Eduardo Elsztain

Quick Facts

Full Name	Eduardo Elsztain
Occupation	Businessman
Date Of Birth	Jan 26, 1960(1960-01-26)
Age	64
Birthplace	Buenos Aires
Country	Argentina
Horoscope	Aquarius

Eduardo Elsztain Biography

Eduardo Elsztain is one of the most popular and richest Businessman who was born on January 26, 1960 in Buenos Aires, Argentina. Eduardo Sergio Elsztain was born in Buenos Aires in 1960. His grandfather, Isaac Elsztain, had left Russia in 1917, after the Russian Revolution, and settled in Argentina, where he purchased various properties. He founded Inversiones y Representaciones S.A. (“Investments and Brokerage, Inc,” or, IRSA) in 1943 as an independent realty firm. The younger Elsztain graduated from the Buenos Aires National College, a prestigious public secondary school, and enrolled in the University of Buenos Aires School of Economics, though in 1981, upon the death of his uncle, who had been managing the family realty, he dropped out of university to manage the firm, which was struggling at the time.

Soros became a leading investor in IRSA. The partnership with Soros became profitable for both parties, as the Argentine economy recovered during the 1990s from the severe stagflation of the previous decade. Within four years Elsztain had raised $110 million and acquired “office buildings and shopping centers in Argentina, including the Alto Palermo Shopping Mall.” Elsztain’s meeting with Soros has been described as the turning point in his career. He has been called “Soros’ golden boy.” In 1992-94, Soros helped Elsztain gain control of Cresud, a leading landowner of prime pampas agricultural land, and served as his partner in the firm for many years. IRSA entered the international equity markets with Soros’s backing in 1994. Losses stemming from the economic crisis that began in 1998 led the Soros Fund Management to divest most of its IRSA interests by late 1999. In total, Elsztain worked for over a decade with Soros.

Elsztain married psychologist Mariana Carmona in 1991. They have had four children and live in the neighborhood of Belgrano, where he has lived all his life.

The strong recovery in the Argentine economy after 2002 then fostered growth into the mortgage-lending sector, with the purchase of 28% of the formerly state owned Banco Hipotecario, and among its shopping centers, which, as the source of half of IRSA’s revenues, boosted the firm’s income; in 2008, it developed Dot Baires, a 190,000m² (2 million ft²) shopping center and the largest building of its kind in Argentina. Elsztain reportedly “did a good job of exploiting the real estate boom in Argentina” from 2006-2010. During this period IRSA’s share price rose 155 percent and the firm came to be worth more than half a billion dollars. Between July 2011 and July 2012, IRSA netted $61 million. IRSA now owns most of the shopping malls in Argentina, including the largest mall, Alto Palermo, and several iconic buildings and hotels.

IRSA became a leading local real-estate development firm during the 1990s, purchasing 13 up-market Buenos Aires office buildings and a leading local shopping-mall developer, Alto Palermo S.A. (APSA). Through APSA, the group purchased important tourist assets such as the Llao Llao Hotel, a Bariloche mountain resort privatized in 1997, and a number of shopping malls, including Abasto Shopping (Buenos Aires), Alto Avellaneda (Avellaneda), Alto NOA (Salta), Alto Rosario (Rosario), Buenos Aires Design (Buenos Aires), Shopping Córdoba (Córdoba), Dot Baires Shopping (Buenos Aires), Mendoza Plaza (Mendoza), Paseo Alcorta (Buenos Aires), Patio Bullrich (Buenos Aires), Patio Olmos (Córdoba), Soleil Factory (Boulogne). The Alto Palermo mall in Buenos Aires is the largest mall in Argentina. Alto Palermo SA also has a subsidiary, Tarshop SA, that issues a credit card, Tarjeta Shopping. IRSA now holds 12 percent of Tarshop. It also owns 10 percent of the Argentine real estate firm TGLT.

Eduardo Elsztain Net Worth

Eduardo Elsztain is one of the richest Businessman from Argentina. According to our analysis, Wikipedia, Forbes & Business Insider, Eduardo Elsztain 's net worth $5 Million. (Last Update: December 11, 2023)

Eduardo Sergio Elsztain (born January 26, 1960) is a prominent Argentine businessman who is his country’s largest real-estate developer. According to the Jerusalem Post, Elsztain “stands atop Argentina’s largest business empire, the country’s leader in real estate and agriculture, which he built with his own two hands.”

