Business

Joseph Safra, the last of Brazil’s “big bankers,” dies at 82

Regarded as one of the "greatest bankers in Brazil's history," Joseph Safra dies at 82 and leaves a legacy of charity and wealth

safra bank brazil
Photo: Leonidas Santana/Shutterstock

Brazilian financial markets mourn the passing of Joseph Safra, Brazil’s richest man, who died this morning at the age of 82. With an estimated net worth of USD 23.2 billion, Mr. Safra had struggled with health issues for several years. His press office announced he died of “natural causes.” Admired by Brazil’s finance community, his legacy lives on through his philanthropic work and Banco Safra, the bank his family built.

Born in the Lebanese capital of Beirut, Mr. Safra arrived in Brazil at the age of 24, after completing his studies in England and working for the Bank of...

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