[18] Until the buyout of Univision, the United States’ leading Spanish-language television network, Cisneros was one of the biggest shareholders of the Company.

He also owned Venevision International, which produces and distributes media and entertainment products throughout the world, and Venevisión, a Venezuelan television network.

[citation needed] Long an advocate of free enterprise[8][9]: 259  Cisneros for many years expanded his operations outside of Venezuela and into overseas markets, including the U.S., Spain and later China.

[20][21] Before his death, Cisneros was developing Tropicalia, a multibillion-dollar resort in Miches, 80 kilometres (50 mi) northwest of Punta Cana, Dominican Republic.

[citation needed] Fundación Cisneros runs a wide range of educational and cultural programs aimed at improving the lives of Latin Americans.

[28] Colección Patricia Phelps de Cisneros is a privately held Latin American art organization based in Venezuela and New York City.

[29] Based in New York and Caracas, the Colección Patricia Phelps de Cisneros today also includes works by Uruguay's Joaquín Torres-García, Brazil's Lygia Clark and Venezuelan modern masters Jesús Rafael Soto, Alejandro Otero, and Carlos Cruz-Diez.

The Cisneros Foundation was moving toward building a permanent institution in Caracas in the late 1990s until Hugo Chávez was elected president.

In the statement, they expressed deep sorrow over his death, describing him as a "visionary leader whose influence extended far beyond the business realm", known for his strategic vision and commitment to innovation.