Elsztain lived in New York in 1989-90. During that period, in 1990, he “talked his way into a meeting with the legendary investor George Soros,” according to Haaretz. Another source states that Elsztain met Soros “through contacts…in the Jewish community in Buenos Aires.” In any event, Soros “was persuaded to let the ambitious young man manage $10 million for him,” which Elsztain did “with great success.” Speaking to the Jerusalem Post in 2013, Elsztain himself described “the moment…that changed his career” as follows: “I somehow managed to land a meeting with George Soros, a very rich man. We talked for an hour or so, and then he asked me how much money I thought I could handle. I told him I could manage $10 million, and he said ‘Okay, no problem!’” Soros told the Post that Elsztain, despite his youth and inexperience, “knew when to sell and when to buy.” This encounter precipitated Elsztain’s quick “leap from utter anonymity to Argentina’s business elite.”

Elsztain is Chairman, CEO, and a Member of Executive Committee of IRSA, titles he has held since 1991. He is Chairman and a Member of the Executive Committee of Cresud, titles he has held since 1994. He is Chairman and President of the Executive Committee of Alto Palermo S.A., titles he has held since 1994. He is Chairman and Director of Banco Hipotecario SA (of which he has also served as Vice Chairman), titles he has held since 1999. He is also the Chairman of the Board and a Director of Brasilagro Companhia Brasileira de Propriedades Agrícolas. He owns IRSA, Cresud, and Hipotecario through his holding company IFISA. Today Elsztain controls Cresud, of which he owns 38 percent, and owns 65 percent of IRSA through Cresud. IRSA is traded on the New York and Buenos Aires stock exchanges. As of 2013, Cresud was trading on NASDAQ at a value of $370 million. “Except for its holdings in IRSA,” according to Haaretz, Cresud “is an agriculture business of only moderate profitability.” Today Cresud owns 23 million square meters of land and “focuses on acquiring grain and cattle farms, and on milk production.” During the first decade of the 21st century it was named Argentina’s largest meat and grain manufacturer, but it has since sold off some of its farms.

Height, Weight & Body Measurements

Eduardo Elsztain height Not available right now. Edward weight Not Known & body measurements will update soon.

Who is Eduardo Elsztain Dating?

According to our records, Eduardo Elsztain married to Mariana Carmona. As of December 1, 2023, Eduardo Elsztain’s is not dating anyone.

Relationships Record : We have no records of past relationships for Eduardo Elsztain. You may help us to build the dating records for Eduardo Elsztain!

IRSA bought 30% of New York’s Lipstick Building (885 Third Avenue) in 2007, and in November 2010 increased his stake to 49%. His close friend Rabbi Yoshiyahu Pinto “reportedly brokered the deal in which Elsztain bought the Lipstick Building in Manhattan from Ilan Ben Dov, as a result of which Elsztain became the partner of another businessman close to Pinto − Jacky Ben Zaken.” It was also Pinto who arranged for him to meet Nochi Dankner and who mediated discussions of the Ganden acquisition of Israel’s IDB Group.

Facts & Trivia

Edward Ranked on the list of most popular Businessman. Also ranked in the elit list of famous people born in Argentina. Eduardo Elsztain celebrates birthday on January 26 of every year.

The media took note of a May 2008 meeting between Elsztain and President Cristina Fernández de Kirchner that lasted “more than an hour.” Elsztain reportedly became a regular visitor to the presidential offices at the Casa Rosada. In April 2013, when one of Elsztain’s malls was accused of exacerbating nearby flooding, a report indicated that Elsztain planned to raise the matter at a meeting with Kirchner. One source has identified Elsztain as “a strategic ally of the government of Cristina Fernández de Kirchner.” His business entities receive financial subsidies from ANSES, the Argentine government’s social insurance agency, through an affordable home mortgage program called PRO.CRE.AR (Programa Crédito Argentino). Through Banco Hipotecario, Elsztain and the government jointly run housing construction programs.