Joseph Safra
Encyclopedia
Joseph Safra currently runs the Brazil
ian 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 São Paulo
, Brazil
, he is ranked at 68 with a net wealth of 11.4$ billion on Forbes list of billionaires.
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 São 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 1997 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
.
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
ian banking and investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
empire, Safra Group
Safra Group
The Safra Group is an international network of privately held companies controlled by the Safra family, comprising a banking and financial institutions conglomerate, industrial operations and telecommunications. It is present in the US, Europe, the Middle East, Latin America and the Caribbean.The...
. As the chairman of all Safra companies, among them Safra National Bank of New York
Safra National Bank of New York
Safra National Bank of New York is a full-service commercial banking institution engaged in international banking operations, as well as domestic business activities emphasizing short and intermediate term financing for business ventures in industry and trade...
and the large Banco Safra
Banco Safra
Banco Safra is a Brazilian and international bank, ranking tenth among the country’s largest sector financial institutions in terms of total assets. The Bank is part of the larger Safra Group of banks and financial institutions.-Operations:...
headquartered in São Paulo
São Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, he is ranked at 68 with a net wealth of 11.4$ billion on Forbes list of billionaires.
Early life
Joseph was born in BeirutBeirut
Beirut is the capital and largest city of Lebanon, with a population ranging from 1 million to more than 2 million . Located on a peninsula at the midpoint of Lebanon's Mediterranean coastline, it serves as the country's largest and main seaport, and also forms the Beirut Metropolitan...
into a wealthy Jewish banking family. The family's history in banking originated with caravan trade between Aleppo
Aleppo
Aleppo is the largest city in Syria and the capital of Aleppo Governorate, the most populous Syrian governorate. With an official population of 2,301,570 , expanding to over 2.5 million in the metropolitan area, it is also one of the largest cities in the Levant...
, Alexandria
Alexandria
Alexandria is the second-largest city of Egypt, with a population of 4.1 million, extending about along the coast of the Mediterranean Sea in the north central part of the country; it is also the largest city lying directly on the Mediterranean coast. It is Egypt's largest seaport, serving...
and Constantinople
Constantinople
Constantinople was the capital of the Roman, Eastern Roman, Byzantine, Latin, and Ottoman Empires. Throughout most of the Middle Ages, Constantinople was Europe's largest and wealthiest city.-Names:...
during the Ottoman Empire
Ottoman Empire
The Ottoman EmpireIt was usually referred to as the "Ottoman Empire", the "Turkish Empire", the "Ottoman Caliphate" or more commonly "Turkey" by its contemporaries...
. The Safras decided to move to Brazil in 1952. In 1955, Joseph's 23-year-old brother, Edmond Safra
Edmond Safra
Edmond J. Safra was a Jewish Brazilian-naturalized, Lebanese banker who continued the family tradition of banking in Lebanon, Brazil and Switzerland. He married Lily Watkins. He died in a fire that attracted wide media interest and was judicially determined to be due to arson.-Life of Edmond...
, and his father, Jacob Safra
Jacob Safra
Jacqui Eli Safra is a Swiss investor, descendant of the Lebanon-Swiss Jewish Safra banking family. Some of his investments include Encyclopædia Britannica, Merriam-Webster, and Spring Mountain Vineyards, a large wine-growing estate located in Saint Helena, California. He is the nephew of Edmond...
, started working in Brazil by financing assets in São 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
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
in 1997 and donated most of his money to the Edmond Safra Foundation). Joseph Safra founded Banco Safra
Banco Safra
Banco Safra is a Brazilian and international bank, ranking tenth among the country’s largest sector financial institutions in terms of total assets. The Bank is part of the larger Safra Group of banks and financial institutions.-Operations:...
in the 60's, and today it is the 6th largest private bank in Brazil. He remains the chairman of the Safra Group
Safra Group
The Safra Group is an international network of privately held companies controlled by the Safra family, comprising a banking and financial institutions conglomerate, industrial operations and telecommunications. It is present in the US, Europe, the Middle East, Latin America and the Caribbean.The...
offering banking services throughout Europe, North and South America.
Joseph Safra recently acquired the remaining shares of Safra Group
Safra Group
The Safra Group is an international network of privately held companies controlled by the Safra family, comprising a banking and financial institutions conglomerate, industrial operations and telecommunications. It is present in the US, Europe, the Middle East, Latin America and the Caribbean.The...
companies from his brother Moises Safra
Moises Safra
Moises Safra is a Brazilian businessman, founder of Banco SafraMoises was born into a wealthy Jewish banking family in Aleppo, Syria. The family's history in banking originated with caravan trade between Aleppo, Alexandria and Constantinople during the Ottoman Empire...
. The two brothers still maintain a joint ownership of Aracruz Cellulose
Aracruz
Aracruz Celulose S.A. was the major Brazilian manufacturer of pulp and paper. In 2009 the company merged with VCP and renamed Fibria...
.
Business holdings
- Aracruz CelluloseAracruzAracruz Celulose S.A. was the major Brazilian manufacturer of pulp and paper. In 2009 the company merged with VCP and renamed Fibria...
- Banco SafraBanco SafraBanco Safra is a Brazilian and international bank, ranking tenth among the country’s largest sector financial institutions in terms of total assets. The Bank is part of the larger Safra Group of banks and financial institutions.-Operations:...
- Bank Jacob Safra SwitzerlandBank Jacob Safra SwitzerlandBank Jacob Safra AG is a full-service commercial banking institution headquartered in Geneva, Switzerland. It is also present in Zurich, Lugano, Gibraltar, and Monaco...
- Safra GroupSafra GroupThe Safra Group is an international network of privately held companies controlled by the Safra family, comprising a banking and financial institutions conglomerate, industrial operations and telecommunications. It is present in the US, Europe, the Middle East, Latin America and the Caribbean.The...
- Safra National Bank of New YorkSafra National Bank of New YorkSafra National Bank of New York is a full-service commercial banking institution engaged in international banking operations, as well as domestic business activities emphasizing short and intermediate term financing for business ventures in industry and trade...