World’s Richest Banker
Edmond, Joseph, and Moise Safra
Jacob Safra (1891-1963) was born to a religious Sephardic family in the Jewish community of Aleppo, Syria. He was from a long line of Ottoman merchants and bankers. When the Ottoman Empire collapsed, Safra opened a new banking business in Beirut. His bank soon became the most trusted financial institution for the region’s many Jews. When things became difficult in Arab countries following the establishment of the State of Israel, Safra moved his family (with four sons and four daughters) to Italy, and then to Brazil. There, Safra and his sons founded a new bank in São Paulo in 1955. While eldest son Elie Safra (1922-1993), and third son Moise Safra (1934-2014) played smaller roles in the family business, the most prominent of the brothers was undoubtedly Edmond Safra (1932-1999). He opened a branch in Geneva, and transformed an initial $1 million into $5 billion in less than three decades. He also founded the Republic National Bank of New York, which grew to 80 locations, making it the third largest bank network in the city (after Chase and Citigroup). Edmond later opened financial institutions in Luxembourg and Russia. The latter would prove unfortunate, as many believe his “accidental” death in a house fire may have been an assassination by Russian mobsters. Today, Banco Safra is run by youngest son Joseph Safra (b. 1939). His net worth is estimated around $25 billion, making him the richest banker in the world. The Safras have always been famous for their incredible generosity. They have funded countless schools, hospitals, universities, and charities. Edmond Safra was particularly interested in building and restoring Jewish sites, and paid for synagogues all over the world, including in Manila, Istanbul, and Kinshasa. He financed the first new synagogue in Madrid in 500 years, and saved an ancient synagogue in France from demolition. He also refurbished and funded the tombs of Rabbi Meir and Rabbi Shimon bar Yochaiin Israel, and prayed at the tomb of the former each year before the holiday of Shavuot. Several medical centres and university faculties around the world bear his name, and the Safra family was one of the founders of São Paulo’s most renowned hospital. He established the International Sephardic Education Foundation to provide scholarships for those in need, and the Edmond J. Safra Philanthropic Foundation continues to give millions to charity each year. The Safras stay out of the public eye, and hold on to their faith – as well as a strictly kosher diet. Most recently, they paid for the beautiful new Moise Safra Centre in Manhattan.
15 Life Lessons from King David
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If you believe breaking is possible, believe fixing is possible.
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In 2014, Joseph Safra purchased one of London’s most iconic buildings, the Gherkin (left), for a whopping £700 million. The Safras also own the General Motors Building in Manhattan (bottom centre), and fund (clockwise from top) the American University of Beirut, the Edmond and Lily Safra Children’s Hospital in Israel, the Edmond J. Safra Synagogue of New York, and the tomb of Rabbi Meir – a popular pilgrimage site.
Philippe Kahn (b. 1952) was born in Paris, France to Jewish immigrants from Eastern Europe. His mother fought alongside the French in World War II (with the rank of lieutenant), and went on to survive Auschwitz. Kahn studied in Zurich and Nice, attaining master’s degrees in both mathematics and music. During his studies, he wrote software for the world’s first modern personal computer, the French-made MICRAL of 1973. In 1982, he started his own company in California called Borland. It was one of the first start-ups to create software development tools, and stood out from other companies as it offered incredibly cheap products. (Its Turbo Pascal, for example, cost only $50 compared to the thousands of dollars that similar tools cost.) Over the next ten years, Kahn transformed Borland into a computer powerhouse with $500 million in revenue. However, a number of disagreements led to the board squeezing him out of his own company. Kahn took his severance pay and started a new company, Starfish. Just a few years later, he sold it to Motorola for a whopping $325 million. Around this time, Kahn’s daughter was born, and he got frustrated at his inability to quickly send baby photos to friends and family. He fiddled with his camera and his phone until he managed to link the two. He then sent history’s first photograph through a cellphone. This inspired him to develop the camera-phone, making it the focus of his new startup, LightSurf Technologies. This company, too, was bought out for $300 million. Since then, Kahn has started yet another company that designs and develops wearable technology. He is also an avid sailor, holding the world record for fastest San Francisco to Hawaii trip, and recently winning the Transpacific Yacht Race from LA to Hawaii. Kahn is credited with inventing the now-ubiquitous camera phone, and TIME Magazine included his first phone photograph in its 2016 list of the 100 Most Influential Photos of All Time.