Early Life

Joseph was born into a wealthy Jewish banking family in Beirut, Lebanon. The families history in banking originated with caravan trade between Aleppo, Alexandria and Constantinople during the Ottoman Empire. Facing anti-Jewish riots in Beirut after the creation of the state of Israel in 1948, the Safras decided to move to Brazil in 1952. In 1955, the Joeseph's 23-year-old brother, Edmond, and his father, Jacob, founded the predecessor to Banco Safra, S.A.

Recent Activities

Joseph and his brother Moise Safra have made substantial investments in Israel over the years, chiefly their controlling stake in the First International Bank and a 34.75 percent stake in the country's No. 2 cellular phone operator, Cellcom.[2] Joseph recently purchased the remaining shares of Banco Safra, Brazil's ninth largest bank with $20 billion in assets, from his brother, Moise. The split is reportedly the result of Joseph launching Banco Jacob Safra, run by one of his three sons, as a competitor to Banco Safra. Moise has also put up for sale his stakes in Safra National Bank of New York and Banque Safra-Luxembourg S.A. Deceased brother Edmond J. Safra (1932 - 1999) had a separate multibillion-dollar banking fortune, part of which he left to his wife.