded Zorlu Enerji to power its textile mills.

The defining deal of his career came in 1994, when he bought Vestel from the administrators of the collapsed British group Polly Peck. Euromoney reported that he paid less than 10 million dollars for a controlling stake. Zorlu later said he had bought the company "from the funeral stone", meaning the company was all but dead. Under his ownership Vestel built Vestel City in Manisa, one of Europe's largest manufacturing complexes, and became Turkey's export champion in its sector for decades. Vestel produced its 100 millionth television in 2010.

He kept diversifying. The group bought DenizBank in 1997 and sold it to Dexia in 2006, built Zorlu Linens, entered defence electronics through Vestel Savunma in 2003 (its mini drone Karayel first flew in 2005), and invested in geothermal and solar power, electricity distribution, nickel and cobalt mining through Meta Nikel, electric vehicle charging and the national car company Togg. In 2007 he paid 800 million dollars for the former Highways Directorate land in Zincirlikuyu, Istanbul, where Zorlu Center opened in 2013 with a shopping mall, residences, offices, the Raffles hotel and the Zorlu Performing Arts Center (Zorlu PSM). "My dream was to create a whole district, five in one place," he said on opening day.

In 1999 he founded the Mehmet Zorlu Foundation, named after his father, which funds scholarships, education, culture and health work. He was a member of DEİK, TÜSİAD, TETSİAD, DENBİR and BASİAD. Spain awarded him its Order of Civil Merit in 2007, and the Turkish Grand National Assembly gave him its Outstanding Service Award in 2009. Forbes listed him as a billionaire for years; Forbes Türkiye ranked him 35th among Turkey's richest people in 2025 with an estimated 950 million dollars.

His final years were marked by financial strain at the group. Vestel cut thousands of jobs as European demand weakened, and in 2026 Zorlu Holding applied to restructure part of a debt load of about 4 billion dollars. Zorlu called it a planned step toward a healthier financial structure.

Zorlu was married to Zülal Zorlu and had three children, Mehmet Emre Zorlu, Şule Zorlu and Selen Zorlu Melik, all of whom served on the holding's board. He had been treated for cancer for some time, was moved to intensive care at an Istanbul hospital on 31 October 2026, and died there on the evening of 2 November 2026. Zorlu Holding remembered him by the motto he lived by: "My country first, then my company, then my family." His funeral prayers are scheduled for 4 November 2026 at Levent Barbaros Hayrettin Paşa Mosque, followed by burial in the family plot at Zincirlikuyu Cemetery. At his request, mourners were asked to donate to a civil society organisation instead of sending wreaths.

Biography adapted from Zorlu Holding statement and corporate history; Sözcü, T24, NTV, Diken (2 Nov 2026); Forbes; Euromoney; Milliyet (2013); Sabah (2017); İhlas News Agency (2022); Türkiye Today (2026); Wikipedia. Wikipedia ↗

In their own words

“My country first, then my company, then my family. (Önce ülkem, sonra kurumum, sonra ailem.)”

His guiding motto, quoted by Zorlu Holding in its statement on his death, 2 November 2026

“I bought Vestel from the funeral stone. (Vestel'i musalla taşından aldım.)”

On the 1994 Vestel purchase, Sabah column by Şelale Kadak, 2017 (translated)

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Ahmet Nazif Zorlu, chairman of Zorlu Holding
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Videos

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Ahmet Zorlu on R&D and domestically made phones (2016)
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"I sent my mother to my father": Zorlu at his mother's funeral (Metropol TV, 2021)
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Zorlu returns to his first shop in Trabzon (İhlas News Agency, 2022)
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Ahmet Zorlu speaks at the Mehmet Zorlu Foundation Youth Summit (Zorlu Holding, 2019)
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Tributes

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Cancer. Lost my old man to it in 2023 and seeing this today just brought it all back. We had a Vestel telly growing up, cheap and it just worked. 82 is no age when it's that.

Damon Suggs1h ago

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Sorry for your loss mate, it never really leaves you

Candles

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6 people are remembering Ahmet Nazif here. Every candle here is someone saying they were glad Ahmet Nazif lived. No account needed; it takes a moment and it stays here.

