His investment became increasingly lucrative following Economy Minister Domingo Cavallo’s implementation of the Convertibility Plan in 1991, which brought financial and price stability to Argentina during the 1990s.

[2] Eurnekian also held controlling interest in "América TV", four radio stations and a Buenos Aires financial daily, El Cronista.

[4] Eurnekian unveiled plans to invest millions of dollars into Armenia's agribusiness sector as he set up a joint venture with a local firm.

Senior executives from Tierras de Armenia, a Yerevan-based company belonging to Eurnekian, and the Max Group (owned by Harutiun Pambukian, a parliamentarian close to former President Robert Kocharian), reported a US$25 million joint venture to develop 60 km2 (24 mi2) of arid land in the southern Armavir region into fruit orchards and a fruit processing plant.

Eurnekian has built an almost $1 billion media empire since the early 1990s and is now the majority owner of a consortium operating 76 airports worldwide, mostly across Argentina and elsewhere in South America as well as in Armenia.