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Gustavo Cisneros

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Gustavo Cisneros
Born
Gustavo Alfredo Jiménez de Cisneros y Rendiles

(1945-06-01) 1 June 1945 (age 81)
Venezuela
Died29 December 2023(2023-12-29) (aged 78)
New York City, United States
Occupation(s)Entrepreneur, businessman
Years activec. 1970–2023
Known forChairman of Grupo Cisneros; media and entertainment industry leadership; philanthropy

Gustavo Alfredo Jiménez de Cisneros y Rendiles (1 June 1945 – 29 December 2023) was a prominent Venezuelan entrepreneur who served as Chairman of Grupo Cisneros. Once ranked as a billionaire, his net worth reached an inflation-adjusted high of US$6.0 billion in 2007; nevertheless, by 2020, he had dropped off the billionaires' list due to the extended economic downturn affecting Venezuela and its impact on his wealth.

Early life and education

Born on 1 June 1945, Cisneros was the son of Diego Cisneros and Albertina Cisneros (née Rendíles Martínez). His father, Diego, had been active in Caracas business circles since 1929, acquiring the Pepsi franchise for Venezuela in 1940 and later founding the private television channel Venevisión in 1961. In the 2006 Forbes rankings, the Cisneros family was recognized as the wealthiest in South America.

Cisneros completed his secondary education at Suffield Academy in Connecticut in 1963 and obtained a degree from Babson College in Massachusetts by 1968.

Grupo Cisneros

Grupo Cisneros stands as one of the largest privately owned media and entertainment companies worldwide, with its headquarters established in Coral Gables, Florida since 2000.

At just 25 years old, Cisneros assumed the presidency of Grupo Cisneros. His fortune stemmed from diverse investments spanning media, telecommunications, consumer goods, and entertainment sectors. The company is a dominant force within Spanish-language media and entertainment industries.

He held a significant stake in Univision, the leading Spanish-language television network in the United States prior to its acquisition. Additionally, he owned Venevision International, which handled global media production and distribution, along with Venevisión, a major Venezuelan TV broadcaster. Since 1980, the group has also managed the Miss Venezuela pageant and has owned the Leones del Caracas baseball team since 2001.

A strong advocate for free-market principles, Cisneros expanded his business footprint beyond Venezuela into key international markets such as the United States, Spain, and China.

In August 2013, he appointed his daughter Adriana Cisneros de Griffin as CEO of Cisneros.

Before his passing, he was spearheading Tropicalia, a multibillion-dollar resort project located in Miches, approximately 80 kilometers northwest of Punta Cana in the Dominican Republic. The resort's inauguration is planned for 2026.

Ranked among the globe’s wealthiest by Forbes, his net worth was valued at US$1.1 billion in 2019—a decline from a secondary peak of US$4.4 billion in 2014 and his highest recorded valuation of US$6.0 billion in 2007.

Politics

Initially, Cisneros and Hugo Chávez shared a supportive alliance, with Cisneros backing Chávez's early presidential bids. However, their relationship deteriorated as Chávez engaged in confrontations with the media. Subsequently, Cisneros faced allegations of participating in the 2002 Venezuelan coup d'état attempt against Chávez.[1] During this period, questions also arose concerning his connections to Chávez.[2]

Philanthropy

Cisneros is a patron of two primary charitable organizations: Colección Patricia Phelps de Cisneros and Fundación Cisneros.

The mission of Fundación Cisneros centers on educational and cultural initiatives designed to benefit Latin American communities. Among its prominent programs are AME, which advances educators' professional skills; visual arts education inspired by the Colección Patricia Phelps de Cisneros; the PPV visual thinking curriculum tailored for students; and exhibitions showcasing Latin American artists that tour North America and Europe.[3][4]

Established by Patricia and Gustavo Cisneros following their marriage in 1970, the Colección Patricia Phelps de Cisneros is a private Latin American art collection with bases in Venezuela and New York City. The collection comprises more than 2,000 pieces, including roughly 200 Spanish colonial artifacts and a substantial array of Amazonian ethnographic works.[5] It highlights creations from distinguished artists such as Uruguay's Joaquín Torres-García, Brazil's Lygia Clark, and Venezuelan modernists like Jesús Rafael Soto, Alejandro Otero, and Carlos Cruz-Diez.

Efforts to establish a permanent venue in Caracas were discontinued after Chávez assumed office. In 2007, the foundation encountered governmental opposition when attempting to loan artworks by Venezuelan painter Armando Reverón to New York's Museum of Modern Art for a major retrospective—the first dedicated to a single Latin American artist at the museum in five decades.[6]

Personal life

From 1970 until his passing, Cisneros was married to Patricia Phelps de Cisneros, who has been a significant donor and trustee at the MoMA since 1992. Her contributions have played a vital role in the museum's renovation efforts, including an exhibition space named in her honor. Their art collection has also supported institutions such as the Los Angeles County Museum of Art, the Hammer Museum, Long Beach's Museum of Latin American Art, and Madrid's Museo Reina Sofía. Patricia remains actively engaged in global art communities, holding positions like membership on the International Council of Tate, London, and trusteeships at organizations including the Fundación Amigos del Museo del Prado.

