After years of rows and multiple lawsuits filed by both sides, it appears that Ipek Kirac and her father Inan Kirac have at last reconciled. Ipek Kirac announced the reconciliation on August 17 in an Instagram post.

“Yes, there are too many ongoing court cases and the situation is too complicated,” the 40-year-old billionaire daughter and heir to Turkey’s largest conglomerate Koc Holding (KCHOL), reflected.

Now eighth, but set to be first on rich list

Ipek Kirac, born in 1984, is the adopted daughter of 88-year-old Inan Kirac and the late Suna Kirac. Suna Kirac, who passed away in 2020, was a daughter of Vehbi Koc, the founder of Koc Holding.

Since 2016, Ipek Kirac has sat on the board of the  group. As things stand, she ranks the eighth richest Turk, with a wealth estimated at $2.7bn on the Forbes 2025 list of the richest Turks.

Vehbi Koc had four children, namely Rahmi Koc, Suna Kirac, Semahat Arsel (another billionaire) and Sevgi Gonul. Arsel, born in 1928, has no children, while Gonul, who passed away in 2023, also had no offspring.

Rahmi Koc, born in 1930, and Ipek Kirac are only legal heirs in relation to Arsel and Gonul. The upshot is that Ipek Kirac will become the biggest shareholder at Koc Holding because Rahmi Koc has three sons.

When Ipek Kirac also inherits her father’s wealth, she will become the richest Turk.

Board chair at carmaker

Inan Kirac remains the board chair of carmaker Karsan (KARSN) and of Karsan’s parent company Kiraca Holding.

He is the 100th richest Turk with an estimated wealth of $500mn, according to Forbes.

Disputed inheritance

On her death, Suna Kirac left her Koc Holding shares to Ipek Kirac. In 2023, Inan Kirac filed a lawsuit disputing the inheritance. He also transferred his entire wealth to a foundation, the Inan Kirac Foundation, to avoid the prospect of leaving it to Ipek Kirac.

The legal battle between Inan Kirac, Inan Kirac’s wife Emine Alangoya and Ipek Kirac continued for years. Lawsuits and court rulings flew left, right and centre.

In December, Inan Kirac announced that he had married Alangoya, a 77-year-old former executive at Koc Holding. In response, Ipek Kirac applied to a local court for the annulment of the marriage.

The court requested a medical review of Inan Kirac’s mental health and a forensic medicine institution subsequently issued a diagnosis of dementia. As a result, legal guardians were appointed by the court to take care of Inan Kirac.

Lately, the court annulled the marriage of Inan Kirac and Alangoya. Meanwhile, media reports have suggested that Inan Kirac’s legal guardians have been channelling millions of dollars to some lawyers in payments.