[citation needed] In 1906 he joined the management of two companies, Skjálfanda and Gigant, formed to build and operate hydroelectric power plants, particularly the northern waterfalls of the Skjálfandafljót and Jökulsá á Fjöllum rivers.
In 1914 Einar Benediktsson was one of the founders of Fossafélagið Títan and three sister companies Sirius, Orion and Taurus, established to harness the power of the Þjórsá waterfalls.
[4] His translations include English, and American poetry, and a masterpiece in rendering Henrik Ibsen's epic, Peer Gynt, into Icelandic.
He has descendants living today in Iceland, other European countries, and the United States, most notably including former ambassador and namesake Einar Benediktsson (b.
Einar's statue, made in 1964 by Ásmundur Sveinsson, was moved in 2015 from Miklatún park, in Reykjavik, and now stands near the house.