Early Life
Eduardo Eurnekian was born in Buenos Aires, Argentina, on December 4, 1932, to Armenian immigrant parents. He grew up in a family involved in the textile trade. He joined the family business after completing his schooling, laying the foundation for his future entrepreneurial endeavors. However, the textile business nearly collapsed in 1981 due to Argentina's economic deregulation.
Rise to Success
Eurnekian's career took a significant turn in the 1980s when he ventured into the cable TV business, acquiring Cablevisión S.A. in 1988. Under his leadership, Cablevisión became Argentina's second-largest cable operator. In 1994, he sold a 51% stake in Cablevisión to Tele-Communications Inc. for $350 million, and in 1997, he sold most of his remaining shares to CEI Citicorp Holdings SA for $320 million.
The late 1990s marked another pivotal moment. Eurnekian, leading a consortium, secured a 30-year concession to build and operate 33 airports in Argentina. This venture, Aeropuertos Argentina 2000 (AA2000), propelled him to global prominence in the airport management sector.
Key Business Strategies
Eurnekian's business strategies have centered on diversification and strategic investments. His early success in the cable TV industry was followed by a move into airport management, where he became a leading private operator. He also invested in media outlets, including América TV, radio stations, and a financial daily, El Cronista. A key strategy was the expansion into the airport sector. This has been very successful with the number of passengers increasing at double the rate of GDP, and in some regions, as much as three times. Corporación América has developed businesses in Armenia, Italy, and Australia, as well as considering opportunities in India and Africa.
Philanthropy
Eurnekian is known for his philanthropic endeavors. In 2020, he donated $3.5 million to the Hayastan All-Armenian Fund. He established the Fruitful Armenia Charitable Foundation in 2011 to support education and women entrepreneurs. He has also been involved in charitable initiatives in Argentina, including donating $15 million for a hospital in Ezeiza in 2010.
