Turkish businessmanErman Ilicak has an estimated net worth of $2.5 billion as of March 2013 according to Forbes. A University of Minnesota graduate, Erman Ilicak obtained most of his net worth from his investments in the building and energy industries. He now works forRenaissance Construction CJSC as Manager and President. In 1994, Erman Ilicak foundedRonesans, a construction company based inSt Petersburg, Russia. Through time, the company has built severalinfrastructureprojects in Middle East and Central Asia. He is likewise the owner of several offices, resorts and shopping malls in Russia. It was in 2012 when he collaborated with fellow billionaire Aydin Dogan to create more investments in Turkish real estate business. Separately, he already owns 12 shopping malls in the united states. Currently, Erman Ilicak serves as the President of TUSIAD’sInformation Society & New Technologies Committee.