No account needed.
Lisa Hahn🇺🇸6h ago
Daniela Nunez🇺🇸8h ago
Vanessa Whitfield🇺🇸12h ago
from two looms to Vestel. that's a life right there.
Carolyn Cox🇺🇸14h ago

Early life

Ahmet Nazif Zorlu was born on 28 August 1944 in Babadağ, a small weaving town in Denizli province in western Turkey. His parents were Hacı Mehmet Zorlu, a weaver, and Saide Zorlu. In 1953 his father set up a home textile business with two hand looms in Babadağ, the seed of what the family would later call the Zorlu Group.…

Ahmet Nazif Zorlu was born on 28 August 1944 in Babadağ, a small weaving town in Denizli province in western Turkey. His parents were Hacı Mehmet Zorlu, a weaver, and Saide Zorlu. In 1953 his father set up a home textile business with two hand looms in Babadağ, the seed of what the family would later call the Zorlu Group. Ahmet grew up around the looms and started working in the family trade as a young teenager.

At 15 he moved to Trabzon on the Black Sea coast. In a 2022 visit to his first shop he recalled arriving at midnight on 31 December 1959 with his uncle, finding a small shop in the Kemeraltı Terziler Sokağı area the next morning and selling bed sheets made by his family in Denizli. Trabzon locals nicknamed him "Gari". He spent roughly ten years there, between the ages of 15 and 25, and called the city his second home.

Education

Zorlu's formal schooling was short. He attended Gazi primary school in İzmir, and Euromoney described him in the 1990s as a primary school graduate who built his fortune in textiles. He said he learned everything about trade in Trabzon, where he worked from the age of 15.

Zorlu's formal schooling was short. He attended Gazi primary school in İzmir, and Euromoney described him in the 1990s as a primary school graduate who built his fortune in textiles. He said he learned everything about trade in Trabzon, where he worked from the age of 15.

Career

Textiles (1960s to 1980s). With his elder brother Zeki, Ahmet expanded the family's retail business, opening stores in Trabzon and then Istanbul. He moved to Istanbul and in 1970 moved the company headquarters there. In 1973 he launched the TAÇ brand, producing Turkey's first 220 cm wide printed duvet covers and sheets, and the business made its first exports the…

Textiles (1960s to 1980s). With his elder brother Zeki, Ahmet expanded the family's retail business, opening stores in Trabzon and then Istanbul. He moved to Istanbul and in 1970 moved the company headquarters there. In 1973 he launched the TAÇ brand, producing Turkey's first 220 cm wide printed duvet covers and sheets, and the business made its first exports the same year. In 1976 the brothers founded Korteks in Bursa. The company then built a weaving and tulle curtain plant in the Bursa Organized Industrial Zone (1982), followed by a polyester yarn factory (1988). Zorlu Holding was formally established in 1990.

Vestel (1994 onward). In 1994 Zorlu bought Vestel, the Manisa based electronics maker left stranded by the collapse of Polly Peck. He later said he bought it "from the funeral stone", meaning the company was all but dead. Vestel built Vestel City in Manisa, began making refrigerators, washing machines and LCD televisions, set up offices in Hong Kong and Shanghai, and became Turkey's export champion in electrical and electronics for more than 25 consecutive years. It made its 100 millionth television in 2010.

Diversification. Under his chairmanship the group founded Zorlu Enerji (1993), bought DenizBank (1997) and sold it to Dexia (2006), built Zorlu Linens and the TAÇ and Linens retail chains, founded Vestel Savunma (2003), opened Turkey's first nickel and cobalt operation through Meta Nikel, developed Turkey's largest geothermal plants at Kızıldere, launched the ZES electric vehicle charging network and became one of the founding partners of Togg, Turkey's national car company.

Zorlu Center. In 2007 he bought the former Highways Directorate land in Zincirlikuyu for 800 million dollars. The resulting Zorlu Center, designed by Emre Arolat and Tabanlıoğlu Architects, opened on 10 October 2013 with a mall, residences, offices, the Raffles Istanbul hotel and the Zorlu Performing Arts Center.

Later years. In 2024 Cem Köksal was appointed CEO of Zorlu Holding while Zorlu remained chairman. His nephew Olgun Zorlu had become vice chairman in 2022.