From the 1990s onward, Cisneros lived in the Dominican Republic. He held citizenships from Venezuela, the United States, Spain, and the Dominican Republic.

Through his paternal ancestry, Cisneros is descended from Pablo de Hita y Salazar, who served as the 27th Governor of La Florida (1674–1680). In honor of his father Diego Cisneros, he authored a publication chronicling the history of the Cisneros family.

Passing

Gustavo Cisneros passed away on 29 December 2023 in New York City at the age of 78. According to the Spanish publication El País, pneumonia, which developed as a complication after spinal surgery, was the cause of death. His company, Cisneros Media, announced his passing on social media, describing him as a "visionary leader" celebrated for his strategic foresight and innovative approach.

Awards and Decorations

  • 1979: Orden Isabel la Católica, Grade of Encomienda – Spain
  • 22 January 1999: Orden Nacional al Mérito, Officer Grade – Ecuador
  • 1980: Knight of the Sovereign Military Order of Malta, Gracia Magistral – Italy
  • 23 November 1982: Orden Mérito al Trabajo, First Class – Venezuela
  • 1983: Orden Francisco de Miranda, First and Second Class – Venezuela
  • 12 January 1984: Orden Andrés Bello, Band of Honor – Venezuela
  • 16 May 1984: Orden Isabel la Católica, Grade Encomienda de Número – Spain
  • 12 June 1984: Orden del Libertador, Grand Officer, Second Class – Venezuela
  • December 1990: Orden del Libertador, Grand Cordon – Venezuela
  • 30 October 2004: Colombian Congressional Order at Officer Grade; Simón Bolívar Order of Democracy in Grand Cross – Colombia
  • Orden Diego de Losada, First Class – Venezuela
  • Orden al Mérito del Ministerio Público, First Class – Venezuela
  • Key to the City of Cartagena de Indias – Colombia
  • Cultura Campesina Colombia ACPO – Colombia

Recognitions

  • 2000: Golden Plate Award from the American Academy of Achievement
  • 2001: International Emmy Directorate Award recipient
  • 2004: Woodrow Wilson Award for Public Service presented by the Smithsonian Institution
  • 2005: Named MIPCOM Personality of the Year
  • Advertising Educational Foundation Lifetime Achievement Award honoree
  • 2015: NATPE Brandon Tartikoff Legacy Award (shared with daughter Adriana Cisneros)
  • 2017: Conferred Doctor of Humane Letters by the University of Miami

Roles in Leadership

  • Chairman's International Advisory Council member at Americas Society
  • Overseer Board member at Babson College
  • Director at Barrick Gold Corporation; participant in International Advisory and Compensation Committees; Chair of Corporate Governance and Nominating Committee
  • Trustee at Cardinal Cisneros Foundation
  • Member of the Council for the Atlantic Institute of Government
  • Commissioner for the Global Information Infrastructure Commission (GIIC)
  • Advisor to Haiti’s Presidential Council on Economic Growth and Investment
  • Advisory Committee member at Harvard University’s David Rockefeller Center for Latin American Studies
  • Member of the Ibero-American Council for Productivity and Competitiveness
  • Overseer Board member at International Center for Economic Growth
  • Member of University Council at Rockefeller University
  • Senior Advisor to RRE Ventures LLC
  • Charter Member of United Nations Information and Communication Technologies (ICT) Task Force

Former Positions

See also

Further reading

  • Pablo Bachelet with Carlos Fuentes (introduction), Gustavo Cisneros: Un empresario global, Planeta, 2004 (in Spanish)
  • Pablo Bachelet and Carlos Fuentes (foreword), Edith Grossman (translator), Gustavo Cisneros: Pioneer, Planeta, 2004 (English edition)
  • José Ángel Rodríguez and Carmen Iglesias (introduction), Julio Ortega (afterword), Los Cisneros: rostros y rastros de una familia, Fundación Cisneros, 2015 (Spanish language)
  • José Ángel Rodríguez Luis and Carmen Iglesias (introductory remarks), Julio Ortega (closing remarks), Jenny Dodman (translator), Cisneros: A Family History (1570-2015), Fundación Cisneros, 2015 (English translation)
Video
  • Fundación Global Democracia y Desarrollo (FUNGLODE), "3ra Cátedra de Liderazgo Empresarial Gustavo Cisneros", 2012 (in Spanish)
  • Interview with Gustavo Cisneros by Bloomberg Markets, Bloomberg L.P., 2012

External links

  1. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named SilenceAndTheScorpion-2009
  2. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named NYTimes-Chavez-2002
  3. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named FundacionCisneros-QuienesSomos-AboutUs
  4. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named ExpansionMexico-CisnerosArt-2007
  5. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named Spreading the riches
  6. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named An art trove ends its nomadic phase
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