No, Salt Bae is not a billionaire

The restaurant group that owns his restaurant is valued at that amount.

Jeanette Tan | April 10, 2018, 02:12 PM

If you woke up this morning for your daily dose of Salt Bae news, you may have come across this post by Channel NewsAsia:

(Update at 4pm: CNA has corrected their caption and acknowledged their error.)

This was the caption accompanying the story, in case you can't see the embedded post:

Screenshot from CNA Facebook post

Salt Bae an overnight billionaire?

The Internet wasn't buying it:

Screenshot from CNA Facebook post

Screenshot from CNA Facebook post

Screenshot from CNA Facebook post

CNA article was reposting of Reuters article

Screenshot via Reuters article

The headline on the story CNA links to comes from a Reuters report, which is still accurate — the owner of the "Salt Bae" Turkish restaurant, which is d.ream, has indeed been valued at US$1.2 billion.

[related_story]

This valuation comes after Singapore state investment vehicle Temasek, alongside a British investment firm called Metric Capital, sunk a combined US$200 million (about S$262 million) into the d.ream restaurant group for a 17 per cent stake in it.

The Turkish restaurant group boasts 170 restaurants under more than 30 brands in 12 countries, with Salt Bae's Nusr-et steakhouse chain being just one of them.

However, the Reuters headline, if read differently, can also be interpreted — especially by folks who may only look at the headline without reading the article — as Nusret Gökçe himself, being the owner of his Nusr-et steakhouse restaurant chain, who is valued at US$1.2 billion.

But CNA's Facebook caption, which read, "Salt Bae is now a billionaire", was inaccurate.

And the erroneous caption remained unchanged while more and more readers shared it, until 4pm on Tuesday, when it was edited.

(Editor's note: A previous version of this story neglected to mention that Temasek invested in the d.ream group alongside another separate investment entity, with the quantum coming to a combined US$200 million. We've corrected it accordingly.)

Related stories:

Top image adapted via nusr_et on Instagram