Joseph Safra Net Worth

Joseph Safra Net Worth

Joseph Safra net worth – What was the net worth of Joseph Safra? Joseph Safra was a Lebanese-Brazilian billionaire banker and the founder of Safra Group, a global banking empire. At the time of his death in December 2020, he was the richest banker in the world and the wealthiest person in Brazil, with a net worth of approximately $23.2 billion. His fortune, built on a banking lineage dating back to the Ottoman Empire, has since passed to his wife, Vicky Safra, and their four children, who collectively manage a wealth estimated at $24.1 billion in 2026. Known for his extreme privacy and conservative investment strategy, Safra built a financial fortress that survived crises where others failed.

What was Joseph Safra’s Net Worth?

At the time of his passing in late 2020, Joseph Safra had an estimated net worth of US $23.2 billion. His wealth was derived from the Safra Group, a conglomerate of banks and investment holdings including Banco Safra in Brazil, J. Safra Sarasin in Switzerland, and Safra National Bank of New York. Beyond banking, he owned a massive real estate portfolio, including the iconic “Gherkin” building (30 St Mary Axe) in London and the Chiquita banana company (co-owned with the Cutrale family).

Since his death, his fortune has been transferred to his heirs. As of 2026, the Vicky Safra & Family fortune is valued at approximately $24.1 billion, keeping the Safra name among the top tiers of the global rich list.

Net Worth Comparison with Other Global Bankers & Billionaires

Billionaire Estimated Net Worth
Joseph Safra (Estate/Family) $24.1 Billion
Jorge Paulo Lemann $15.8 Billion
Stephen Schwarzman $46 Billion
Uday Kotak $13.5 Billion
David Tepper $20.6 Billion
Prince Alwaleed Bin Talal $18.7 Billion

Joseph Safra (and Family) Net Worth Growth Timeline

Year Net Worth
2018 $23.5 Billion
2020 (Death) $23.2 Billion
2022 (Family) $16.7 Billion
2024 (Family) $20.6 Billion
2026 (Family) **$24.1 Billion**

Who was Joseph Safra?

Joseph Yacoub Safra was born on September 1, 1938, in Beirut, Lebanon, into a Sephardic Jewish family with a banking history dating back to the camel caravans of the Ottoman Empire. He moved to Brazil in the 1950s, where he and his father laid the foundations for what would become one of the largest financial institutions in Latin America. Safra was the epitome of “old money” discretion; he famously avoided the press, traveled with heavy security, and built a reputation for immense stability—often saying, “If you choose to sail upon the seas of banking, build your bank as you would your boat, with the strength to sail safely through any storm.”

Joseph Safra Biography

Field Details
Full Name Joseph Yacoub Safra
Nickname The World’s Richest Banker
Date of Birth September 1, 1938
Date of Death December 10, 2020 (Aged 82)
Birthplace Beirut, Lebanon
Nationality Lebanese, Brazilian
Profession Banker, Investor
Years Active 1955–2020
Net Worth (Death) $23.2 billion
Source of Wealth Banking (Banco Safra), Real Estate
Spouse Vicky Sarfati (m. 1969)
Children Jacob, Esther, Alberto, David
Parents Jacob Safra, Esther Teira

Early Life and Education

Joseph Safra was born in Beirut, Lebanon, the son of Jacob Safra. His family originally hailed from Aleppo, Syria, where they financed trade caravans connecting Europe, Africa, and Asia. In 1952, sensing the changing geopolitical climate in the Middle East, the family moved to São Paulo, Brazil.

Joseph completed his education in England and the United States, but his real training came from his father. He learned the family’s conservative principles of banking: prioritize the safety of capital over risky returns. This philosophy became the bedrock of his career.

Career

In 1955, at age 17, Joseph helped his father establish Banco Safra in Brazil. While his older brother Edmond left to establish a banking empire in Geneva and New York (Republic National Bank), Joseph stayed in Brazil to build the domestic business. He eventually bought out his brother Moise in 2006 to become the sole owner of the Safra Group.

Under Joseph’s leadership, Banco Safra grew into the sixth-largest private bank in Brazil. He expanded globally, acquiring Bank Sarasin in Switzerland in 2011 to form J. Safra Sarasin, a powerhouse in private banking. He also diversified into real estate, buying trophy assets like 660 Madison Avenue in New York and The Gherkin in London for £726 million in 2014. In a surprising pivot to agriculture, he partnered with the Cutrale family to buy Chiquita Brands International (the banana giant) for $1.3 billion in 2014.

Personal Life

Joseph Safra was married to Vicky Sarfati, a Greek-born heiress, in 1969. They remained married until his death and had four children: Jacob, Esther, Alberto, and David.

Safra was deeply private and security-conscious, a trait intensified after his brother Edmond died in a suspicious fire in Monaco in 1999. Joseph commuted to his office by helicopter from his fortress-like mansion in the Morumbi neighborhood of São Paulo. He was a devout Jew and a major philanthropist, funding the construction of synagogues, community centers, and the Albert Einstein Hospital in São Paulo.

He passed away in 2020 from natural causes related to Parkinson’s disease.