Personal life

Zorlu was married to Zülal Zorlu. They had three children: Mehmet Emre Zorlu, Şule Zorlu and Selen Zorlu Melik, all of whom served on the Zorlu Holding board as the family's second generation. His elder brother and lifelong business partner Zeki Zorlu (born 1939) is honorary chairman of the holding, and Zeki's son Olgun Zorlu is its vice chairman. His…

Zorlu was married to Zülal Zorlu. They had three children: Mehmet Emre Zorlu, Şule Zorlu and Selen Zorlu Melik, all of whom served on the Zorlu Holding board as the family's second generation. His elder brother and lifelong business partner Zeki Zorlu (born 1939) is honorary chairman of the holding, and Zeki's son Olgun Zorlu is its vice chairman. His father Hacı Mehmet Zorlu died in July 2005, and his mother Saide Zorlu died in May 2021 at the age of 101.

He lived in Istanbul. He kept close ties to Trabzon throughout his life. Vestel sponsored Trabzonspor, and the club published a tribute to him after his death.

Beliefs and views

Zorlu summed up his philosophy as "My country first, then my company, then my family", a line Zorlu Holding quoted in its announcement of his death. Revisiting Trabzon in 2022 he credited faith and effort, saying that "if God wills it and the servant strives, everything is possible". He was openly pragmatic about partnerships, telling Milliyet that he would take…

Zorlu summed up his philosophy as "My country first, then my company, then my family", a line Zorlu Holding quoted in its announcement of his death. Revisiting Trabzon in 2022 he credited faith and effort, saying that "if God wills it and the servant strives, everything is possible". He was openly pragmatic about partnerships, telling Milliyet that he would take on a partner for Vestel if it meant turning one company into three.

Legacy and impact

Zorlu took a family weaving workshop and built one of Turkey's biggest industrial groups, active in textiles, consumer electronics, white goods, energy, real estate, mining, defence and e-mobility. Vestel became one of Europe's leading makers of televisions and home appliances and one of Turkey's largest exporters. His Zorlu Center and Zorlu PSM became landmarks of Istanbul's cultural and commercial life,…

Zorlu took a family weaving workshop and built one of Turkey's biggest industrial groups, active in textiles, consumer electronics, white goods, energy, real estate, mining, defence and e-mobility. Vestel became one of Europe's leading makers of televisions and home appliances and one of Turkey's largest exporters. His Zorlu Center and Zorlu PSM became landmarks of Istanbul's cultural and commercial life, and the Mehmet Zorlu Foundation, which he founded in 1999, has supported thousands of students with scholarships.

Awards and honours

Order of Civil Merit of the Kingdom of Spain, awarded by King Juan Carlos I in 2007 for his contribution to relations between Spain and Turkey. Turkish Grand National Assembly Outstanding Service Award, 2009, nominated by the Manisa Provincial Council. Regularly listed on the Forbes billionaires list (for example 1.3 billion dollars in 2017 and 1.1 billion dollars in 2021)…

Order of Civil Merit of the Kingdom of Spain, awarded by King Juan Carlos I in 2007 for his contribution to relations between Spain and Turkey.

Turkish Grand National Assembly Outstanding Service Award, 2009, nominated by the Manisa Provincial Council.

Regularly listed on the Forbes billionaires list (for example 1.3 billion dollars in 2017 and 1.1 billion dollars in 2021) and ranked 35th in Forbes Türkiye's 2025 list of Turkey's 100 richest people with an estimated 950 million dollars.

Media and public appearances

Zorlu gave relatively few long interviews. Notable appearances include NTV's "Arka Koltuk" series in 2016, a 2016 discussion of research and development and domestically made phones (Vestel produced the Venus smartphone), a 2019 talk to young people at the Mehmet Zorlu Foundation Youth Summit, and an emotional 2022 return to his first shop in Trabzon, filmed by İhlas News Agency.…

Zorlu gave relatively few long interviews. Notable appearances include NTV's "Arka Koltuk" series in 2016, a 2016 discussion of research and development and domestically made phones (Vestel produced the Venus smartphone), a 2019 talk to young people at the Mehmet Zorlu Foundation Youth Summit, and an emotional 2022 return to his first shop in Trabzon, filmed by İhlas News Agency. His story of buying Vestel "from the funeral stone" was told in a 2017 Sabah column by Şelale Kadak.

