Financier Joseph Safra, Brazil's richest man, dies at 82

Joseph Safra, in a file photo from 2002 Ap2002

Lebanese-Brazilian financier Joseph Safra, whose banking empire spanned from Brazil to Switzerland, has died at the age of 82, private bank J. Safra Sarasin has said. 

This content was published on December 11, 2020 - 09:29

Safra built up a fortune that made him the world's wealthiest banker. He was credited with making Banco Safra Brazil's eighth largest bank by assets. The Swiss private banking arm of his group acquired Switzerland's Bank Sarasin & Co in 2011, later rebaptized J. Safra Sarasin. 

His family was rated the third richest in Switzerland (CHF22 billion ($24 billion)), in the latest annual ranking by Bilan magazine. 

He died of natural causes, according to a statementExternal link issued by the bank on December 10 . 

Safra was described as a family man, who was also dedicated to friends, business and social causes and who has lived “an exemplary and reserved life, without ostentation and far from the public exposure”. 

“Mr Safra leaves a legacy to be followed by many generations. To family and friends, he leaves his teachings and will be deeply missed,” the statement concluded

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