Who was Lily Safra? Billionaire socialite and philanthropist passes away at 87

Brazilian-Monegasque billionaire Lily Safra passed away on July 9 at the age of 87.

The widow of banker Edmond Safra, Lily died in Geneva and is scheduled to be buried on July 11. As per a spokesperson for the Edmond J. Safra Foundation, she died after battling pancreatic cancer.

Born on December 30, 1934, in Porto Alegre, Brazil, Lily Watkins was the daughter of Wolf White Watkins, a Czechoslovak railway engineer, and Annita Noudelman de Castro. She was brought up in Rio de Janeiro.

Lily Safra first got married at the age of 17 to Argentine hosiery magnate, Mario Cohen. The duo had three kids - Claudio, Eduardo, and Adriana. They got divorced in the early 1960s.

She again tied the knot in 1965 with businessman and owner of the Brazilian appliance store chain Ponto Frio, Alfredo "Freddy" Monteverde. They adopted their one and only son, Carlos.

Four years after their marriage, Monteverde took his own life in 1969. According to biographer Isabel Vincent, Lily's late husband left all his assets to her.

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Lily Safra married her fourth husband Edmond Safra in 1976

Lily Watkins married for the fourth time, this time to Edmond Safra in 1976. He was a prominent Brazilian banker and founder of the Republic National Bank of New York.

After World War II ended, the late banker's family moved to Brazil. Edmond Safra owned banks in New York and Europe, along with his brothers Moise and Joseph, who also had their own banking business.

The couple split their time between their homes in New York, Geneva, Monaco, and France. As per the New York Post, they were both art collectors. Reportedly, Lily Safra once spent $103.4 million on a Alberto Giacometti sculpture.

In 1999, Edmond died in a mysterious fire in Monaco that was later dubbed arson. Reportedly, the late banker felt so safe in the home that "he did not have his bodyguards stay the night when he slept in Monaco." It was later revealed that his nurse, Ted Maher, started the fire.

The convict's lawyer, Michael Griffith, revealed that his client indeed started the fire but just to gain acceptance from Edmond.

"It was a stupid, most insane thing a human being could do. He did not intend to kill Mr. Safra. He just wanted Mr. Safra to appreciate him more. He loved Mr. Safra. This was the best job of his life."

As per Jewage, Edmond Safra left half of his assets to several charities, and the other half to his family and wife, who got $800 million.

Lily Safra did not marry after Edmond passed away.