Joseph Safra Net Worth is$13.8 Billion
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Profession: Businessperson
Country: Brazil
Net Worth: View Joseph Safra Net Worth
What is Joseph Safra's net worth? Joseph Safra's net worth is $13.8 billion dollars which makes him one of the richest people in Brazil. Born in Beirut, Lebanon, Joseph Safra's family has long been made up of bankers. The family amassed its first wealth by establishing lucrative trade routes between Alexandria, Constantinople, and Aleppo during the early part of the Ottoman Empire. In the early 1950s, the family relocated to Sao Paulo, Brazil. In the mid-50s, Joseph Safra's father and brother began financing work in Brazil, while Joseph moved to the United States and launched his own bank, Republic National Bank of New York. Back in Brazil, he launched Banco Safra, which has grown to become the 9th largest private bank in Brazil. He is also the CEO of the Safra Group, which controls banking interests in multiple countries around the world. The Group is currently trying to buy Bank Sarasin, a Swiss bank. Additionally, he co-owns Aracruz Cellulose, a major paper manufacturer, with his brother.
Joseph Safra currently runs the Brazilian banking and investment empire, Safra Group. As the chairman of all Safra companies, among them Safra National Bank of New York and the large Banco Safra headquartered in Sao Paulo, Brazil, he is ranked at 68 with a net wealth of 13.8$ billion on Forbes list of billionaires.
Joseph was born in Beirut into a wealthy Jewish banking family. The family's history in banking originated with caravan trade between Aleppo, Alexandria and Constantinople during the Ottoman Empire. The Safras decided to move 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 Sao Paulo. But soon, Edmond Safra separated from his brothers Joseph and Moises and headed to New York where he founded the Republic National Bank of New York (which he later sold to HSBC in 1999 and donated most of his money to the Edmond Safra Foundation). Joseph Safra founded Banco Safra in the 60's, and today it is 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 recently acquired the remaining shares of Safra Group companies from his brother Moises Safra. The two brothers still maintain a joint ownership of Aracruz Cellulose.

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Joseph Safra Latest News

Joseph Safra

Joseph Safra, dubbed ‘the world’s richest banker’ saw his fortune rise in 2016, with his estimated net worth increasing to $18.4bn from the $14.5bn seen on our last list, according to Forbes.
Posted: March 7, 2017, 1:58 pm

Weird Things Top Billionaires Have in Common

The prominent billionaires who amassed their wealth in this industry include Warren Buffett, who is one of the most successful investors of all time; Joseph Safra, whose family made its wealth through ...
Posted: May 13, 2020, 5:00 pm

Another major corruption scandal hits Brazil, this time fraud at the tax office

They also raided the headquarters of Banco Safra SA, Brazil's eighth largest bank, owned by Lebanese-Brazilian billionaire Joseph Safra and his family. So far, investigators have detected suspect ...
Posted: May 20, 2020, 5:00 pm
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