Eduardo Saverin Net Worth: Are Eduardo Saverin And Mark Zuckerberg friends?

What is Eduardo Saverin Net Worth, people ask too much nowadays. Internet pioneer Eduardo Saverin was born in Brazil. One of the most well-known things about Eduardo Saverin is that he helped create Facebook. When Facebook was first started in late 2003, Eduardo put up the initial funding of around $15,000. In February 2004, TheFacebook.com became live. Mark Zuckerberg was a Sophomore and Eduardo was a Junior.

Those monies were used to buy the first servers for the company and cover other initial expenses. Eduardo took a summer internship at Lehman Brothers in New York City while Mark relocated to Palo Alto to oversee the firm.

Soon after, Eduardo was embroiled in a legal dispute with Facebook and its founder, Mark Zuckerberg, and had done virtually nothing else for the firm. Regardless of the ups and downs, Eduardo is now one of the wealthiest persons in the world because of his initial investment of only $15,000. For all intents and purposes, Saverin is the only co-founder of Facebook who has no role in day-to-day operations.

Early Life

On March 19, 1982, Eduardo Luiz Saverin entered the world to the sounds of Sao Paulo’s ritzy Jewish community. His formative years were spent in Rio de Janeiro after his family had relocated there. Roberto’s dad, before retiring, had careers in the textile, shipping, and real estate sectors. Sandra, his mom, was a psychologist. In addition to him, he has two siblings. Eugenio Saverine, his grandpa, started the Tip Top childrenswear chain and was born in Romania.

After Eduardo’s name was found on a list of abduction victims by gangs specializing in kidnapping for ransom, he and his family emigrated to the United States and settled in Miami, Florida in 1993.

To get a head start in life, Saverin enrolled at Gulliver Preparatory School in Miami. He subsequently enrolled at Harvard. He was president of the Harvard Investment Association, a brother of Alpha Epsilon Pi, and a key figure in the Phoenix S.K. Club while he was a student at Harvard. While still a student at Harvard, he capitalized on his passion for meteorology to make $300,000 by trading oil futures and predicting hurricanes. In 2006, he received his bachelor’s degree in economics with the highest honors.

Facebook

As a junior at Harvard, Saverin crossed paths with Mark Zuckerberg, who was then a sophomore. Mark was recently employed by the Winklevoss twins to develop the pioneering social networking platform The Harvard Connection. Instead of printing out individual biographies for each incoming college freshman, Mark opted to create an online version of the book. The Face Book was the title of this tome.

Mark proposed the concept of TheFacebook.com to Eduardo in late 2003. Mark was able to purchase servers and launch the site thanks to financial backing of Eduardo. On February 4, 2004, Mark Zuckerberg unveiled his vision for TheFacebook.com. Saverin served as CFO and manager of business operations as a co-founder. Along with Mark Zuckerberg, Dustin Moskovitz, and Chris Hughes, Saverin is one of Facebook.com’s four original founders.

Mark relocated to Palo Alto to work on what would become “Facebook.com” that summer, while Eduardo went to New York City for an internship with Lehman Brothers.

Eduardo had acquired 34% of Facebook by the time Mark Zuckerberg had moved the company headquarters to Palo Alto.

It was during that summer that tensions between Eduardo and Mark began to rise. Mark felt furious that Eduardo was in New York working on other projects rather than making the trip to Palo Alto. After Mark found out that Eduardo was running unlawful ads on Facebook for a work website he created on his own called Joboozle, their friendship quickly deteriorated.

Mark emailed Eduardo in a rage, saying:

“You made Joboozle because you anticipated that Facebook would want to enter the labor market at some point. As it stands, this is very terrible on its own, and we were taken aback to learn that you built this as a side project only to have it compete with Facebook. However, it’s cruel to promote it by posting Facebook advertising for no cost.”

Share Dilution

At some time, Eduardo began to hate Mark’s business judgments and felt excluded from them. He then froze Facebook’s bank account as a form of protest. Mark Zuckerberg retaliated by engaging in corporate sabotage in an effort to reduce the influence he had on Facebook’s financial strategy.

