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

Brazilian Billionaire Joseph Safra Named In Corruption Probe

Billionaire Joseph Safra, the world’s richest banker, is the latest billionaire to be named in Brazil’s far-reaching corruption probe. According to Brazil’s Federal Police, The Safra Group is accused of paying R$15.3 million (about $4 million in ...
Posted: March 31, 2016, 11:20 am

Brazilian Banker Joseph Safra Charged in Bribery Scheme

Brazilian prosecutors have charged the world’s richest banker, Joseph Safra, for allegedly agreeing to pay more than $4 million in bribes to tax auditors to reduce or annul fines on unpaid taxes. The Federal Prosecutor’s Office said in a statement ...
Posted: April 3, 2016, 7:37 am

Billionaire Banker Safra Said to Get Court Date in Graft Case

(Bloomberg) -- A court date has been set for billionaire banker Joseph Safra in a criminal case that’s part of a federal investigation into tax fraud in Brazil, said a person with direct knowledge of the matter. Defendants including Safra will be ...
Posted: October 13, 2016, 11:37 am
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