Eduardo Saverin

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Eduardo Saverin
Eduardo Saverin CHINICT.JPG
Saverin at the CHINICT conference
on May 25, 2012
Born
Eduardo Luiz Saverin

(1982-03-19) 19 March 1982 (age 36)
São Paulo, Brazil
ResidenceSingapore
CitizenshipBrazil[1][2]
United States (1998–2011)
Alma materHarvard University (BA)
Known forCo-founder of Facebook
Net worthUS$9.1 billion[3] (2018)
Spouse(s)Elaine Andriejanssen (m. 2015)
Websitewww.facebook.com/saverin

Eduardo Luiz Saverin (/ˈsævərɪn/; Portuguese: [eduˈaɾdu luˈis ˈsaveɾĩ]; born March 19, 1982)[4] is a Brazilian-born entrepreneur and angel investor.[5] Saverin is one of the co-founders of Facebook.[6] In 2012, he owned 53 million Facebook shares[7] (approximately 2% of all outstanding shares), valued at approximately $2 billion at the time.[8][9] He also invested in early-stage startups such as Qwiki[10] and Jumio.[11]

Saverin renounced his U.S. citizenship in September 2011,[12][13] and therefore avoided an estimated $700 million in capital gains taxes; this generated some media attention and controversy.[5][14][15] Saverin stated that he renounced his citizenship because of his "interest in working and living in Singapore" where he has been since 2009,[16] and denied that he left the U.S. to avoid paying taxes.[12]

Early life and education[edit]

Eduardo Luiz Saverin was born in the city of São Paulo, to a wealthy Jewish Brazilian family,[6][17][18] and his family later moved to Rio de Janeiro. Saverin's father, Roberto Saverin, was a businessman working in clothing, shipping, and real estate.[19] His mother, Sandra, was a psychologist. He has two siblings.[20] His Romanian-born grandfather, Eugenio Saverin (born Eugen Saverin), is the founder of Tip Top, a chain of children's clothing shops.[20] In 1993, the family immigrated to the U.S., settling in Miami.[21]

Saverin attended Gulliver Preparatory School in Miami. He then attended Harvard University, where he was a resident of Eliot House, a member of the Phoenix S.K. Club, and 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.[19][22][23] In 2006, Saverin graduated magna cum laude from Harvard University with a bachelor's degree in economics.[24] He is a member of the Alpha Epsilon Pi fraternity (Eta Psi chapter of Harvard University).[25]

Career[edit]

During his junior year at Harvard, 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. They each agreed to invest $1,000 in the site. Later, Zuckerberg and Saverin each agreed to invest another $18,000 in the operation.[26] As co-founder, Saverin held the role of chief financial officer and business manager.[6] On May 15, 2012, Business Insider obtained and released an exclusive email from Zuckerberg detailing how he cut Saverin from Facebook and diluted his stake.[27] Facebook filed a lawsuit against Saverin, arguing that the stock-purchase agreements Saverin signed in October 2005 was invalid. Saverin then filed a suit against Zuckerberg, alleging Zuckerberg spent Facebook's money (Saverin's money) on personal expenses over the summer.[28] In 2009, both suits were settled out of court. Terms of the settlement were not disclosed and the company affirmed Saverin's title as co-founder of Facebook. Saverin signed a non-disclosure contract after the settlement.[29][30]

In 2010, Saverin co-founded Aporta, an online portal for charity.[21][31]

In 2016, Saverin's fund closed initial deals of over $140 million in Asia, including $30 million in regional logistics startup Ninja Van.[32]

Personal life[edit]

Saverin met Elaine Andriejanssen, a Chinese Indonesian woman who was educated at Raffles Girls' School and Tufts University. She comes from a family which runs several businesses in Indonesia.[33] On March 27, 2014, they got engaged and were married on June 25, 2015, in the French Riviera.[34][35]

References[edit]

