Joseph Safra


Joseph Safra is a Brazilian of Lebanese Jewish origin billionaire banker who runs the Brazilian banking and investment empire, Safra Group. He is the chairman of all Safra companies, among them Safra National Bank of New York and Banco Safra headquartered in São Paulo, Brazil. As of July 26, 2020, American business magazine, Forbes reported that Safra has an estimated net worth of USD$22.8 billion ranking him 52th richest person in the world and the richest in Brazil.. He is of Lebanese Jewish origin, and comes from the Safra family.

Early life

Joseph Safra was born in Beirut, Lebanon to a Sephardic Jewish family with banking connections dating back to Ottoman times, and grew up in Beirut, Lebanon. The family's history in banking originated with caravan trade between Beirut, Aleppo, Alexandria and Istanbul during the Ottoman Empire.
The Safra family moved to Brazil in 1952. In 1955, Joseph's 23-year-old brother, Edmond Safra, and his father, Jacob Safra, started working in Brazil by financing assets in São Paulo. But soon, Edmond Safra separated from his brothers Joseph and Moise and headed to New York where he founded the Republic National Bank of New York. Joseph Safra founded Banco Safra in 1955 and today it is reportedly the 6th largest private bank in Brazil. He remains the chairman of the Safra Group offering banking services throughout Europe, North and South America.
Joseph Safra acquired the remaining shares of Safra Group companies from his brother Moise Safra. The two brothers maintain a shareholding in Fibria Cellulose.

Personal life

He has four children: Jacob J. Safra, , Alberto J. Safra, David J. Safra. Jacob is responsible for all international operations outside of Brazil while David and Alberto, manage Banco Safra in Brazil.

Property

In 2013, Joseph Safra's family acquired more than a dozen properties in the U.S., primarily in New York City. They also own a portfolio of commercial real estate in Brazil. In 2014 Safra paid more than £700 million to buy The Gherkin – one of the most distinctive towers in the City of London.

Business holdings