Alberto J. Safra

Alberto J. Safra (born 1979/1980) is a Brazilian-born businessman who founded ASA Investments and is a member of the Safra family.

Alberto J. Safra
Born1979 or 1980 (age 42–43)
CitizenshipBrazil
EducationB.A. Wharton School of Business
OccupationBusinessman
SpouseMaggy Candi
Children4
Parent(s)Vicky Safra
Joseph Safra

Biography

Safra was born to a Jewish family, the son of Vicky (née Sarfaty) and Joseph Safra (1938–2020)[1][2][3] He has three siblings: Jacob J. Safra, Esther Safra Dayan (married to Carlos Dayan, son of Sasson Dayan), and David J. Safra.[4] He graduated from the Wharton School of Business.[5] and then went to work for his father where he shared responsibility for Banco Safra in Brazil with his younger brother David (Alberto was responsible for corporate banking while David was responsible for investment banking).[4][6] His brother Jacob managed the Safra group's international operations (Safra National Bank of New York and J. Safra Sarasin of Switzerland).[4][6] In 2012, his father acquired 100% of Banco Safra.[7]

In 2019, Alberto stepped down from the bank’s administration[8] and from his position on the Board to dedicate himself to personal projects.[9][10] It was reported that he left after a dispute with his brother David over Banco Safra's expansion into retail banking.[10] He then founded ASA Investments, a Sao Paulo-based asset-management firm with offices in Rio de Janeiro and New York.[11] In 2022, ASA acquired CORE, a real estate fund.[12]

The hedge fund ASA Hedge, Alberto Safra's main fund, showed the best profitability in 2022 out of 188 funds monitored by Bloomberg,[13] and was ranked among the best in the market, reaching first place in September in the ranking published by UOL,[14] with its profitability emphasized by G1[15] among hedge funds with the highest return in 2022: 318% of CDI. ASA Hedge defied a trend of record redemptions for the Brazilian fund industry in 2022, recording around R$1.7 billion in net raising for the year, compared to R$84 billion in net redemptions in hedge funds. In March 2023, ASA Hedge was recognized as Brazil's best Macro Hedge Fund according to Exame's "Melhores do Mercado".[16]

In October 2020, his father died leaving his fortune to his wife and four children.[17] In 2021, he challenged three new wills his father executed in November and December 2019, arguing that his father lacked the mental capacity due to his suffering from advanced Parkinson's disease.[11]

In January 2023, Bloomberg reported that Alberto Safra is close to reaching an agreement to sell his stake in Grupo J.Safra to his siblings.[18]

Net worth

According to the Forbes list of The World's Billionaires, as of April 2023, his mother and family are worth $16.7 billion.[19]

Personal life

In November 2006, he married Maggy Candi;[20] they have 4 children: Vicky, Joseph Alberto, Freddy Alberto, and Lina.[21]

References
  1. "World's richest banker whose ancestors financed camel caravans". The Sydney Morning Herald. 15 December 2020. He is survived by his wife Vicky Sarfati and their three sons (who now run the family businesses) and a daughter.
  2. Farhi, Alain. "Joseph Safra / Vicky Sarfaty". farhi.org - Les Fleurs de l'Orient. Retrieved 16 October 2021.
  3. "Morre aos 82 anos banqueiro Joseph Safra". Istoe (in Portuguese). 12 October 2020. Em 1969, casou-se com Vicky Sarfaty, com quem teve 4 filhos e 14 netos
  4. "Court Accepts Charges Against Brazil Banker Joseph Safra". Jewish Voice. 27 April 2016.
  5. Oscar, Naiana (24 November 2019). "Joseph Safra ou 'Zé', para os íntimos: o banqueiro mais rico do mundo é brasileiro". Seu Dinheiro (in Brazilian Portuguese). Retrieved 6 January 2023.
  6. Dwyer, Rob (11 December 2020). "Brazil banking: Safra succession could herald battle for control". Euromoney.
  7. "Filhos de Joseph Safra assumem comando do banco no Brasil". Valor Econômico (in Brazilian Portuguese). 7 December 2012. Retrieved 6 January 2023.
  8. "Alberto Safra deixa banco após racha bilionário na família". Exame (in Brazilian Portuguese). 28 October 2019. Retrieved 6 January 2023.
  9. Poder360 (28 October 2019). "Alberto Safra deixa gestão do banco para se dedicar a outro negócio". Poder360 (in Brazilian Portuguese). Retrieved 6 January 2023.
  10. "Son of billionaire Joseph Safra leaves Banco Safra board". Reuters. 28 October 2019.
  11. Van Voris, Bob; Marques, Felipe (5 August 2021). "A Billionaire Banking Dynasty Is Fighting Over the Patriarch's Will". Bloomberg.com.
  12. "ASA, de Alberto Safra, compra gestora de fundos imobiliários". Valor Econômico (in Brazilian Portuguese). Retrieved 6 January 2023.
  13. "Brazil Hedge Funds Score Best Year Since 2016 on US Bond Rout". Bloomberg.com. 4 January 2023. Retrieved 6 January 2023.
  14. "Veja quais foram os fundos que mais renderam em 2022". economia.uol.com.br (in Brazilian Portuguese). Retrieved 6 January 2023.
  15. "Educação Financeira #224: os melhores investimentos de 2022". G1 (in Brazilian Portuguese). Retrieved 6 January 2023.
  16. exame.com https://exame.com/revista-exame/a-leitura-do-cenario-e-o-diferencial/. Retrieved 10 April 2023. {{cite web}}: Missing or empty |title= (help)
  17. "- #339 Vicky Safra". The World's Billionaires - The World's Billionaires - Forbes. Retrieved 16 October 2021.
  18. "Safra Scion Looks to Walk Away From Family Banking Empire With $5 Billion". Bloomberg.com. 1 July 2022. Retrieved 6 January 2023.
  19. "Vicky Safra & family". Forbes. Retrieved 10 April 2023.
  20. Bergamo, Monica (16 November 2006). "Casamento tropical Os casamentos da família Safra seguem fazendo história em SP -pela sofisticação, pela grandiosidade e pela platéia seleta de convidados que conseguem reunir". Folha de Sao Paulo.
  21. Farhi, Alain. "Alberto Safra / Maggy Candi". farhi.org - Les Fleurs de l'Orient. Retrieved 16 October 2021.
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