Controversies and challenges

In his last years the group faced serious financial pressure. Vestel reported losses as European demand weakened and financing costs rose, and it cut thousands of jobs. In June 2026 Zorlu Holding applied under Turkey's Financial Restructuring Framework to restructure part of its debt, which had reached about 4 billion dollars at the end of 2024. Zorlu described the move…

In his last years the group faced serious financial pressure. Vestel reported losses as European demand weakened and financing costs rose, and it cut thousands of jobs. In June 2026 Zorlu Holding applied under Turkey's Financial Restructuring Framework to restructure part of its debt, which had reached about 4 billion dollars at the end of 2024. Zorlu described the move as "a planned step to establish a healthier financial structure", citing commodity price swings, supply chain disruption, weak European demand and growing Chinese competition.

Death

Zorlu had been treated for cancer for some time. He was moved to intensive care at an Istanbul hospital (reported by T24 as Göztepe Memorial Hospital) on Saturday 31 October 2026 and died there on the evening of 2 November 2026, aged 82. Zorlu Holding announced his death on social media that evening, saying it felt deep sorrow at losing…

Zorlu had been treated for cancer for some time. He was moved to intensive care at an Istanbul hospital (reported by T24 as Göztepe Memorial Hospital) on Saturday 31 October 2026 and died there on the evening of 2 November 2026, aged 82. Zorlu Holding announced his death on social media that evening, saying it felt deep sorrow at losing its chairman "in the hospital where he had been receiving treatment for some time".

His funeral prayers are scheduled for Wednesday 4 November 2026 after the noon prayer at Levent Barbaros Hayrettin Paşa Mosque in Istanbul, followed by burial in the family plot at Zincirlikuyu Cemetery. In line with his wishes, the family asked that no wreaths be sent and that people donate to a civil society organisation of their choice instead. Trabzonspor was among those that published tributes.

Questions people ask about Ahmet Nazif

Who was Ahmet Nazif Zorlu?
Ahmet Nazif Zorlu (1944 to 2026) was a Turkish industrialist and the chairman of Zorlu Holding, the conglomerate behind Vestel, Zorlu Enerji, TAÇ, Korteks and Zorlu Center. He built the group from a small family weaving business in Babadağ, Denizli.
When did Ahmet Nazif Zorlu die?
He died on the evening of 2 November 2026 in a hospital in Istanbul, aged 82. Zorlu Holding announced his death the same evening.
What was Ahmet Nazif Zorlu's cause of death?
He had been receiving cancer treatment for some time and was moved to intensive care on 31 October 2026. Zorlu Holding said he died in the hospital where he was being treated. A more detailed medical cause was not made public.
How old was Ahmet Nazif Zorlu?
He was 82. He was born on 28 August 1944 and died on 2 November 2026.
Where was Ahmet Nazif Zorlu born?
He was born in Babadağ, a weaving town in Denizli province, Turkey.
When and where is Ahmet Nazif Zorlu's funeral?
Funeral prayers are scheduled for Wednesday 4 November 2026 after the noon prayer at Levent Barbaros Hayrettin Paşa Mosque in Istanbul, followed by burial in the family plot at Zincirlikuyu Cemetery.
Who is Ahmet Nazif Zorlu's wife?
He was married to Zülal Zorlu.
Who are Ahmet Nazif Zorlu's children?
He had three children: Mehmet Emre Zorlu, Şule Zorlu and Selen Zorlu Melik, all of whom served on the Zorlu Holding board.
Is Olgun Zorlu Ahmet Zorlu's son?
No. Olgun Zorlu is his nephew, the son of his elder brother Zeki Zorlu. Olgun has been vice chairman of Zorlu Holding since 2022.
How did Ahmet Zorlu buy Vestel?
In 1994 he bought Vestel from the administrators of the collapsed British group Polly Peck. Euromoney reported he paid less than 10 million dollars for a controlling stake. He later said he bought it "from the funeral stone" because the company was close to dead.
What was Ahmet Nazif Zorlu's net worth?
Forbes Türkiye estimated his fortune at 950 million dollars in 2025, ranking him 35th in Turkey. Forbes had listed him at 1.1 billion dollars in 2021.
What companies did Ahmet Zorlu own?
Through Zorlu Holding he controlled Vestel, Zorlu Enerji, Korteks, Zorluteks, TAÇ, Linens, Meta Nikel, Zorlu Gayrimenkul (including Zorlu Center and Zorlu PSM) and was a partner in Togg. The group also owned DenizBank from 1997 to 2006.
Who founded Zorlu Holding?
The family business was founded in 1953 by his father Hacı Mehmet Zorlu in Babadağ. Ahmet Nazif Zorlu and his brother Zeki Zorlu built it up, and Ahmet formally established Zorlu Holding in 1990.
Did Ahmet Zorlu go to university?
No. He attended Gazi primary school in İzmir and started working in trade at 15. Euromoney described him as a primary school graduate.
What was Ahmet Zorlu's connection to Trabzon?
He moved to Trabzon at 15 in 1959 to sell his family's textiles, spent about ten years there and called it his second home. Vestel sponsored Trabzonspor, which paid tribute to him after his death.
What was Ahmet Zorlu's motto?
"My country first, then my company, then my family" ("Önce ülkem, sonra kurumum, sonra ailem"), as quoted by Zorlu Holding in its statement on his death.

