Business
The death of world’s richest banker thrusts heirs into spotlight – Sydney Morning Herald
Joseph Safra became the world’s richest banker by transforming a Brazilian lender into a global multibillion-dollar empire. Now, after his death at 82, it falls…
The succession comes as the global pandemic has roiled markets and accelerated shifts that are upending traditional businesses, such as banking and real estate. Brazil has been particularly hard hit, with the world’s second-highest number of COVID deaths. The Safras – famous for their cautious approach to business – also have to contend with competition from upstart firms and foreign banks over wealthy clients.
“Safra’s importance in the financial system is smaller today then it once was. Other…
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