Eduardo Saverin, along with Mark Zuckerberg, Chris Hughes, Dustin Moskovitz, and Andrew McCollum, is a co-founder of Facebook. He is an active angel investor and a Brazilian Internet entrepreneur. When he surrendered his American citizenship in 2011, he took center stage. He is alleged to have renounced his American citizenship in order to avoid paying capital gains taxes. He presently resides in Singapore, having relocated there in 2009. He co-founded the ‘B Capital Group’ in 2015. ‘B Capital Group,’ ‘Ninja Van,’ ‘Aporta,’ ‘Lyft,’ ‘Qwiki,’ and ‘Jumio,’ among others, are among his biggest investments. Eduardo Saverin’s net worth as of August 2020, according to ‘Forbes,’ is $14.7 billion. He and Mexican businessman Aldo Alvarez co-founded ‘Aporta,’ an online charity portal, in 2010. His role in the establishment of Facebook and his connection with Mark Zuckerberg are highlighted in ‘The Social Network,’ a film based on the origins of Facebook. Andrew Garfield portrays him in the film.
Childhood and Adolescence
Eduardo Luiz Saverin was born into a Jewish family in Sao Paulo, Brazil, on March 19, 1982. He has two brothers and sisters. His father, Robert Saverin, was a successful businessman in the garment, shipping, and real estate industries. Sandra, Eduardo’s mother, was a psychologist.
Eduardo was introduced to entrepreneurship at a young age. While his father was a wealthy businessman, his grandpa Eugenio Saverin, a Romanian, launched the popular children’s clothing firm ‘Tip Top.’
His family relocated to Rio de Janeiro throughout his childhood, before settling in Miami, Florida, in 1993.
Eduardo finished his primary schooling at Miami’s ‘Gulliver Preparatory School.’ Later, he attended one of Harvard’s ‘Ivy League Colleges’ for his undergraduate degree. He presided over the ‘Harvard Investment Association’ and was a member of the ‘Phoenix S. K. Club.’
He’s also a member of the ‘Alpha Epsilon Pi Fraternity,’ which was founded to foster leadership skills in the Jewish community.
He is thought to have profited roughly $300,000 as an undergrad due to Brazil’s lenient insider trading restrictions.
In 2006, he received a bachelor’s degree in economics from ‘Harvard University.’
When he met Mark Zuckerberg at ‘Harvard,’ he chose to help him create ‘facebook.com,’ and his life changed forever.
Career of Eduardo Saverin
In his junior year at ‘Harvard,’ Eduardo met Mark. Mark planned to create a social networking site that also served as an online directory for ‘Harvard’ students, but he required funding to do it.
Eduardo decided to back Mark since he thought his innovative idea was worth investing in. Mark had no intention of using Facebook.com to gain money. In truth, Mark’s sole goal was to establish an innovative website that would allow people to connect. Eduardo, who sought to gain money through this website, was unaware of his strategy. As a result, he chose to fund Mark’s company and became a co-founder, paying for all of his servers and other essentials.
The founders of Facebook intended to push it beyond its constraints after successfully introducing it at ‘Harvard.’ As a result, they chose to relocate to Palo Alto, California. Saverin, on the other hand, travelled to New York in 2004 for an internship at ‘Lehman Brothers.’
During his internship, Saverin was meant to focus on raising cash, forming a firm, and developing a business strategy. After that, he became the company’s first chief financial officer.
Saverin had placed unlawful ads on Facebook without Mark Zuckerberg’s knowledge. He even created a job board website called ‘Joboozle.’
This resulted in a bitter feud between Zuckerberg and Saverin. After Saverin refused to supply Facebook with the necessary financing, Mark was forced to seek for additional investors.
Sean Parker stepped in for Eduardo Saverin when it came to raising cash for Facebook. Another investor who came into contact with Mark, Peter Thiel, persuaded Mark to cut relations with Eduardo.
To cut Saverin off, Zuckerberg founded a new Delaware corporation called Facebook and distributed its new shares to everyone except Saverin.
Eduardo had to sign a contract appointing Mark as Facebook’s sole director.
He was also removed from Facebook’s roster of co-founders. When Eduardo approached the media, Facebook reinstated Eduardo’s name alongside Mark Zuckerberg, Dustin Moskovitz, and two other co-founders. Eduardo and Facebook reached an out-of-court arrangement that stopped Eduardo from leaking information about Facebook to the public.
Eduardo and a Mexican reporter, Aldo Alvarez, co-founded ‘Aporta’ in 2010. It is a charitable online platform.
In 2016, his firm made its first investments in Asia, totaling more than $140 million, including $30 million in the startup ‘Ninja Van.’
Achievements & Awards
With Mark Zuckerberg and three others, he co-founded Facebook. He was Facebook’s financial director and chief financial officer.
He put a lot of money into the internet retailer ‘Redmart,’ which is based in Singapore.
He placed big bets on ‘Uber,’ ‘Lyft,’ and other automobile rental firms like ‘Flightcar,’ and ‘Silvercar,’ among others.
‘Forbes’ named him one of the world’s most brilliant business minds.
Personal History and Legacy
Eduardo Saverin is married to Elaine Andriejanssen, a Chinese Indonesian woman. She hails from a business-oriented family in Massachusetts that runs multiple firms. On March 27, 2014, they got engaged, and on June 25, 2015, they married on the French Riviera.
Eduardo is a multi-millionaire who lives in a multi-million dollar penthouse in Singapore. With his iPhone, iPad, and three MacBooks, he is always connected to the rest of the world.
He’s obsessed with weather forecasts. One of his three Macs continues to run weather programs. After Hurricane Andrew slammed South Florida in 1992, he became more interested in weather forecasting.
Eduardo is a quiet yet determined man. What distinguishes him is his outstanding business mind.
In 2011, he abandoned his US citizenship. He is thought to have done so to avoid paying $700 million in capital gains taxes. He argues, however, that he has always wanted to return to Singapore and that he can only pay the US government as much in taxes as he owes.
Eduardo still believes in Mark and admires him, despite the controversy surrounding his removal from Facebook. Mark has always been a visionary, according to him, and he has remained more committed to Facebook than anyone else.
Eduardo prefers to maintain a low profile on social media sites.
When asked about the film “The Social Network,” he described it as a Hollywood fantasy that is overblown.
Estimated Net Worth
Eduardo Saverin, a Brazilian-born internet entrepreneur with a net worth of $19 billion, is one of the wealthiest people on the planet. Eduardo Saverin is well-known for being one of Facebook’s co-founders. Eduardo was the first person to invest in Facebook, giving it $15,000 in late 2003. In February 2004, TheFacebook.com was launched. Eduardo was a sophomore, while Mark Zuckerberg was a junior. These money were used to cover the costs of the company’s first servers and other beginning expenses.
He is a venture capitalist, which means he invests a lot of money in future enterprises.
He sold his Facebook stock to companies such as ‘Digital Sky Technologies’ and ‘SharesPost.’
Andrew Garfield played him in the 2010 film ‘The Social Network.’ Andrew was nominated for a ‘BAFTA’ and a ‘Golden Globe’ for his performance.
‘B Capital Group’ is his co-founder.
As a 13-year-old, he drew media notice when he defeated a chess grandmaster in a match in Orlando.