Brazilian-Lebanese banker and multibillionaire Joseph Safra was located in Switzerland and headed the Safra Group, a Brazilian banking and financial conglomerate. All Safra businesses, including the Safra National Bank of New York and the Banco Safra with headquarters in So Paulo, Brazil, were led by Joseph Safra.
Safra was listed as the richest person in Brazil and the 52nd richest person in the world by Forbes in August 2020, with an estimated net worth of US$22.8 billion. The banking and investment behemoth Safra Group was run by Safra. All Safra businesses, including Safra National Bank of New York and Banco Safra, with offices in Sao Paulo, Brazil, are headed by Safra.
Joseph Safra Bio/Wiki
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Joseph Safra was born and reared in Beirut, Lebanon, to a Sephardic Jewish family with ties to the banking industry dating back to Ottoman times. The family was originally from Lebanon and Syria. Caravan trade between Aleppo, Beirut, Alexandria, and Istanbul during the Ottoman Empire is where the family’s career in banking first began.
In 1952, the Safra family relocated to Brazil. On January 1st, 1938, Joseph Safra was born in Aleppo, Syria. Safra was raised in Beirut, Lebanon, and comes from a Jewish Lebanese family with banking ties to the Ottoman era. In 1952, the Safra family relocated to Brazil. By financing assets in So Paulo, Joseph’s father, Jacob Safra, and his brother, Edmond Safra, who was then 23 years old, began working in Brazil.
Joseph Safra Personal Life
Jacob Safra, a banker of Lebanese descent, was Joseph’s father. He worked in the banking and gold trading industries and served the Alexandria, Aleppo, and Istanbul regions. Jacob, who had ties to the Ottoman Empire, wed his cousin Esther, with whom he had eight children in all—four sons and four daughters.
Their third child was Joseph. Joseph’s brother Edmond, together with their father Jacob, was in charge of establishing the family business in Brazil. Lily Watkins was his wife. The majority of Edmond’s wealth was donated to his charity, the Edmond J. Safra Philanthropic Foundation. Moise, who was younger than Joseph, worked in banking like the rest of his family.
Evelyn Safra was the eldest daughter of Jacob and Esther Safra and the sister of Joseph. Gabi was Joseph’s other sister. Arlette is the third sister of Joseph. The youngest Safra sister that Joseph has is Ughlette. Vicky and Joseph are parents to a daughter and three sons. They only have one daughter, Esther, and three sons, Jacob, Alberto, and David.
Joseph Safra Education
It is claimed that Joseph was sent to England to get his education as a result of this and his father’s considerable wealth, though the Safra have never verified this due to their well-known reclusiveness.
By financing assets in So Paulo, Joseph’s father, Jacob Safra, and his brother, Edmond Safra, who was 23 years old, began working in Brazil. The Republic National Bank of New York was established in New York City by Edmond Safra, who soon left his brothers Joseph and Moise behind.
In 1999, he sold the bank to HSBC and gave the majority of the proceeds to the Edmond Safra Foundation. In 1955, Joseph Safra established Banco Safra, which is currently listed as Brazil’s sixth-largest private bank. Joseph Safra bought his brother Moise Safra’s remaining Banco Safra stock in 2006.
Until the end of the year, he served as the chairman of the Safra Group, which provides banking services across Europe, North America, and South America. Joseph and Moise Safra, Edmond Safra’s brothers, split up. The Republic National Bank of New York was established by him after he arrived in New York.
In 1955, Joseph Safra established Banco Safra, which is currently listed as the sixth-largest private bank in Brazil. He continues to serve as the chairman of the Safra Group, which provides banking services across Europe, as well as in North and South America. His brother Moise Safra sold him the remaining interests of the Safra Group firms.
In Fibria Celulose, the two brothers still own stock. More than a dozen homes in the United States, mostly in New York City, were purchased by his family in 2013. They also have a collection of Brazilian commercial properties. He is regarded as one of the best secret keepers, which helped his financial firm and empire expand in astounding leaps and bounds.
