Eduardo Eurnekian
Eduardo Eurnekian | |
|---|---|
| Born | December 4, 1932 Argentina |
| Occupation(s) | Entrepreneur, Businessman |
| Known for | Founder of Corporación América, major airport operator |
Eduardo Eurnekian (born 4 December 1932) is an Argentine entrepreneur of Armenian heritage and a billionaire. As of 2024, he holds the position of Argentina’s fourth wealthiest person, with an estimated net worth of $3.4 billion.
Early life
Eurnekian was born in Argentina to parents who had immigrated from Armenia. His family managed a prosperous textile enterprise that supplied Puma. Nevertheless, the business faced near collapse in 1981 due to the economic deregulation policies implemented by Minister José Alfredo Martínez de Hoz.
Career
The family incurred significant debt through loans from the former Argentine financial institution BANADE. In 1988, Eduardo took control of ‘Cablevisión S.A,’ a local cable television company that was then underperforming. The value of this investment rose considerably after the introduction of Economy Minister Domingo Cavallo’s 1991 Convertibility Plan, which stabilized the Argentine economy during the 1990s. By 1994, Eurnekian sold a majority 51% share in Cablevisión—Argentina’s second-largest cable operator—to Tele-Communications Inc. for $350 million and later, in 1997, divested most of his remaining shares to CEI Citicorp Holdings SA for $320 million.
Beyond cable television, Eurnekian held ownership stakes in América TV, four radio stations, and the Buenos Aires financial newspaper El Cronista. His business group, Aeropuertos Argentina 2000, won a 30-year concession in 1998 to manage 33 key airports across Argentina. He also acquired the master franchise rights for Howard Johnson's in Argentina from Cendant and invested in the regional carrier LAPA.
In 2001, Corporación América, under Eurnekian’s leadership, secured a three-decade contract to operate Zvartnots International Airport in Armenia. The corporation invested over $50 million to construct a new terminal adhering to international standards.
Eurnekian further expanded his agribusiness interests by initiating a $25 million joint venture with Armenia’s Max Group to transform 60 square kilometers of arid land in the Armavir region into fruit orchards along with a processing facility.
Since the early 1990s, he has developed a media empire valued at nearly $1 billion and holds majority ownership of a consortium that operates 76 airports worldwide, focusing mainly on Argentina, South America, and Armenia. Additionally, he owns approximately 2,000 square kilometers of land and food processing plants located in northern Argentina.
Awards
Throughout his career, Eurnekian has been honored with multiple awards such as Businessman of the Year (1995), Italy’s Leonardo Award (1999), and several prestigious Armenian accolades. In 2017, he was designated National Hero of Armenia and received the Oslo Business for Peace Award in 2012. In recognition of his efforts to enhance UK-Argentina relations, he was appointed Honorary Officer of the Order of the British Empire (OBE) in 2020.
On 4 February 2023, Florence’s Mayor Dario Nardella presented Eurnekian with the keys to the city, acknowledging his Argentine-Armenian background and his establishment of the Raoul Wallenberg Foundation as important cultural symbols.
Personal life
Eurnekian remains unmarried; his nephew Martin Eurnekian has been identified as his designated successor.