Son of Brazilian billionaire banker Joseph Safra sues his mother and two ... trends now
The son of one of the world's wealthiest bankers is suing his own mother and two brothers in a bid to regain what he claims is his rightful share of his late father's fortune - despite inheriting around $1.8 billion when he died.
Alberto Safra, 41, filed the lawsuit in the New York State Supreme Court Monday, alleging his relatives deliberately diluted his stake in the holding company for the family's New York-based bank after he left to start a competing firm.
Safra claims his mother, Vicky Safra, 70, and brothers Jacob and David Safra, 'engaged in various crimes designed to harm Alberto's valuable interests in the company' started by the late Brazilian Joseph Safra, who died in December 2020.
He alleges they did this when his father, the world's richest banker and the wealthiest person in Brazil, was forced to amend his will while 'severely cognitively impaired' on his deathbed and 'could not agree to the maneuvers.'
The three siblings, along with their sister Esther Safra Dayan, inherited a little less than half of the late Brazilian tycoon's nearly $14 billion fortune when he died. Safra left the board of Brazilian-based Banco Safra in 2019.
Alberto Safra (at left), filed the lawsuit Monday, naming younger brother David as one of the defendants. The suit alleges that David and other relatives deliberately diluted his stake in the holding company responsible for the family's New York branch
The suit alleges that Ablerto's mother, Vicky Safra (right), David and another brother 'engaged in various crimes designed to harm Alberto's valuable interests in the company,' which was started by the late Brazilian Joseph Safra, one of the wealthiest bankers in the world
The suit, filed in New York State Supreme Court, serves as the latest installment in a bitter battle of succession between the family members, which began when 36-year-old David, who heads Banco Safra with older brother Jacob, joined the firm in 2008.
At that point, Alberto writes, his younger brother embarked on a relentless campaign for power within the company, causing constant disagreements between the pair.
Also named in the suit is older brother Jacob, who runs the $9billion New York bank
The Sao Paulo-based banker alleges this dynamic continued for more than a decade, with the brothers' father often smoothing out the spats.
However, when Joseph's health began to
