According to “Forbes” magazine, the estimated fortune of the family empire is R$107 billion; financial terms were not disclosed.
The Safra family, heirs of banker Joseph Safra, announced this Friday (19.Jul.2024) that they have reached an agreement on the legal dispute over the billion-dollar inheritance. The father and founder of the banking empire died in 2020 of natural causes.
According to the note sent to the market, the parties agreed to “close all pending judicial and arbitration proceedings in all jurisdictions.” Financial terms were not disclosed. According to the magazine Forbesthe fortune of the Safra empire is valued at US$ 19.1 billion (R$ 107 billion).
In 2023, Alberto Safra, one of Joseph’s sons, filed a lawsuit against his family, claiming that they purposefully reduced his stake in the holding company.
Joseph disinherited Albert 1 year before his death, for having withdrawn from the council of Safra Bank to open the ASA Investments.
“Under the terms of the agreement, Alberto will divest his interests in the J. Safra Group and pursue his business interests through ASA”says the family.
Widow Vicky and her sons David and Jacob say they are “pleased to put this matter behind us and reaffirm family ties.”
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