Number of Turkish millionaires increases in first quarter

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The number of Turkish millionaires totaled 145,989 with the addition of 7,009 more people in the first quarter of 2018.

The total deposits of millionaires increased to more than TL 954 billion, according to Banking Regulation and Supervision Agency (BDDK) data.

At the end of March total deposits amounted to TL 909 billion, the T24 news website reported.

Almost 132,000 millionaires live inside Turkey, but approximately TL 433 billion of their money is held in foreign currency. More than 13,000 Turkish millionaires reside abroad, and only a small portion of their wealth is saved in Turkish lira, amounting to TL 7.485 million.

According to New World Wealth, a report by a South African-based agency, in 2017 nearly 6,000 Turkish millionaires left the country, which put Turkey third on the list of millionaires exiting their homelands. With its more than 1 billion population, China came first with around 10,000 and India, another densely populated country, came second with almost 7.000.

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2 COMMENTS

  1. One million TL is only about $230,000. This is not millionaire status in monetary terms. Millionaires are not usually classified by their ‘deposits.’ Net worth is a more accurate denominator. Creative or aggressive accounting can do wonders . . . . . .

  2. I had actually asked what currency was being talked about and was told they were millionaires in US dollar terms, but you’re right about net worth being a more accurate denominator.

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