Favorite Things

Category Favorite
Asset Class Real Estate, Gold
Building The Gherkin (London)
Hobby Philanthropy, Art Collecting
Language Arabic, English, Portuguese, French, Spanish, Hebrew
Residence São Paulo (Morumbi), Geneva
Philosophy “Build your bank like a boat.”

50 Unknown Facts about Joseph Safra

  1. He was the richest banker in the world at the time of his death.

  2. His family financed camel caravans in the Ottoman Empire.

  3. He was born in Beirut but made his fortune in Brazil.

  4. He spoke six languages fluently.

  5. He bought the famous “Gherkin” skyscraper in London for over £700 million.

  6. He co-owned Chiquita, the banana company.

  7. He paid cash for many of his massive real estate acquisitions.

  8. He famously avoided the media and almost never gave interviews.

  9. He traveled with a team of bodyguards trained by Israeli security services.

  10. His brother Edmond was killed in a fire in Monaco in 1999.

  11. He bought out his brother Moise’s share of the bank in 2006.

  12. He donated the original manuscript of Beethoven’s Ninth Symphony to the Juilliard School (via his foundation).

  13. He funded the construction of the Beit Yaacov synagogue in São Paulo.

  14. He had a net worth larger than the GDP of Iceland.

  15. He is buried in the Butantã Jewish cemetery in São Paulo.

  16. His wife Vicky is now one of the wealthiest women in the world.

  17. His son David manages the Brazilian banking operations.

  18. His son Jacob manages the Swiss and international operations.

  19. There was a brief legal dispute with his son Alberto regarding his inheritance.

  20. He owned a luxury apartment at 660 Madison Avenue in New York.

  21. He was known to pay his children’s allowances in gold coins to teach them value (a family legend).

  22. He donated heavily to the restoration of Notre Dame Cathedral in Paris.

  23. He owned a copy of the first printed Hebrew Bible.

  24. He was a Knight Commander of the Order of the British Empire (Honorary).

  25. He rarely attended socialite parties, preferring family dinners.

  26. He owned a superyacht but rarely used it for flashy events.

  27. He was the richest person in Brazil for many years, trading places with Jorge Paulo Lemann.

  28. His bank, Banco Safra, catered almost exclusively to high-net-worth individuals initially.

  29. He was known for having a “fortress balance sheet” with high liquidity.

  30. He suffered from Parkinson’s disease in his later years.

  31. He supported the Einstein Hospital, one of the best in Latin America.

  32. He once reportedly had his bank’s windows made of bulletproof glass.

  33. He owned commercial real estate in Geneva, New York, and London.

  34. He was a major donor to the Israel Museum in Jerusalem.

  35. He ensured his banks had no exposure to the subprime mortgage crisis of 2008.

  36. He loved traditional Lebanese food.

  37. He was a conservative lender, rarely taking risks on unproven ventures.

  38. He gifted a Torah scroll to every synagogue he visited.

  39. His family name “Safra” means “yellow” or “gold” in Arabic.

  40. He employed over 30,000 people globally.

  41. He was the 52nd richest person in the world in 2020.

  42. He helped finance the construction of the Edmond J. Safra Synagogue in NYC.

  43. He was a champion of the Sephardic Jewish community worldwide.

  44. He personally approved every major loan his bank made for decades.

  45. He was known to work long hours, even into his 80s.

  46. He lived in Switzerland for part of the year.

  47. He owned a stake in Aracruz Celulose (pulp and paper).

  48. His wedding to Vicky was a massive event in the Jewish community in 1969.

  49. He established the Joseph Safra Philanthropic Foundation.

  50. He left a legacy of stability, famously saying, “There is no such thing as a courageous banker.”

Frequently Asked Questions

When did Joseph Safra die?

Joseph Safra passed away on December 10, 2020, at the age of 82.

Who inherited Joseph Safra’s money?

His fortune was bequeathed to his wife, Vicky Safra, and their four children: Jacob, Esther, Alberto, and David.

What was the cause of Joseph Safra’s death?

He died of natural causes related to complications from Parkinson’s disease.

Is Banco Safra the largest bank in Brazil?

No, it is currently the sixth-largest private bank in Brazil, but it is one of the most profitable and stable.

Does the Safra family own Chiquita?

Yes, the Safra Group, in partnership with the Cutrale family, acquired Chiquita Brands International in 2014.

Who is the richest Safra now?

Vicky Safra serves as the guardian of the family fortune, and Forbes lists the family wealth under “Vicky Safra & Family,” making her the wealthiest Greek/Brazilian woman.

Did Joseph Safra own the Gherkin?

Yes, he purchased the famous London skyscraper, 30 St Mary Axe (The Gherkin), in 2014 for over £700 million.

Was Joseph Safra Brazilian?

He was a naturalized Brazilian citizen, though he was born in Lebanon and maintained deep ties to the global Jewish community.

Are the Safra brothers still alive?

Joseph was the last surviving brother of the original banking trio. His brothers Edmond died in 1999 and Moise died in 2014.

What is the “Safra Code”?

It refers to the family’s banking philosophy: absolute discretion, conservative risk management, and the protection of client capital above all else.