Entrepreneurs
Joseph Safra Net Worth
What is Joseph Safra’s net worth?
Net Worth: | $25 Billion |
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Born: | January 1, 1938 |
Died: | December 10, 2020 |
Country of Origin: | Lebanon |
Source of Wealth: | Entrepreneur |
Last Updated: | Nov 4, 2024 |
Introduction
Joseph Safra was a Brazilian of Lebanese origin billionaire banker.
Safra ran the Brazilian banking and investment empire, Safra Group.
Safra was the chairman of all Safra companies, Safra National Bank of New York and Banco Safra, headquartered in São Paulo, Brazil.
At his time of death, Joseph Safra’s net worth was roughly $25 Billion.
Early Life
Joseph Safra was born on the 1st of January, 1938, in Aleppo, Syria.
Safra is a Jewish Lebanese family with banking connections dating back to Ottoman times and grew up in Beirut, Lebanon.
The Safra family moved to Brazil in 1952.
In 1955, Joseph’s 23-year-old brother, Edmond Safra, and his father, Jacob Safra, started working in Brazil by financing assets in São Paulo.
Career
Brazilian-born financier, banker, and entrepreneur, Joseph Safra holds the title of being the richest banker in the world when he died in 2020.
The banking family has ties to the Ottoman Empire and has been in the money business for centuries, financing kings and queens over the centuries.
After moving to Brazil, Safra founded Banco Safra in 1955, which grew to be the sixth-largest bank in the country.
While it isn’t one of the biggest banks in the world, the Safra brothers created massive wealth through acquisitions and commercial real estate.
The bank was part of the Safra group which has interests globally, primarily in Europe, North America, and throughout South America.
Joseph Safra faced increasing discrimination after the Arab-Israeli in 1948 and was sent to school in England by his parents.
There he made excellent connections and the family later decided that it was best to emigrate to South America for their safety.
Moving To Brazil
Based in São Paulo, Joseph’s father set up businesses and assisted the many Jews who were fleeing the Middle East for the more accommodating Brazil.
Joseph went to the Bank of America to obtain experience in modern banking practices and returned to his family after his father died in 1963.
Little did he know that in the future he would become one of the richest people in the world, living up to his family’s expectations and history.
Joseph and his two brothers, Edmond and Moise, continued their father’s business of financing wealthy Jews, but Joseph had other plans.
He wished to become a notable banker rather than just a financier and put in motion some plans to bring about his dream.
Joseph wanted to turn the family business into a fully functioning bank, but he and his brothers disagreed on the direction they should take.
Unfortunately, there was a major disagreement between him and his brothers which eventually caused Edmond to leave Brazil.
He went to New York and set up his own business called the Republic National Bank of New York with no ties to Joesph and his younger brother.
Creating A Global Banking Empire
Joseph and his brother Moise had full control of the family business and created Banco Safra in 1966, with each owning a 50% share.
In the same way that Warren Buffet and Charlie Munger formed a symbiotic investment duo, Joesph and his brother Moise were perfectly suited to their roles.
They identified the corporate market as the one that offered the most profitable options and attracted wealthy entrepreneurs to use their financial services.
With the growth of the business banking side of the business, they expanded into personal banking as well as asset management and commercial insurance.
To grow the business, Joseph Safra needed a way to find new clients faster than they were able to attract them in traditional ways.
He hit on a plan to acquire as many smaller banks as he could, building his client portfolio through acquisition – a much faster process.
It wasn’t long before Safra’s bank branches dotted the Brazilian landscape, making access to their services quick and easy for average Brazilians.
Expanding His Banking Reach
But Joesph’s sights were set far higher than just Brazil and rather than preside over the bank as its CEO, he chose to be its chairman instead.
This freed him from the day-to-day running of the banking business and allowed him to concentrate on expanding his empire globally.
The bank’s international expansion was facilitated through the creation of international branches as well as the acquisition of foreign subsidiaries.
It wasn’t long before the Safra brothers had added a Swiss bank to their group, as well as banks in the Cayman Islands and New York City.
They consolidated the businesses under the umbrella of the Safra Group but still maintained full control by personally owning the shares in each bank.
Not content to just enjoy his success, the next phase of Joseph’s plan was to diversify their risk by moving into the real estate market.
Moving Into Commercial Real Estate
The first step was to buy as much commercial real estate as possible in major Brazilian cities like Rio de Janeiro and Sao Paulo.
He became one of the largest holders of commercial real estate in Brazil and set his sights on the rich picking available internationally.
