Cuban-American capital now has a presence in infrastructure, real estate, healthcare, food, automotive, media, entertainment, and sports, driven by entrepreneurs and families who have built their businesses over several generations—primarily in Florida and other U.S. markets. This process began after 1959, when thousands of Cubans rebuilt their economic lives in the United States, and it took on new dimensions in subsequent decades as Miami grew in importance as a financial, real estate, and cultural hub for Latin America.
The history of this business community has unfolded in several stages. First came the rebuilding of wealth by those who arrived after the Cuban Revolution. Next came a generation that expanded businesses and channeled capital into new industries. Today, a third stage is underway, characterized by family succession, expansion into other states, and a presence in sectors such as technology, healthcare, sports, media, and high-end real estate.
This journey also transformed the relationship between wealth and the city. Some of these families built companies. Others participated in urban development projects. Many funded educational institutions, hospitals, museums, and foundations. Their influence extends to economic and cultural spheres that go far beyond their own enterprises.
Cuban-American entrepreneurs who transformed their sectors
Jorge Mas
Jorge Mas represents one of the most visible figures of this new generation of entrepreneurs. He is the chairman of MasTec, a company involved in projects spanning energy, electrical transmission, telecommunications, and other infrastructure areas. The company grew out of the firm founded by his father, Jorge Mas Canosa.
His other major project is in the sports world. Mas is the managing owner of Inter Miami CF. The arrival of Lionel Messi boosted the club’s commercial profile and expanded its reach beyond the MLS. The entrepreneur is also spearheading Miami Freedom Park, a project that includes a stadium, hotels, offices, retail space, and a large public park.
The Fanjul Family
The Fanjul family represents one of the longest-standing business legacies among Cuban-Americans. Their wealth originated in the Cuban sugar industry. After the expropriation of their properties following 1959, family members rebuilt their businesses in the United States and the Caribbean.
Florida became one of their primary operational hubs. Florida Crystals became part of this new corporate structure. The family also became linked to Domino Sugar, one of the best-known brands in the U.S. sugar market.
Jorge Pérez
Jorge Pérez was born in Argentina to Cuban parents. He founded The Related Group and played a role in the expansion of residential condominiums, initially with projects targeting various market segments and later with high-end properties.
His projects contributed to the vertical growth of various parts of the city. The company has developed tens of thousands of housing units. His influence extended to the art world as well; his support for the Pérez Art Museum Miami bolstered the city’s presence within the U.S. cultural circuit. In this way, his business activities became intertwined with Miami’s cultural life.
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Armando Codina
Armando Codina built his career through Codina Partners. One of his best-known projects is Downtown Doral, a development that integrates housing, offices, retail, schools, and public spaces.
This initiative transformed the use of an area that previously lacked a unified focus. The project incorporated various services within a single area, creating a new central hub for residents and workers.
Real estate investment shifted from small-scale retail or individual buildings to large-scale developments capable of transforming land use across vast areas.
Carlos de la Cruz
Through CC1 Companies, Carlos de la Cruz engaged in the beverage bottling and distribution business, with operations linked to Coca-Cola in Puerto Rico and other parts of the Caribbean.
Mike Fernández
Mike Fernández became one of the best-known Cuban-American entrepreneurs in the healthcare sector. He founded MBF Healthcare Partners and developed a strategy based on acquiring and expanding companies in the medical services sector.
His business model begins by identifying areas with growth potential within the U.S. healthcare system. He then integrates various operations and seeks to scale up the business prior to an eventual sale.
Frank Rodríguez
Frank Rodríguez built his career in the automotive sales industry. Greenway Automotive Group expanded from Florida to establish operations in various U.S. states, including Alabama and Missouri, South Carolina, Georgia, Tennessee, and Texas.
Their case also illustrates the scaling up of certain Cuban-American enterprises. The first generation built businesses in Miami and the surrounding areas, while subsequent generations expanded those companies into other states, adopting much broader operational models.
Emilio and Gloria Estefan
Gloria and Emilio Estefan’s primary contribution lies in the cultural industry. For decades, they brought Latin music to audiences that previously had limited exposure to artists of Hispanic heritage.
Their business activities expanded to include music production, rights management, live entertainment, restaurants, hotels, and real estate. The couple also transformed their personal and cultural story into a recognizable brand.
Their careers helped demonstrate that Cuban identity could play a significant role in a cultural industry with international reach.
Armando Guerra and Sedano’s
The family behind Sedano’s Supermarkets built one of the most iconic businesses serving Cuban and Latino consumers in Florida. Their stores offer products associated with Cuban and Latin American cuisines; this product selection fostered a unique bond with generations of immigrants and their families. Although Armando Guerra has passed away, his fortune remains, and Sedano’s Supermarkets currently continues to operate in Florida under the leadership of the Herrán family, with Agustín Herrán serving as president and CEO.
Alex Meruelo
Born in New York to Cuban parents, Alex Meruelo built his business career primarily in California. His group holds interests in real estate, construction, media, food services, banking, and entertainment.
His career began with businesses targeting Latino consumers, but he later expanded his investments into vastly different sectors. Diversification became a defining characteristic of his business group.
The stories of these entrepreneurs reveal a transformation that began with the need to rebuild wealth and culminated in the creation of companies capable of shaping entire industries. Cuban-American capital found a second economic opportunity in the United States. Over successive generations, that wealth became an integral part of the infrastructure, culture, and urban life of various cities.
