Auction of Safra Jewels Raise $38 Million for Charity

By JTA May 15, 2012

An auction of jewels belonging to billionaire Lily Safra raised nearly $38 million for charity.

The auction, “Jewels For Hope: The Collection of Mrs. Lily Safra,” was held Monday at Christie’s Geneva.

Proceeds from the auction were set to go to 32 charitable organizations through The Lily Safra Foundation. Among the organizations are: ALEH: Caring for Israel‟s Disabled; A Computer for Every Child, Israel; Edmond and Lily Safra Center for Brain Sciences, The Hebrew University of Jerusalem; Edmond and Lily Safra Children’s Hospital, Tel Hashomer, Israel; and the Israel Philharmonic Orchestra

A 32-carat Burmese ruby-and-diamond ring sold for $6.7 million, a world record for any ruby sold at auction, Forbes reported. In all 70 pieces of jewelry were sold.

Safra is the widow of Lebanese banker Edmond Safra, who died in 1999. She has a net worth of $1.2 billion, according to Forbes’s most recent listing of the world’s wealthiest individuals.

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