Behind Argentine President Javier Milei’s “chainsaw economics” stands the quiet power of Eduardo Elsztain, a devout Jewish oligarch with deep ties to Israel and Wall Street.
Eduardo Elsztain whispers to Shabbos Goy Javier Milei
Before his monumental victory against Sergio Massa in November 2023, Milei was an eccentric political analyst who had a flair for controversy and had sharply criticized the Argentine political establishment. Milei made a name for himself by appealing to libertarian principles and even naming his dogs after libertarian intellectual Murray Rothbard.
Before 2023, the idea of Milei becoming president of Argentina would have seemed far-fetched to casual political observers. But when one enters into a Faustian pact with Elsztain and the powerful networks of Argentina’s Jewish elite, even the most unlikely of political ambitions can suddenly materialize.
Elsztain is a prominent Argentine businessman who has been widely recognized as one of South America’s most influential Jewish leaders and business figures. Born on January 26, 1960, in Buenos Aires, Argentina, Elsztain has built a vast construction business empire while maintaining deep connections to Jewish communities worldwide and establishing significant ties to Israel......
...Elsztain has continued to offer Milei key platforms to engage with Argentina’s business elite. One notable example was the 2024 Llao Llao Forum, where Elsztain hosted Milei as a featured speaker before an audience of top CEOs.
Elsztain’s political activities have been complicated by his involvement in several high-profile international financial scandals. In the 2016 Panama Papers, he was named as operating offshore companies in the British Virgin Islands and other tax havens during the 1990s. These entities were reportedly used for Venezuelan real estate investments and were managed in partnership with his then-business associate Marcelo Mindlin.
The following year, the 2017 Paradise Papers further exposed Elsztain’s use of offshore structures. These included Latin America Capital Partners II LP in Bermuda, a fund connected to George Soros, as well as Elsztain Realty Partners Master Fund LP and Dolphin Global Fund, the latter based in the Isle of Man and holding $400 million in assets. These offshore dealings also revealed links to Luis Caputo, who served as Finance Minister under President Mauricio Macri and now holds the position of Economy Minister in Javier Milei’s administration.
Behind the libertarian theatrics and economic reform lies a deeper arrangement—one that speaks less to populist revolt and more to elite consolidation. In Javier Milei’s Argentina, it seems certain doors only open if you know the right rabbi.