Salt Bae’s Empire Faces Major Setback as Restaurants Sustain Significant Losses
Salt Bae’s Culinary Empire Faces Financial Losses Amid International Expansion
Record Losses Highlight Challenges for Salt Bae’s Restaurant
The renowned restaurant of Salt Bae, the Turkish chef Nusret Gokçe, famed for his theatrical salt-sprinkling technique and extravagant steak prices, faced significant financial losses last year. Despite being a favorite venue among influencers and celebrities like David Beckham and Cristiano Ronaldo, the restaurant recorded a loss of £5.5 million (approximately €6.38 million) in 2024.
This loss emerged from a revaluation of the company’s assets in the U.S., which resulted in a £6 million (€6.96 million) write-down, severely impacting the financial reports of the British parent company owning the American branches.
Strategic Shift Towards International Growth
At the height of its success, the Nusr-Et brand operated seven restaurants across the U.S. However, closures in Beverly Hills, Dallas, Las Vegas, Boston, and New York have reduced this number to two. The company, speaking to RestaurantDive, revealed a strategic pivot towards international markets, announcing upcoming openings in Mexico City and Ibiza.
- Former U.S. locations: Beverly Hills, Dallas, Las Vegas, Boston, New York
- Current U.S. operations: Two restaurants
- Future expansion: Mexico City, Ibiza
Financial Health and Wealth of Nusret Gokçe
Despite the substantial financial losses, Nusr-Et restaurant retains £2.3 million (€2.67 million) in reserves, though this is a stark decline from last year’s £8.1 million (€9.40 million). Meanwhile, Nusret Gokçe himself maintains a net worth of at least £44 million (approximately €50 million).
| Item | Price in GBP | Price in EUR |
|---|---|---|
| Giant Tomahawk steak | £630 | €731 |
| Rump steak | £680 | €789 |
| Wagyu beef (per gram) | £99 | €1.15 |
From Internet Sensation to Critique Magnet
Nusret Gokçe, known globally as Salt Bae, catapulted to fame with a viral Instagram video where his unique way of salting meat earned him the moniker, “the most handsome butcher on Instagram.” While amassing over 17 million views, the chef has also attracted criticism.
A notable incident during the 2022 World Cup final saw him controversially interact with the trophy, leading to a FIFA investigation. Additionally, his Boston restaurant’s 30% student discount on gold-plated steaks, which still exceeded $1,000 in final cost, drew public debate.
Despite these challenges and criticisms, Nusret Gokçe continues to be a remarkable figure in the culinary world, balancing a high-profile brand with significant business pivots.