Much in the same way that Grant Cardone established his real estate fortune many years later, Joseph identified under-valued assets to add to his portfolio.
Joseph had his eye on the historic London financial district and purchased One Plantation Place for an astronomical, £500 million.
Later, he bought the £700 million skyscraper known as the Gherkin, located at 30 St. Mary Axe in the heart of the London financial district.
He continued to make acquisitions in other major cities around the world, including Geneva in Switzerland and New York City.
Joseph Safra Net Worth
At his time of death, Joseph Safra’s net worth was estimated to be roughly $25 Billion.
Highlights
Here are some of the best highlights of Joseph Safra’s career:
- Safra is the chairman of all Safra companies
- He paid more than £700 million to buy The Gherkin (2014)
Summary
Joseph Safra was a Brazilian businessman who was one of the richest people in Brazil.
Joseph Safra’s family has long been made up of bankers.
The family amassed its first wealth by establishing lucrative trade routes between Alexandria, Constantinople, and Aleppo during the early part of the Ottoman Empire.
At his time of death, Joseph Safra’s net worth was estimated to be $25 Billion.
What do you think about Joseph Safra’s net worth? Leave a comment below.
Entrepreneurs
Carlos Ghosn Net Worth
What is Carlos Ghosn’s net worth?
Net Worth: | $120 Million |
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Age: | 70 |
Born: | March 9, 1954 |
Gender: | Male |
Height: | 1.70 m (5 ft 7 in) |
Country of Origin: | Brazil |
Source of Wealth: | Entrepreneur |
Last Updated: | Nov 4, 2024 |
Introduction
Carlos Ghosn is a Brazilian-born French businessman with an estimated net worth of $120 Million.
Ghosn is best known for being the CEO of Michelin North America, Renault, AvtoVAZ, Nissan, and Mitsubishi Motors.
Career Overview
After graduating from the École des Mines de Paris in 1978, Carlos Ghosn worked for Michelin for 18 years. At first, he trained and worked at several plants throughout France and Germany before becoming a manager in Le Puy-en-Velay, France.
In 1984, Ghosn became the head of research and development and, a year later, was named the COO of the company’s operations in South America.
Ghosen moved to Rio de Janeiro, where the business had become unprofitable due to Brazil’s hyperinflation. Tasked with turning things around, Ghosen rose to the challenge with success and was named the president and COO of Michelin North America in 1989.
Rising Through The Ranks
In 1990, Carlos Ghosn became the CEO of Michelin North America and oversaw the company’s restructuring after purchasing Uniroyal Goodrich Tyre Company.
Six years later, Ghosn was elected Vice President of research, purchasing, development, and manufacturing at Renault, a French auto manufacturer. Under his guidance, Renault became exceptionally profitable, which led to Renault and Nissan forming the Renault-Nissan Alliance in 1999.
While maintaining his previous roles, Ghosn became Nissan’s COO and was named president in 2000 and CEO in 2001. Ghosn turned Nissan’s sinking profits around with his “Nissan Revival Plan,” which reduced the company’s debt by 50% by 2002. To do this, he cut 14% of jobs, shut down five Japanese plants, and auctioned off assets, including the company’s aerospace division.
In 2005, he became Renault’s president and chief executive, making him the first person to run two Fortune 500 companies simultaneously. While not as wealthy as the richest people in America, Ghosn’s business strategies for success were undeniable, even if some people disagreed with his methods.
Ghosn’s Recent Business Deals
Carlos Ghosn became the chairman of GM in 2005, following a merger between the company and Renault and Nissan. Ford offered to allow Ghosn to lead the company the following year, but he refused, stating he’d have to be made both CEO and chairman.
In 2007, Ghosn pushed Renault-Nissan into the electric car market, which helped make it the world leader in electric vehicles by 2017. Soon after, he was named the deputy chairman of the Russian auto manufacturer AvtoVAZ and, in 2013, became the company’s chairman.
After a long tenure, Ghosn stepped down as CEO of Nissan in 2017 while remaining chairman and was succeeded by Saikawa Hiroto. However, the year before, Ghosn had become chairman of Mitsubishi Motors following Nissan’s acquisition of a 34% stake in the company.
At Mitsubishi, Ghosn’s goal was to rehab the automaker, though he was removed from his post in 2018 after his arrest over false accounting allegations. After that, Ghosn’s affairs began to fall apart, and by the end of 2019, he was still imprisoned.
In late 2019, he was able to post bail and quickly left Japan for Lebanon, where he continues his legal battles today.
