Eduardo Saverin
Eduardo Saverin
From Wikipedia, the free encyclopedia
Eduardo Luiz Saverin[4][5] (born March 13, 1982;[6] Portuguese: [eduˈaɾdu ˈsaveɾĩ] or [saveˈɾĩˑ]) is a Brazilian internet entrepreneur and investor.[7] Saverin is one of four co-founders of Facebook, along with Mark Zuckerberg, Dustin Moskovitz, and Chris Hughes.[8] As of 2012, he owns less than 5% of Facebook's shares and has a net worth of $2 billion, according to Forbes. He has also invested in early-stage startups such as Qwiki[9] and Jumio.[10]
Personal life
Eduardo Saverin was born in São Paulo, Brazil, to a wealthy Jewish Brazilian family,[11][12][13][14] and was raised in Miami, Florida. Eduardo's father was a Brazilian industrialist working in export, clothing, shipping, and real estate.[15]
By 1993, Saverin's father had become wealthy, and in 1993 it was discovered that his son Eduardo´s name had been placed on a list of kidnapping victims by gangs specializing in kidnapping for ransom. As a result, the family moved to Miami to find a safer place to live. Saverin attended Gulliver Preparatory School in Miami, and went on to Harvard University, where he was a member of the Phoenix S.K. Club as well as president of the Harvard Investment Association. While an undergraduate at Harvard, Saverin took advantage of Brazil's lax insider trading regulations and made $300,000 via strategic investments in the oil industry.[16][15][17] In 2006, Saverin graduated magna cum laude from Harvard University with a bachelor's degree in economics. He is a member of the Alpha Epsilon Pi Fraternity (Eta Psi chapter of Harvard University).
Saverin has lived in Singapore since 2009.[18][19] In September 2011, he renounced his U.S. citizenship; the citizenship change may reduce the capital gains taxes Saverin pays after the Facebook IPO, although his taxes may increase initially.[7][20] Saverin's renunciation of U.S. citizenship may result in his not being permitted to enter the U.S. in the future if the Ex-Patriot Act, which was proposed in response to Saverin's anouncement, becomes law.[21][22]
Facebook
During his junior year at Harvard University, Saverin met fellow Harvard undergraduate, sophomore Mark Zuckerberg. Noting the lack of a dedicated social networking website for Harvard students, the two worked together to launch The Facebook in 2004. As co-founder, Saverin held the role of chief financial officer and business manager.[23] As Facebook rapidly expanded to universities across the US, internal conflicts and differences of opinion between Saverin and Zuckerberg regarding Facebook's direction resulted in Saverin's diminished involvement and influence in Facebook. The conflict peaked when Saverin's shares were diluted from the original 34.4%.
A lawsuit filed by Saverin against Facebook was settled out of court. Though terms of the settlement were not disclosed, the company affirmed Saverin's title as co-founder of Facebook. Saverin signed a non-disclosure contract after the settlement.[24]
As of 2010, Saverin has liquidated at least $250 million worth of Facebook stock to later-stage investors such as Digital Sky Technologies [25][26], as well as via secondary exchanges like SharesPost.[27]
Depictions in media
In the 2010 film The Social Network, which depicts the relationship between Saverin and Mark Zuckerberg from the creation of Facebook to Saverin taking legal action against Zuckerberg, Saverin is played by actor Andrew Garfield. Garfield's portrayal of Saverin was met with critical acclaim and received nominations for the Golden Globe Award for Best Supporting Actor - Motion Picture, BAFTA Award for Best Actor in a Supporting Role,[28] and the Broadcast Film Critics Association Award for Best Supporting Actor.
| Author: | Bling King |
| Published: | May 19th 2012 |
| Modified: | May 19th 2012 |
US $2 billion (March 2012)