Hamdi Ulukaya, the Turkish-American billionaire behind the yogurt company Chobani, has recently launched the Hamdi Ulukaya Initiative, known as HUG in Turkish, to train up-and-coming Turkish entrepreneurs. The initiative supports two kinds of applicants: ones who are running existing startups and others who are hoping to turn their ideas into profitable ventures. They are attending workshops at Chobani facilities, professional development seminars at NYU, and visiting accelerator and innovation centers in New York and Boston. In 2005 he bought an old Kraft Foods yogurt plant with a loan from the Small Business Administration and started the Greek yogurt company that had roughly $1.5 billion in revenue in 2016. FORBES estimates Hamdi Ulukaya’s net worth at $1.7 billion.

Source: Forbes July 07, 2017 18:45 UTC