A magnetically coupled safety valve with satellite outer magnets. A safety valve includes a housing having multiple chambers extending longitudinally in a pressure bearing wall of the housing, and multiple magnetic devices, each of the magnetic devices being reciprocably disposed in a corresponding one of the chambers. Another safety valve includes multiple first magnetic devices, a second magnetic device magnetically coupled to the first magnetic devices, with the first magnetic devices being circumferentially spaced apart and encircling the second magnetic device. Yet another safety valve includes a housing having a pressure bearing wall, and multiple magnetic devices, each of the magnetic devices being reciprocably disposed in the housing wall, and each of the magnetic devices being completely surrounded by the housing wall.