Find out the source of Vicky Safra’s wealth, the richest woman in Brazil

Heiress of Joseph Safra, founder of Banco Safra, Vicky yellow72 years old, is considered the richest person in Brazil. According to Forbes magazine, her fortune is US$19 billion (BRL106 billion at current prices)The billionaire’s wealth is equivalent to the combined assets of the poorest half of the country’s population, according to data from the British anti-poverty organization Oxfam.

Although many may associate their fortune with the Brazilian bank, Vicky and her family’s fortune began in the mid-19th century in the Middle East. To be more specific, the Safra fortune traces its roots to Aleppo, Syria, where the family founded Safra Frères & Cie in 1800.

Safra Frères & Cie exchanged currencies from countries in Asia, Africa and Europe, as well as selling silver and gold. The banking house also financed camel caravans that traded throughout the vast lands of the former Ottoman Empire, which stretched from Africa and the Arabian Peninsula to the Balkans and Turkey.

The family business became successful over time and opened branches in Istanbul, Alexandria and Beirut. The Lebanese capital was later chosen as the headquarters of the Bank of Yaacoub Safra, named after the family patriarch who was born in 1891. In 1953, Yaacoub Safra moved with his family to Brazil where he founded an import and trade company and the Bank of Safra.

Vicky yellow

Vicky was born in Greece and moved with her family to Brazil, where she now leads the Vicky and Joseph Safra Foundation, a charitable entity working in the fields of health, education and the arts. Since March 2023, Forbes has been looking at the assets of Vicky and her children (Jacob, Esther, Alberto and David) as a whole.

The Safra family announced, on Friday, the 19th of this month, an amicable resolution to the legal dispute over the family inheritance. The lawsuit focused on the estate of Joseph Safra. At the head of the “fight” was Alberto (the dispossessed son) who was “fighting” against his mother Vicky, Joseph’s widow, and his two brothers, Jacob and David.

In a statement, the family said that “under the terms of the agreement, Alberto will renounce his interests in the J. Safra Group and will pursue his business interests through ASA.” The text also added that Youssef Safra was deemed “competent to dispose of his inheritance.”

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