Early Life
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 São Paulo. But soon, Edmond Safra separated from his brothers Joseph and Moise 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 Moise Safra. The two brothers still maintain a shareholding in Fibria Cellulose.
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Famous quotes related to early life:
“... goodness is of a modest nature, easily discouraged, and when much elbowed in early life by unabashed vices, is apt to retire into extreme privacy, so that it is more easily believed in by those who construct a selfish old gentleman theoretically, than by those who form the narrower judgments based on his personal acquaintance.”
—George Eliot [Mary Ann (or Marian)