Facebook was on the verge of accepting a $500,000 investment from Peter Thiel in exchange for 9% of the company. Facebook had to incorporate a new limited liability company (LLC) in the state of Delaware in order to buy the existing Florida business before it could receive the money.

At the time of the merger, Eduardo’s stake in the new company was 24%, down from 34% in the old one. A legal document signed by Eduardo transferred his ownership of 3 million “founder’s shares” and all of his rights to Facebook’s intellectual property. As a result of this deal, Facebook gave out 9 million new shares to every co-founder EXCEPT for Eduardo. This meant that Saverin’s shareholding was cut to below 10%.

Eduardo was obviously outraged upon learning this and promptly launched a lawsuit. Facebook filed a countersuit, claiming that Saverin’s stock purchase agreements from October 2005 were null and void. This summer, Saverin claimed that Zuckerberg had used Facebook funds (his funds) for his own personal use. After settling two lawsuits out of court, Eduardo was given a substantially larger ownership part in the business.

Other Businesses

With his buddy and former Bain Capital consultant/vice president Raj Ganguly, Saverin established the startup capital firm B Capital in 2015. More than a billion dollars in assets are managed by Saverin, Ganguly, and three other general partners across four locations and two funds. At the beginning of 2016, Saverin’s fund signed initial acquisitions totaling over $140 million in Asia.

This sum included $30 million invested across the regional logistics firm Ninja Van. Additionally, Anideo, a Singaporean company led by Saverin’s old buddy Andrew Solimine, has received funding from him. Denso, the company’s video streaming software, is tailored to each individual user by taking into account their preferences in viewing material.

He also backed companies like ShopSavvy (a smartphone app for comparing prices), Qwiki (a website for sharing and viewing multimedia content), and Jumio (the company behind the innovative online payment system Netswipe). Saverin also helped establish the charitable giving website Aporta that same year.

Personal Life

Saverin gave up his American citizenship back in September 2011. He saved almost $700 million in capital gains taxes because of this. In order to pursue his goals of establishing a new life in Singapore, he renounced his U.S. citizenship in 2009 and has been a permanent resident there ever since. It was a claim he strongly refuted: that he had fled the country to avoid paying taxes. Also, read about Hilary Farr Net Worth

In Massachusetts, Saverin met Elaine Andriejanssen, who he later reconnected with after relocating to Singapore to pursue his career. In the early spring of 2014, they were engaged and celebrated with a magnificent Bali-based engagement party, where guests were treated to a performance by John Legend. The couple tied the knot on the French Riviera on June 25, 2015.

She received her education from Raffles Girls’ School in Singapore and then continued on to study at Tufts University, making her a Chinese Indonesian lady. At Franklin Templeton Investments, she performed quantitative research analysis. In Indonesia, her family owns and operates various enterprises.

In The Social Network, Andrew Garfield portrays Saverin, who was instrumental in creating Facebook.

Are Eduardo Saverin And Mark Zuckerberg friends?

Mark Zuckerberg counted only Eduardo as a close buddy before Facebook. After Eduardo’s Facebook shares were diluted, he filed a lawsuit against Mark. Mark’s legal team was likely seeking evidence to use against Eduardo to prove that his behavior had put the business at risk. Apparently, Eduardo has been accused of mistreating animals.

Eduardo Saverin Net Worth

Salary Highlights

When Facebook went public, the SEC form revealed that Saverin owned 53,133,360 shares for a total of $2.18 billion, or less than 2% of the company’s outstanding shares. Had he not divested himself of more than half of his shares before the IPO, that would have been worth a lot more.

Eduardo Saverin Net Worth

Eduardo Saverin Net Worth is estimated to be around $19 Billion currently. During the year 2019, Saverin spent $167 million on a mansion that sat on two acres in Singapore. The two-story home has a gated driveway and is situated on a tree-lined lane in a wealthy area of Singapore. There’s a pool, a tennis court, and a huge backyard at this place.

It has been said that Saverin also owns a lavish apartment in the highest building in Singapore.

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