Eduardo Eurnekian Armenian-Argentine entrepreneur Country: Argentina

1. Biography of Eduardo Eurnekian
2. Overcoming Challenges and Building Success
3. Diversifying Investments
4. Expanding Influence
5. A Global Presence

Biography of Eduardo Eurnekian

Eduardo Eurnekian is an Armenian-Argentinian entrepreneur who was born into a family of Armenian immigrants. His family established a successful textile production company in Argentina and soon became one of the largest suppliers to the company 'Puma'. However, in 1981, Eurnekian, like many other textile entrepreneurs, faced challenges due to the new laws implemented by the Minister of Economy, Jose Alfredo Martinez de Hoz.

Overcoming Challenges and Building Success

As a result of the new laws, Eurnekian's family accumulated debts and acquired the struggling local cable station 'Cablevision S.A.'. Through Eurnekian's efforts and the actions of the new minister, Domingo Cavallo, who stabilized the Argentine economy, the station was able to recover. In 1994, Eurnekian sold 51% of the company's shares, which had become the second-largest in the country, to 'Tele-Communications Inc' for $350 million. In 1997, he further disposed of most of his remaining shares to the local investment group 'CEI Citicorp Holdings SA' for an additional $320 million.

Diversifying Investments

Currently, Eduardo Eurnekian holds a controlling stake in 'America TV', four radio stations, and the daily financial newspaper 'El Cronista'. In 1998, the consortium 'Aeropuertos Argentina 2000', led by Eurnekian, won a 30-year contract to manage the country's 33 largest airports. On December 17, 2001, Eurnekian's company 'Corporacion America' signed a 30-year contract with the Armenian government, granting him the right to manage Armenia's largest airports.

Expanding Influence

Eurnekian's company has already begun constructing a new terminal to enhance the service standards of the airport to international levels, with an estimated project cost of over $50 million. Furthermore, Eurnekian plans to invest several million dollars in the agricultural industry to transform barren lands in southern Armavir into flourishing fruit orchards and establish a fruit processing factory nearby.

A Global Presence

Currently, Eduardo Eurnekian controls, to varying degrees, 76 airports worldwide, and owns approximately 2,000 square kilometers of land in South America.