Eduardo Saverin, once synonymous with Facebook’s turbulent beginnings, has evolved from a co-founder into a prolific investor and heavyweight in the financial world. His journey from Harvard’s dormitories to Singapore’s high society is a testament to the lasting value of a brilliant idea and the complicated paths of entrepreneurship.
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This article examines the fortune of Eduardo Saverin, the enigmatic Facebook co-founder whose wealth has risen alongside the social media giant’s ubiquitous presence.
Who is Eduardo Saverin?
Eduardo Saverin is a Brazilian-born billionaire, entrepreneur and angel investor who is widely known as one of the co-founders of Facebook. Known for both his early involvement with Facebook and his later investments, Saverin has become a prominent figure in the technology and financial worlds.
How old is Eduardo Saverin?
Eduardo Saverin was born on March 19, 1982 [age as of the article’s publication date].
Saverin’s training spans two continents. He initially grew up in São Paulo, later moved to the USA and settled in Miami. He excelled at Gulliver Preparatory School before making his way to Harvard University, where he showed a keen interest in economics and made a considerable profit by investing in oil futures.
Saverin’s career took a crucial turn during his junior year at Harvard when he met Mark Zuckerberg. Their collaboration led to the founding of Facebook. Saverin initially served as the company’s chief financial officer and managing director. Despite a controversial exit from the company, he has continued to make a name for himself as a venture capitalist, investing in various young companies.
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Eduardo Saverin’s Net Worth
As of October 2023, Eduardo Saverin’s net worth is a whopping $10.8 billion.
How did Eduardo Saverin become so rich?
Saverin’s wealth largely comes from his co-founding stake in Facebook. Although he reduced his stake over time, the value of his initial holdings has increased exponentially. His career as a venture capitalist, particularly through his company B Capital, has further increased his wealth.
How much money did Eduardo Saverin make?
From his early stake in Facebook to his extensive investment portfolio, Saverin has amassed billions. While exact figures regarding individual investments are not disclosed, his known net worth reflects his financial success.
Were Mark Zuckerberg and Eduardo Saverin friends?
Zuckerberg and Saverin were originally close friends when they founded Facebook. However, their relationship deteriorated due to business disputes, leading to litigation and reducing Saverin’s role in the company.
How much did Zuckerberg settle with Saverin?
The exact terms of the agreement between Zuckerberg and Saverin were not disclosed. However, it is known that Saverin retained a stake in Facebook that is now worth almost $5 billion.
Did Eduardo Saverin lose his shares?
Saverin did not lose his shares, but agreed to a dilution of his stake, which was part of the controversial settlement he reached with Facebook after his departure.
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Why did Zuckerberg kick out Eduardo?
Tensions between Zuckerberg and Saverin stemmed from Saverin’s lack of commitment and disagreements over Facebook’s direction. This ultimately led to Saverin reducing his role and share in the company.
Eduardo Saverin’s fortune reflects a journey full of triumphs and adversities. His story is part of the larger narrative of Silicon Valley startups and embodies the risks and rewards of technology entrepreneurship. From his early days at Harvard to his current status as a billionaire investor, Saverin’s financial acumen has kept him afloat in a sea of fierce competition and rapid innovation.
FAQs about Eduardo Saverin’s net worth
- How much of Facebook does Eduardo Saverin own?
In 2012, Saverin owned 53 million Facebook shares, which represented about 2% of all shares outstanding at the time.
- What role does Eduardo Saverin now play at Facebook?
Eduardo Saverin is no longer active at Facebook after parting ways with the company following the settlement of legal disputes with Mark Zuckerberg.
- Has Eduardo Saverin invested in other successful startups?
Yes, Saverin has invested in several successful startups, including Qwiki and Jumio, and continues to invest through his venture capital firm B Capital.
- Why did Eduardo Saverin renounce his US citizenship?
In 2011, Saverin renounced his US citizenship, which many speculate, to avoid capital gains taxes, although Saverin has stated that this was for personal and business reasons, particularly his long-term residence in Singapore.
- What impact did Eduardo Saverin’s investment in oil futures have on his wealth?
While at Harvard, Saverin earned $300,000 investing in oil futures, demonstrating his business acumen early on and adding to his fortune before founding Facebook.