Eduardo Saverin

Eduardo Saverin
Name	Eduardo Saverin
Caption	Saverin in 2019
Birth date	19 March 1982
Birth place	São Paulo, Brazil
Education	Harvard University (BA)
Occupation	Entrepreneur, venture capitalist
Known for	Co-founding Facebook
Networth	US$16.1 billion (April 2024)

Eduardo Saverin is a Brazilian-born entrepreneur and investor best known as a co-founder of the social media giant Facebook. His early financial backing and business role were instrumental in the company's formation, though a protracted legal conflict with fellow co-founder Mark Zuckerberg led to his departure. Following the settlement, Saverin became a billionaire and has since established himself as a prominent venture capitalist and philanthropist based in Singapore.

Early life and education

Born into a wealthy Sephardic Jewish family in São Paulo, his father, Roberto Saverin, was a prominent industrialist whose business interests included textiles, shipping, and real estate. He attended the prestigious Colégio Dante Alighieri before moving to the United States for higher education. He initially enrolled at the University of Miami but transferred after two years to Harvard University, where he pursued a degree in economics. At Harvard College, he was a member of the Alpha Epsilon Pi fraternity and the Harvard Investment Association, demonstrating an early aptitude for finance. It was in his sophomore year at Harvard University that he met Mark Zuckerberg.

Co-founding Facebook

In 2004, he partnered with Mark Zuckerberg, Dustin Moskovitz, Chris Hughes, and Andrew McCollum to launch "TheFacebook" from their Harvard University dormitory. He provided the initial seed funding of $15,000, served as the company's first chief financial officer, and was named in the original business plan as a key partner. His contributions included establishing the first business model around advertising, drafting the initial corporate documents, and managing the fledgling company's finances. During this period, he also secured an internship at the investment bank Lehman Brothers in New York City.

Legal disputes and departure from Facebook

A significant rift developed when he moved to New York City to work at Lehman Brothers while Mark Zuckerberg and others relocated operations to Palo Alto, California. He later alleged that Mark Zuckerberg deliberately diluted his ownership stake from 34% to under 0.1% through the creation of a new limited liability company. This conflict culminated in a 2005 lawsuit filed against Mark Zuckerberg and Facebook. The highly publicized legal battle was eventually settled out of court in 2009, with the terms remaining confidential but reportedly restoring a significant portion of his equity. The dispute was famously dramatized in the 2010 film The Social Network, where his character was portrayed by actor Andrew Garfield.

Post-Facebook career and investments

Following the settlement, he utilized his wealth to become a global venture capitalist and angel investor. He co-founded the venture capital firm B Capital Group in 2015 with Raj Ganguly and investor Howard Morgan, focusing on growth-stage investments in North America and Asia. The firm's portfolio includes companies like Ninja Van, Icertis, and Carro. He has also made numerous personal investments in technology startups across sectors such as fintech, e-commerce, and healthtech, including early stakes in Qwiki and Jumio. He relocated his primary residence to Singapore, a major hub for his investment activities in Southeast Asia.

Personal life and citizenship

He renounced his United States citizenship in 2011, a move that coincided with Facebook's impending initial public offering and generated significant media attention and political scrutiny. He subsequently became a permanent resident and citizen of Singapore, where he resides. He is married to Elaine Andriejanssen, a former Miss Singapore contestant and entrepreneur, and they have two children. His decision to change citizenship was attributed to his business interests in Asia and his personal connection to Singapore.

Philanthropy

He has engaged in substantial philanthropic efforts, often through the Saverin Foundation. His giving focuses on areas such as education, scientific research, and community development. He has donated millions to his alma mater, Harvard University, including a major gift to support the Harvard Innovation Labs. Other significant beneficiaries include the Singapore University of Technology and Design and various COVID-19 pandemic relief efforts in Brazil and Singapore. He has also supported Jewish charitable causes and organizations promoting entrepreneurship.

Category:1982 births Category:Living people Category:Brazilian billionaires Category:Brazilian emigrants to the United States Category:Brazilian Jews Category:Harvard University alumni Category:Facebook people Category:Technology company founders Category:Venture capitalists Category:People from São Paulo