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Ali Metin Kazanci, the founder and honorary chairman of Turkish energy conglomerate Kazanci Holding, has died at the age of 91, the company confirmed in a statement on Sunday.
In its announcement, the company noted that Kazanci had played a major role in the group’s development and that his name would continue to be associated with the organization’s values and direction, describing him as a businessperson whose legacy would remain part of the group’s institutional culture.
Ali Metin Kazanci, 91, began his business career in the 1950s, initially trading paraffin and oil products before expanding into manufacturing. In 1968, he established the Watt Electric Motor Factory, which laid the foundation for what would become Kazanci Holding.
Over the following decades, he founded and grew multiple companies in energy production, generator manufacturing, natural gas distribution, and related fields, eventually organizing them under a holding structure in 1994.
He also engaged in philanthropy, including supporting education in his native region.
Kazanci held a 23.24% stake in the conglomerate, while his son, Saban Cemil Kazanci, owned 48.30%. He ranked 13th on Forbes’ 2025 Türkiye Billionaires list with a net worth of $2.3 billion, while Saban Cemil Kazanci placed second with an estimated wealth of $4.3 billion.
Aksa Energy, the group's core subsidiary, operates in both domestic and international electricity markets with a total installed capacity of 3,058 megawatts, comprising a mix of thermal and renewable power assets. In 2024, the company reported ₺31.63 billion ($964.9 million) in revenue.
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