From Seamstress to Empire Builder: The Unconventional Rise of a Visionary Woman

In a world where ethics continually evolve, it's hard to imagine that just three decades ago, amassing a fortune through unconventional means was not considered scandalous. This was the reality in Turkey during the early 1990s when a remarkable woman rose to prominence as the wealthiest in the nation. Our story delves into the life of Matilda Manukyan, a single mother who defied odds and societal norms to build an extraordinary legacy.

Life rarely offers an easy path, but Matilda's father envisioned a future free from hardship for his only daughter. Growing up in a prosperous Armenian aristocratic family in Istanbul, Matilda was surrounded by luxury — from imported toys and French fashion to private tutors and language lessons.

Despite the turbulence of World War I and economic downturns, her father ensured she received a quality education at a French linguistic school and later established a high-end atelier for her. This atelier was not just any dressmaking business; it catered to elite clients, offering exquisite Italian and French fabrics, with milliners trained in Paris.

It was here that young Matilda first grasped the nuances of female psychology and learned the fundamentals of effective team management in a female-dominated workplace — skills that would prove invaluable.

Her father further secured her future by arranging a prosperous marriage and a lavish wedding. However, tragedy struck when her husband passed away just a year and a half after the birth of their son.

This personal loss coincided with profound national change. After World War I, the defeated Ottoman Empire transitioned into the Turkish Republic, embracing rapid Westernization. Amidst this upheaval, Matilda found herself a single mother facing uncertainty. With her father also deceased, she inherited properties that were difficult to rent or sell during the crisis.

Motivated by the fierce determination common among mothers, Matilda mourned briefly before deciding to adapt. She commissioned a modern dress to symbolize a new chapter — a shorter hemline, an open neckline, and a bright scarf — signaling her resolve not to be intimidated. While her father couldn't guarantee a stable future, he had equipped her with essential business knowledge.

One of her inherited buildings was located in Istanbul's notorious red-light district, housing a brothel. The brothel’s owner owed a significant debt to Matilda's father, and unable to repay in cash, settled the debt by transferring ownership of the establishment to her.

Where others might have rejected such a deal, Matilda saw opportunity. Drawing on her sharp business instincts, she envisioned strategic renovations and a management overhaul that would maximize profitability. She accepted the unconventional payment and set out to transform the enterprise.

Matilda herself acknowledged the moral ambiguity of her ventures, famously stating, "Where there is great money, no one cares about tears."

To expand and sustain her business, she employed tough and pragmatic managers who recruited workers regardless of age and retained them regardless of circumstances. Rumors about the brothels’ inner workings circulated, but the business flourished, growing into a vast empire over the years.

When the number of such establishments exceeded 37 and her wealth reached an estimated $200 million, media outlets dubbed her the "Queen of the Red-Light District." In a 1994 interview, she proudly described her workforce as "the healthiest, most beautiful, and experienced women in Istanbul."

Beyond these enterprises, Matilda was also a record-setting taxpayer, contributing over $10 million in taxes in 1994 alone, earning her Turkey’s "Golden Plaque" medal five times.

Her fortune extended well beyond the red-light district. Following her father's advice, she invested heavily in commercial properties across Turkey.

Her portfolio included 40 shopping centers, hotels in Antalya and Alanya, factories producing plastics and textiles, and even a private island in the Sea of Marmara. She also owned a 200-room hotel in Germany.

Her assets also featured 50 offices, an equal number of retail stores, four country homes, a fleet of 220 taxis, a yacht, a Rolls-Royce, multiple BMW and Mercedes vehicles, and jewelry worth millions.

Jewelry was a special passion for Matilda. On one occasion, she flew privately to India to acquire a rare cabochon sapphire.

"Diamonds lift my spirits and are excellent long-term investments," she said, although she never sold a single piece from her collection.

She often wore diamonds daily, believing that a ring on a relaxed hand made a subtle statement. Despite her philanthropic efforts, including funding hospitals and schools, she faced animosity from various groups — religious conservatives for her business, leftist radicals for her wealth and influence, and nationalists for her heritage.

Legal challenges also shadowed her, including accusations of exploiting minors. Yet, no conviction was ever secured, possibly influenced by her vast resources and public image.

Tragically, after a court acquittal, an explosion in her car severely injured her, resulting in the loss of a leg and the deaths of her driver and bodyguard. She underwent multiple surgeries in Switzerland and lived six more years.

Matilda Manukyan passed away on February 17, 2001, leaving her fortune to her son, Kerob Çilingir, who was raised in the United States. Her grand Istanbul mansion, dubbed the "M&M Museum," displayed her achievements and awards, underscoring her desire for public recognition.

In 2006, a television series portraying Matilda's life was produced. Actress Ahu Tugba immersed herself in the red-light district, engaging with women who knew the legendary millionaire. The emotional stories she encountered, including that of a woman sold into slavery as a child, deeply affected her. Despite completion, the series was never broadcast.

Photo credit: Legion Media

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