Carlos Ghosn Net Worth
In 2024, Carlos Ghosn’s net worth is estimated to be $120 Million.
What do you think about Carlos Ghosn’s net worth? Leave a comment below.
Entrepreneurs
Rich Barton Net Worth
What is Rich Barton’s net worth?
Net Worth: | $2.1 Billion |
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Age: | 57 |
Born: | June 2, 1967 |
Gender: | Male |
Height: | Unknown |
Country of Origin: | United States of America |
Source of Wealth: | Entrepreneur |
Last Updated: | Nov 4, 2024 |
Introduction
Rich Barton is an American entrepreneur and CEO of Zillow Group with an estimated net worth of $2.1 Billion.
Barton has founded multiple companies, including online travel company Zillow, job search engine Glassdoor, and photography site Trover. Barton was a venture partner at Benchmark and is on the board of directors for Netflix, Avvo, Nextdoor, and Artsy.
Career Overview
After graduating from Stanford University with an engineering degree, Rich Barton started working for the Alliance Consulting Group in 1989.
In 1991, he left and began working for Microsoft as a project manager for the operating system MS-DOS 5.0. While working for Microsoft, Barton founded the travel site Expedia in 1994 as the company was planning to build a travel guide on CD-ROM. However, Barton pitched the idea of an online service to Bill Gates, who permitted him to pursue the project.
In 1996, Expedia made its debut on the internet, and Rich was the CEO of the site’s IPO until 2003, when it was purchased for $3.6 billion.
Making Billions
After selling Expedia’s IP, Rich Barton took a year-long break from business to relax in Italy and enjoy his success. However, he didn’t rest for too long and made a comeback in 2004 to begin setting his next business plan in motion. Now in Seattle, Barton began working on the site Zillow, which he believed could transform the real estate industry.
In December 2004, Zillow was incorporated in Washington and officially launched in February 2006. Upon launch, the site included a home valuation tool, sales history, and value appreciation information. However, the site crashed on the morning of its launch because the servers weren’t strong enough to handle the immense traffic.
By 2008, Zillow had grown exponentially and, in 2010, had become incredibly profitable for the first time since its launch.
In 2012, Barton purchased Rentjuice and Hotpads, followed by Street Easy in 2013 and Trulia in 2015. All of this helped make Rich Barton one of the richest people in America, and his net worth continues to increase.
Maintaining Zillow
Although Rich Barton stepped down as CEO in 2010, he returned in 2019, replacing Spencer Rascoff. A year prior, the site began buying and selling through the new Zillow Offers, which partnered with local real estate agents. Upon returning to the CEO position, Barton began expanding Zillow Offers into new markets across the United States. However, when the pandemic struck in 2020, Zillow saw its stock hit a four-year low, forcing them to cut expenses to stay profitable.
By July 2020, Zillow became one of the first companies to allow employees to work from home permanently. This allowed them to hire an additional 1,500 employees with the plan to expand their workforce by 40% by the end of 2021.
Unfortunately, things didn’t pan out, and Barton announced in November 2021 that Zillow was shutting down its home-buying business and laying off 25% of employees.
This didn’t stop the Zillow Group from acquiring other businesses throughout the 2020s to expand their reach. These companies include ShowingTime, Follow Up Boss, and VRX Media, all of which have benefited Zillow. At the same time, Forbes named Barton a billionaire in 2020 after his earnings from Zillow continued to grow.
Now one of the richest people in the world, Rich Barton has a $700 million stake in Zillow and plans to turn it into a home-flipping machine. He’s undoubtedly lived up to his first name, earning billions through his business.
Rich Barton Net Worth
In 2024, Rich Barton’s net worth is estimated to be $2.1 Billion.
Highlights
Here are some of the best highlights of Rich Barton’s career:
- Chief executive officer of Zillow Group
- One of the top 10 innovators under 35 by MIT Technology Review (2003)
- Presidential Ambassadors for Continental Entrepreneurship (2012)
Summary
Rich Barton is an American entrepreneur and businessman best known for being the CEO of the Zillow Group.
He is also the founder of Expedia and Glassdoor. Barton was born in Connecticut and graduated from Standford University. He has also founded the online travel photography-sharing site Trover.
He was a venture partner at Benchmark and served on the boards of directors for Netflix and Artsy. In 2012, he was named one of Barack Obama‘s Presidential Ambassadors for Continental Entrepreneurship.
What do you think about Rich Barton’s net worth? Leave a comment below.
