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What is Joseph Safra’s net worth? 

Table of Contents

Introduction 

Joseph Safra was a Brazilian of Lebanese origin billionaire banker.

Safra ran the Brazilian banking and investment empire, Safra Group.

Safra was the chairman of all Safra companies, Safra National Bank of New York and Banco Safra, headquartered in São Paulo, Brazil.

At his time of death, Joseph Safra’s net worth was roughly $25 Billion.

Early Life 

Joseph Safra was born on the 1st of January, 1938, in Aleppo, Syria.

Safra is a Jewish Lebanese family with banking connections dating back to Ottoman times and grew up in Beirut, Lebanon. 

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.

Career 

Brazilian-born financier, banker, and entrepreneur, Joseph Safra holds the title of being the richest banker in the world when he died in 2020.

The banking family has ties to the Ottoman Empire and has been in the money business for centuries, financing kings and queens over the centuries.

After moving to Brazil, Safra founded Banco Safra in 1955, which grew to be the sixth-largest bank in the country.

While it isn’t one of the biggest banks in the world, the Safra brothers created massive wealth through acquisitions and commercial real estate.

The bank was part of the Safra group which has interests globally, primarily in Europe, North America, and throughout South America.

Joseph Safra faced increasing discrimination after the Arab-Israeli in 1948 and was sent to school in England by his parents.

There he made excellent connections and the family later decided that it was best to emigrate to South America for their safety.

Moving To Brazil

Based in São Paulo, Joseph’s father set up businesses and assisted the many Jews who were fleeing the Middle East for the more accommodating Brazil.

Joseph went to the Bank of America to obtain experience in modern banking practices and returned to his family after his father died in 1963.

Little did he know that in the future he would become one of the richest people in the world, living up to his family’s expectations and history.

Joseph and his two brothers, Edmond and Moise, continued their father’s business of financing wealthy Jews, but Joseph had other plans.

He wished to become a notable banker rather than just a financier and put in motion some plans to bring about his dream.

Joseph wanted to turn the family business into a fully functioning bank, but he and his brothers disagreed on the direction they should take.

Unfortunately, there was a major disagreement between him and his brothers which eventually caused Edmond to leave Brazil.

He went to New York and set up his own business called the Republic National Bank of New York with no ties to Joesph and his younger brother.

Creating A Global Banking Empire

Joseph and his brother Moise had full control of the family business and created Banco Safra in 1966, with each owning a 50% share.

In the same way that Warren Buffet and Charlie Munger formed a symbiotic investment duo, Joesph and his brother Moise were perfectly suited to their roles.

They identified the corporate market as the one that offered the most profitable options and attracted wealthy entrepreneurs to use their financial services.

With the growth of the business banking side of the business, they expanded into personal banking as well as asset management and commercial insurance.

To grow the business, Joseph Safra needed a way to find new clients faster than they were able to attract them in traditional ways.

He hit on a plan to acquire as many smaller banks as he could, building his client portfolio through acquisition – a much faster process.

It wasn’t long before Safra’s bank branches dotted the Brazilian landscape, making access to their services quick and easy for average Brazilians.

Expanding His Banking Reach

But Joesph’s sights were set far higher than just Brazil and rather than preside over the bank as its CEO, he chose to be its chairman instead.

This freed him from the day-to-day running of the banking business and allowed him to concentrate on expanding his empire globally.

The bank’s international expansion was facilitated through the creation of international branches as well as the acquisition of foreign subsidiaries.

It wasn’t long before the Safra brothers had added a Swiss bank to their group, as well as banks in the Cayman Islands and New York City.

They consolidated the businesses under the umbrella of the Safra Group but still maintained full control by personally owning the shares in each bank.

Not content to just enjoy his success, the next phase of Joseph’s plan was to diversify their risk by moving into the real estate market.

Moving Into Commercial Real Estate

The first step was to buy as much commercial real estate as possible in major Brazilian cities like Rio de Janeiro and Sao Paulo.

He became one of the largest holders of commercial real estate in Brazil and set his sights on the rich picking available internationally.

Much in the same way that Grant Cardone established his real estate fortune many years later, Joseph identified under-valued assets to add to his portfolio.

Joseph had his eye on the historic London financial district and purchased One Plantation Place for an astronomical, £500 million.

Later, he bought the £700 million skyscraper known as the Gherkin, located at 30 St. Mary Axe in the heart of the London financial district.

He continued to make acquisitions in other major cities around the world, including Geneva in Switzerland and New York City.

Joseph Safra Net Worth

At his time of death, Joseph Safra’s net worth was estimated to be roughly $25 Billion.

How Did Joseph Sarfa Spend His Money? 

Joseph Sarfa spent his money on his real estate in Brazil. 

Joseph Safra’s Home 

Sarfa owned a home in São Paulo, Brazil. 

Highlights 

Here are some of the best highlights of Joseph Safra’s career: 

• Safra is the chairman of all Safra companies
•  He paid more than £700 million to buy The Gherkin (2014)

Favorite Quotes From Joseph Safra 

“As in political so in literary action, a man wins friends for himself mostly by the passion of his prejudices and the consistent narrowness of his outlook.” – Joseph Safra 

“Truth of a modest sort I can promise you, and also sincerity. That complete, praiseworthy sincerity which, while it delivers one into the hands of one’s enemies, is as likely as not to embroil one with one’s friends.” – Joseph Safra 

“This magnificent butterfly finds a little heap of dirt and sits still on it, but man will never on his heap of mud keep still.” – Joseph Safra 

3 Success Lessons From Joseph Safra 

Now that you know all about Joseph Safra’s net worth and how he achieved success; let’s take a look at some of the lessons we can learn from him:

1. We Are Teachers 

But as we learn, we teach others. We are all teachers in the school of life.

2. Seeds Of Success

The greatest lessons can be learned through failure. Why is this? It is because failure shows you what went wrong and what went right. Within each failure are the seeds of success.

3. The Hard Way 

Appreciate your mistakes for what they are: precious life lessons that can only be learned the hard way.

Summary 

Joseph Safra was a Brazilian businessman who was one of the richest people in Brazil.

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. 

At his time of death, Joseph Safra’s net worth was estimated to be $25 Billion. 

What do you think about Joseph Safra’s net worth? Leave a comment below. 

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