He had worked hard to make his bank one of the greatest in the industry and one of the most reputable financial organisations in the world. Joseph Safra is a multifaceted businessman who also enjoys giving back to the community through his charity, the Edmond J. Safra Foundation.
The foundation continues to make significant financial contributions to charities all across the world. He is regarded as one of the best secret keepers, which helped his financial firm and empire expand in astounding leaps and bounds. He had worked hard to make his bank one of the greatest in the industry and one of the most reputable financial organisations in the world.
Joseph Safra is a multifaceted businessman who also enjoys giving back to the community through his charity, the Edmond J. Safra Foundation. The foundation continues to make significant financial contributions to charities all across the world.
He is a highly well-known philanthropist in Brazil and is still regarded as one of the most successful businessmen to ever live. He is a highly well-known philanthropist in Brazil and is still regarded as one of the most successful businessmen to ever live.
Joseph Safra Conflicts
Joseph Safra, the richest banker in the world, has been indicted by Brazilian authorities for allegedly agreeing to pay more than $4 million in bribes to tax auditors in order to lower or eliminate penalties on unpaid taxes. In a statement released on Thursday, the Federal Prosecutor’s Office said that Safra was aware of a 2014 scheme by executives at Banco Safra to pay 15.3 million reals ($4.25 million) in bribes.
Former bank executive Joao Inacio Puga, who is accused of negotiating the bribe-payment scheme, is also charged. Despite the fact that recorded conversations revealed Puga reporting to Safra on the bribery talks, the prosecution claimed Safra was not personally participating in the bribery negotiations.
In a statement, the Safra Group, the investment holding company for Safra, said that the accusations made by the prosecutors were “unfounded” and that neither an enticement nor any benefits were given to the Safra Group or auditors. Forbes Magazine has pegged Safra’s wealth at $18 billion.
Joseph Safra Net Worth
Nevertheless, Joseph Safra’s net worth was estimated to be $22.8 billion, regardless of the cost of the aforementioned mega-mansion. Safra was listed as the 52nd richest person in the world by the renowned Forbes magazine, despite not being on the Forbes list of billionaires.
The world’s richest people had dabbled in real estate, regardless of the initial industry they picked. Rich people in the sector include Sharelle Rosado and Richard Kurtz. Many were motivated by their humble beginnings to work toward financial security and, with any hope, to compete for the title of richest person in America.
In the case of Joseph Safra, his real estate interests, which total no less than $2.2 billion, are dispersed throughout the United States, Europe, and the British Isles. The Lebanese-Brazilian entrepreneur bought Bank Sarasin in Switzerland for $2.15 billion in 2011 and renamed it the Joseph Safra Sarasin Bank, in addition to the Gherkin Tower in London (Bank J. Safra Sarasin Ltd).
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Joseph Safra Death
As he aged, Joseph Safra developed into an even more giving philanthropist, making significant contributions to the underprivileged, war victims, and Jewish causes (often the building of new synagogues). Joseph maintained control of his empire far into his seventies and eighties, regularly working through the night, on the weekend, and on holidays and developing a reputation as a workaholic.
Even on family vacations, he wouldn’t go. Sadly, his “work hard, no play” attitude had a negative impact on his health, and he was eventually given a Parkinson’s disease diagnosis. Joseph was extremely secretive and paranoid, and like his brother Edmond, he surrounded himself with Mossad-trained bodyguards to keep anyone from attacking him or his family as a result of his enormous wealth.
Joseph Safra, 82, passed away from natural causes in his home in So Paulo on December 10, 2020. Later that day, his family and business jointly announced his passing on social media and through obituaries in media sources focused on finance.
Joseph was the last one of his three brothers still operating a firm when he passed away, earning the nickname “Last Safra standing”; Moise was replaced by a non-executive director, and Edmond was assassinated in December 1999.
How much was the net worth of Joseph Safra?
Who was Joseph Safra’s wife?
What was Joseph Safra’s age?
82 years (passed in 2020)
What was the name of the Joseph Safra firm?
J. Safra Group