Joseph Safra

Joseph Safra
Joseph Safra
Born	September 1, 1938 (age 88); Beirut, Lebanon
Died	December 10, 2020 (aged 82); São Paulo, Brazil
Occupation(s)	Banker, entrepreneur
Years active	1955–2020
Known for	Chairman of Safra Group, Brazil's wealthiest individual, richest banker worldwide

Joseph Safra (; 1 September 1938 – 10 December 2020) was a Lebanese Brazilian banker of Syrian heritage who lived in Switzerland and was recognized as a billionaire entrepreneur. He held the title of Brazil's wealthiest individual as well as the richest banker worldwide, overseeing the extensive Brazilian banking and investment conglomerate known as the Safra Group.

Safra served as chairman for all companies under the Safra umbrella, including Safra National Bank of New York and Banco Safra, which is based in São Paulo, Brazil. As of August 2020, Forbes valued his fortune at approximately US$22.8 billion, placing him 52nd among the richest globally and as the leading billionaire in Brazil.

Early life

Born in Beirut, Lebanon, Joseph Safra belonged to a Jewish family originally from Aleppo, Syria, with ancestral ties to banking dating back to the Ottoman era. The family's financial activities began in Aleppo around 1841, where they engaged in funding trade and currency exchange along vital commercial corridors connecting the East with Europe, Persia, and Central Asia. In 1952, the Safra family moved to Brazil, laying the groundwork for their international banking ventures.

Career

In 1955, Joseph’s father, Jacob Safra, together with his brother Edmond Safra, commenced financing operations in São Paulo, Brazil. Edmond later parted ways with Joseph and Moise to establish the Republic National Bank of New York in New York City, which he eventually sold to HSBC in 1999; much of his wealth was donated to the Edmond Safra Foundation. That same year, Joseph founded Banco Safra, which has grown into Brazil’s sixth largest private bank. By 2006, Joseph had acquired full ownership of Banco Safra by purchasing shares from his brother Moise Safra. He led the Safra Group, providing financial services across Europe, North America, and South America until his passing.

Property

As of 2013, the Safra family portfolio included over a dozen real estate holdings in the United States, predominantly located in New York City, along with commercial properties throughout Brazil. In 2014, Joseph acquired London’s iconic skyscraper The Gherkin for more than £700 million. He also proposed constructing the Tulip tower in London; however, this project was declined by the city's mayor in 2019. Furthermore, he established Beit Yaacov, a Jewish Brazilian educational institution, in 2001.

Business holdings

Personal life

Joseph Safra lived in Geneva, Switzerland. In 1969, he married Vicky Sarfati, and they had four children: Jacob J. Safra, (spouse not specified), Alberto J. Safra, and David J. Safra. Jacob managed international branches of their business while David took charge of Banco Safra’s operations within Brazil.

Joseph Safra passed away on 10 December 2020 in São Paulo at age 82 after a prolonged struggle with Parkinson's disease.

External links

Introducing Joseph Safra: The Wealthiest Banker Worldwide and The Safra Family: The Enigmatic Dynasty Behind the World's Richest Banker featured on Business Insider