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Three Armenian Businessmen in the Forbes List

The Forbes magazine has published its annual Billionaires 2018 ranking with three Armenian businessmen.

Samvel Karapetyan

  • Owns $2.8 billion (sales) Tashir Holding, a commercial real estate developer.
  • Karapetyan was born in Armenia but came to Russia in the 1990s and settled in the town of Kaluga.
  • A long time subcontractor of Gazprom, Tashir also has state contracts to light the central streets in Moscow.
  • Karapetyan’s son Sarkis and daughter Tatevik are Tashir’s top managers. Tatevik is responsible for the development of its chain of movie theaters.
  • Karapetyan has built shopping centers in Armenia and last year bought electric power company, Armenian Electric Grids.

Sergei Galitsky

  • Is the founder of Magnit, one of Russia’s biggest supermarket chains and cosmetics retailers with more than 15,000 stores.
  • Galitsky was CEO of Magnit until February 2018 when he sold almost all of his shares in the company to the state bank VTB for $2.4 billion.
  • Galitsky got his start in 1994 as a perfume and beauty supplies wholesaler.
  • An admirer of Wal-Mart, he opened his first grocery store in 1998 and advertised using the slogan “Always Low Prices.”
  • He took the company public in 2006.

Eduardo Eurnekian

  • The son of Armenian immigrants to Argentina, first operated in the textile industry.
  • He delved into the cable TV business in the 1980s. His portfolio now includes radio stations, newspapers and a TV channel.
  • In the 1990s, he netted $750 million in the sale of Argentine TV firm Cablevision.
  • Under his Corporacion America, Eurnekian and partners own more than 50 airports around the world, bringing in reported revenues over $2 billion.
  • Other ventures include chip factory Unitech Blue, a biodiesel production facility and land in Armenia used for fruit production and wine.


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