  1. ^ Kucera, Danielle; Harper, Christine; Drucker, Jesse (12 May 2015). "Facebook Co-Founder May Gain Choosing Singapore Over the U.S." Bloomberg. Retrieved 14 May 2015. Saverin still does hold Brazilian citizenship, Goodman said.
  2. ^ "Saverin 'has no plans to become S'pore citizen'" (PDF). Today. 2012-05-17. Archived from the original (PDF) on May 26, 2013. Retrieved 2012-05-17.
  3. ^ "Eduardo Saverin Net Worth". Forbes.
  4. ^ Internal Revenue Service (2012). "Quarterly Publication of Individuals, Who Have Chosen to Expatriate, as Required by Section 6039G". Federal Register.
  5. ^ a b Kucera, Danielle; Vallikappen, Sanat; Harper, Christine (2012-05-11). "Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO". Bloomberg L.P. Retrieved 2012-05-11.
  6. ^ a b c Mezrich, Ben. The Accidental Billionaires. Doubleday. ISBN 978-0-385-52937-2.
  7. ^ Eduardo Saverin (17 May 2012). "UNITED STATES SECURITIES AND EXCHANGE COMMISSION INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES - Eduardo Saverin". U.S. Securities and Exchange Commission.
  8. ^ https://www.forbes.com/sites/briansolomon/2012/05/18/eduardo-saverins-net-worth-publicly-revealed-more-than-2-billion-in-facebook-alone/#26d547432ac4
  9. ^ "The World's Billionaires 2017". Forbes. Retrieved 2018-02-09.
  10. ^ Bosker, Bianca, "Facebook Co-Founder Eduardo Saverin Invests In Qwiki"
  11. ^ Wauters, Robin, "Exclusive: Facebook Co-Founder Eduardo Saverin Leads $6.5M Round For Jumio", TechCrunch, Thursday, March 17, 2011
  12. ^ a b Mathews, Merrill (23 May 2012). "In Praise Of Eduardo Saverin's Tax Avoidance". Forbes. Retrieved 9 February 2016.
  13. ^ "So How Much Did He Really Save?". Wall Street Journal. 18 May 2012. Retrieved 9 February 2016.
  14. ^ McCormick, Jason (11 July 2012). "5 citizens who left the United States to avoid paying tax". CBS News. Retrieved 17 June 2014.
  15. ^ Worstall, Tim (May 12, 2012). "IPO Will Increase, Not Reduce, His Tax Bill". Forbes. Retrieved May 12, 2012.
  16. ^ David Benoit (17 May 2012). "Facebook Co-Founder Saverin Fires Back At 'Misinformation'".
  17. ^ The Social Network: How Jewish is Facebook?, The Jewish Chronicle, Jennifer Lipman, October 14, 2010
  18. ^ Amormim, Lucas (2009). "Zuckerberg: jovem, bilionário e... trapaceiro?" [Zuckerberg: young billionaire ... cheater?]. Exame (in Portuguese). Editora Abril. Retrieved 23 May 2016.
  19. ^ a b Tagiaroli, Guilherme; Ikeda, Ana (October 22, 2010). "Conheça Eduardo Saverin, o brasileiro que ajudou a fundar o Facebook" [Meet Eduardo Saverin, the Brazilian who helped found Facebook]. UOL (in Portuguese). Retrieved May 12, 2012.
  20. ^ a b Antunes, Anderson (27 May 2012). "Eduardo Saverin Finally Opens Up: 'No Hard Feelings Between Me And Mark Zuckerberg". Forbes. Retrieved 26 May 2016.
  21. ^ a b "Eduardo Saverin, o brasileiro do Facebook, conta sua história" [Eduardo Saverin, the Brazilian of Facebook, tells his story]. Veja (in Portuguese). Grupo Abril. 26 May 2012. Retrieved 23 May 2016.
  22. ^ The Truth Behind Facebook's Founding is Finally Revealed
  23. ^ "A Facebook Tale: Founder Unfriends Pals on Way Up", NPR
  24. ^ "Facebook Founders Bios". Facebook.
  25. ^ "Eduardo Saverin: 10 Things To Know About The Facebook Co-Founder". International Business Times. 2012-05-04. Retrieved 2017-03-28.
  26. ^ Hoffman, Claire (September 15, 2010). "The Battle For Facebook". Rolling Stone. Wenner Media. Retrieved July 4, 2017.
  27. ^ Carlson, Nicholas (15 May 2012). "EXCLUSIVE: Here's The Email Zuckerberg Sent To Cut His Cofounder Out Of Facebook". Business Insider. Business Insider Inc. Retrieved 9 February 2016.
  28. ^ "EXCLUSIVE: How Mark Zuckerberg booted his co-founder out of the company". Retrieved 22 November 2018.
  29. ^ https://gawker.com/5143256/facebook-founders-settle-their-feud
  30. ^ Carvalho dos Santos, Alexandre; Marcelo Rainho (October 2009). "A misteriosa história do brasileiro que fundou o Facebook" ["The mysterious story of the Brazilian who founded Facebook."]. Superinteressante (in Portuguese). São Paulo: Editora Abril (270): 94–97. ISSN 0104-1789. OCLC 60743498.
  31. ^ "Eduardo Saverin - CrunchBase". CrunchBase. Retrieved 26 May 2016.
  32. ^ Russell, Jon (19 May 2016). "Facebook co-founder Eduardo Saverin's new fund closes initial $140 Million for deals in Asia". TechCrunch. Retrieved 23 May 2016.
  33. ^ Chia, Stacey (20 June 2015). "Eduardo Saverin's fiancee studied at Raffles Girls' School, Indonesian family runs several businesses". AsiaOne. Singapore Press Holdings Ltd. Retrieved 30 July 2015.
  34. ^ Iyengar, Rishi (26 July 2015). "Facebook Co-Founder Eduardo Saverin Confirms News of Wedding in Facebook Post". TIME. Time Inc. Retrieved 9 February 2016.
  35. ^ Karmali, Naazneen (25 June 2015). "Secret Wedding Celebration Of Facebook Co-Founder Eduardo Saverin Kicks Off". Forbes. Retrieved 30 July 2015.

Further reading[edit]

External links[edit]



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