Entrepreneurs
Russell Simmons Net Worth
What is Russell Simmons’ net worth?
Net Worth: | $340 Million |
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Age: | 67 |
Born: | October 4, 1957 |
Gender: | Male |
Height: | 1.76 m (5 ft 9 in) |
Country of Origin: | United States of America |
Source of Wealth: | Entrepreneur |
Last Updated: | Nov 4, 2024 |
Russell Simmons is an American record producer and entrepreneur with an estimated net worth of $340 Million.
Simmons is the co-founder of the record label Def Jam and has been among the top 25 most influential people in the industry over the past 25 years, playing a pivotal role in bringing hip-hop music to the forefront.
Early Life
Russell Simmons was born in Queens, New York, on October 4, 1957.
He is the son of Daniel Simmons Sr. and Evelyn Simmons. His father was a public school administrator, and his mother worked as a park administrator. Simmons attended the City College of New York for some time, after which he dropped out and went on to promote local musicians.
Career
During college, Simmons met industry mentor Robert Ford Jr., and a few years later, he co-founded Def Jam Recordings with Rick Rubin. In 1985, he co-produced and appeared alongside Daryl McDaniels in the film “Krush Groove” and launched the Def Comedy Jam television program.
From Rap To Riches
The Def Comedy Jam program featured notable figures such as Dave Chappelle, Chris Rock, and Martin Lawrence, who were prominent comedians then. At the same time, Russell’s services to the music industry and hip-hop culture were honored at the 2004 VH1 Hip Hop Honors. A few years later, he produced hit films “The Nutty Professor” featuring Eddie Murphy and “How to Be a Player.”
In 2003, Russell established RushCard, a prepaid debit card provider, and launched Phat Fashions LLC, featuring Phat Farm and Baby Phat labels. The apparel line has a traditional appearance and feel thanks to the influence of designers like Ralph Lauren and Tommy Hilfiger. Not long after establishing the business, he sold Phat Farm and Baby Phat to Kellwood Company in 2004 for $140 million.
That same year, he formed the Russell Simmons Music Group as a joint venture with Universal Music’s Island Def Jam Music Group.
Simmons’ Vegan Advocacy
Additionally, he co-founded the Rush Philanthropic Arts Foundation and received an Honorary Doctorate Degree in Humane Letters from Claremont Lincoln University in 2014. He also coordinated the anti-Rockefeller Drug Law demonstrations promoting more equitable drug laws and was designated as the UN Slavery Memorial’s Goodwill Ambassador.
Russell is a huge PETA supporter and won the PETA Humanitarian Award in 2001 and the Person of the Year Award. The group PETA (People for the Ethical Treatment of Animals) fights against animal abuse in entertainment and industry, advances vegetarianism, and defends animal rights. Many celebrities, such as Pamela Anderson, Ellen DeGeneres, and Woody Harrelson, are just a few of the figures supporting PETA.
His involvement with the NGO has influenced him to live a healthier lifestyle. He has become vegan himself and promotes the routine.
Signing Lil Skies And Jack Harlow
Simmons, a vegan since 1999, supports the David Lynch Foundation, which encourages activism, mindfulness, and vegetarianism; he also practices Jivamukti Yoga and Transcendental Meditation. He supports the Somaly Mam Foundation, which combats human trafficking and sexual slavery and endorses the second Muslim Jewish Conference promoting interfaith dialogue and cooperation.
In 2012, Simmons’ book “Super Rich: A Guide to Having It All” took home the NAACP Image Award for Outstanding Literary Work – Non-Fiction.
To top it all off, Richtopia listed him as one of the 200 most influential social entrepreneurs and philanthropists worldwide in 2017.
Russell released the “Masterminds of Hip Hop” NFT collection alongside Snoop Dogg and Ice-T and became a senior advisor for the vegan brand Everything Legendary.
Recently, Russell has been more involved in Def Jam Records, signing up-and-coming artists such as Lil Skies, Jack Harlow, and Dreezy.
Estimated Net Worth
Highlights
Here are some of the best highlights of Russell Simmons’ career:
- Co-founded Def Jam (1983)
- Krush Groove (Movie, 1985)
- Launched Clothing Line (1992)
- Sold Phat Farm (2004)
Summary
Russell Simmons was one of the first producers in the industry to co-found one of the most significant record labels ‘Def Jam’. Simmons has collaborated with some of the best artists, such as Jay Z and LL Cool J.
What do you think about Russell Simmons’ net worth? Leave a comment below.
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