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From: Free Thinking Doggie
'In 1949, the family moved from Lebanon to Italy, where he worked for a trading company in Milan. When Safra was 16, he earned $40 million during arbitrage transactions between Italian and British gold sovereigns. He used this money to obtain a financial house in Geneva, which became his Trade Development Bank, and used only ancient Arabic script for its bookkeeping.[13] The family moved to Brazil in 1952, where he and his father founded their first Brazilian financial institution in 1955.' $40 m was a lot of money back in 1949..

Current Thread	Author	Time
Netflix doc all about the Safra affair in Monaco. V interesting....[more]	Free Thinking Doggie	07:25:20
>> It was that nurse.	Denc 🗡	14:43:51
>> Great. Will watch. A murky business, Hermitage Capital etc. Plane loads of dollars ... [more]	JonH🍕	10:52:51
>> And I now know where the prison is. Near the Oceanographic museum, which we ... [more]	Free Thinking Doggie	10:05:36
>> Above the open air cinema.	Denc 🗡	14:45:26
>> 'In 1949, the family moved from Lebanon to Italy, where he worked for a trading ... [more]	Free Thinking Doggie	07:35:12
>> Not uncommon to use Arabic in bookkeeping	Hamsterwheel	09:55:22
>> There are 1 or 2 reasons for that.	Opisthocomus	10:56:14
>> Tell it to the Marines...[more]	Hamsterwheel	11:45:56

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