The heirs of one in all the world’s richest bankers, Joseph Safra, have reached an agreement that ends a years-long international dispute over his estate.
In a press release on Friday, the family announced the “comprehensive, amicable resolution of all disputes with Alberto Joseph Safra,” one in all Joseph Safra’s sons.
Alberto Safra claims his father, who suffered from Parkinson’s disease, lacked the mental capability to execute the three recent wills that disinherited him; Alberto sued his mother and two brothers who claimed to have been victims of manipulation to get well his alleged stake in New York’s Safra National Bank.
Joseph Safra died in 2020 on the age of 82. Born in Lebanon but a Brazilian citizen, he built a strong corporation that made him the richest banker on this planet on the time of his death. What must have been an orderly, well-choreographed succession ended up in a New York court, exposing divisions throughout the family.
“I am happy to put this matter behind us. After clarification, I understood that there were no irregularities and that Mr. Joseph Safra’s assets were distributed properly and in accordance with his wishes,” Alberto Safra said within the statement.
Under the terms of the agreement, Alberto Safra will relinquish his shares in J. Safra Group and pursue his business interests through his own company, ASA Investments. Financial details and other terms of the agreement weren’t disclosed. Bloomberg News reported in 2022 that Alberto Safra desires to sell his stake to his siblings, a deal that would eventually usher in as much as $5 billion.