Written by People Forever from Wikipedia (CC BY-SA 4.0) and the reporting cited. Updated . Spotted a mistake? Tell us.

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Timeline

  1. 28 August 1944
    Born in Babadağ, Denizli, Turkey
  2. 28 August 1944
    Born in Babadağ

    Born in Babadağ, Denizli, Turkey, to Hacı Mehmet and Saide Zorlu.

  3. 1 January 1953
    Family business founded

    His father starts a weaving business with two looms in Babadağ.

  4. 31 December 1959
    Arrives in Trabzon

    Arrives in Trabzon at 15 with his uncle to sell the family's sheets.

  5. 1 January 1960
    First shop

    He and brother Zeki open their first store in Trabzon.

  6. 1 January 1970
    Headquarters to Istanbul

    Moves the company headquarters to Istanbul.

  7. 1 January 1973
    TAÇ brand and first exports

    Launches TAÇ printed bed linen and makes first export sale.

  8. 1 January 1976
    Korteks founded

    Founds Korteks in Bursa, the group's first manufacturing company.

  9. 1 January 1982
    Bursa factory

    Builds weaving and tulle factory in Bursa Organized Industrial Zone.

  10. 1 January 1990
    Zorlu Holding

    Brings all companies together under Zorlu Holding.

  11. 1 January 1993
    Zorlu Enerji

    Founds Zorlu Enerji to power group factories.

  12. 1 January 1994
    Buys Vestel

    Acquires Vestel from Polly Peck's administrators.

  13. 1 January 1997
    DenizBank

    Group buys DenizBank.

  14. 1 January 1999
    Mehmet Zorlu Foundation

    Founds the Mehmet Zorlu Foundation, named after his father.

  15. 1 January 2003
    Vestel City and Vestel Savunma

    Vestel City in Manisa becomes fully operational; Vestel Savunma founded.

  16. 1 January 2006
    Sells DenizBank

    DenizBank sold to Dexia.

  17. 1 January 2007
    Zincirlikuyu land and Spanish honour

    Buys Highways Directorate land for 800 million dollars; receives Spain's Order of Civil Merit.

  18. 1 January 2009
    TBMM award

    Receives the Turkish Grand National Assembly Outstanding Service Award.

  19. 1 January 2010
    100 millionth TV

    Vestel produces its 100 millionth television.

  20. 10 October 2013
    Zorlu Center opens

    Zorlu Center and Zorlu PSM open in Istanbul.

  21. 1 January 2017
    Togg and Meta Nikel

    Group named among the five founding partners of Turkey's national car; Gördes nickel cobalt plant opens.

  22. 1 May 2021
    Mother dies

    His mother Saide Zorlu dies aged 101.

  23. 1 January 2022
    Returns to first shop

    Visits his first Trabzon shop with wife Zülal.

  24. 1 January 2024
    New CEO

    Cem Köksal appointed CEO of Zorlu Holding; Zorlu remains chairman.

  25. 1 January 2025
    Forbes Türkiye

    Ranked 35th richest in Turkey with about 950 million dollars.

  26. 1 June 2026
    Debt restructuring

    Zorlu Holding applies to restructure part of its debt.

  27. 31 October 2026
    Intensive care

    Moved to intensive care at an Istanbul hospital.

  28. 2 November 2026
    Death

    Dies in Istanbul aged 82.

  29. 2 November 2026
    Died in Istanbul, Turkey
  30. 4 November 2026
    Funeral

    Funeral prayers at Levent Barbaros Hayrettin Paşa Mosque and burial at Zincirlikuyu Cemetery are scheduled.

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