Eduardo Saverin: Facebook Co-founder, Start-up Investor, and Internet Entrepreneur

Eduardo Luiz Saverin, a Brazilian angel investor, economist, and Internet entrepreneur, is best known as one of the co-founders of Facebook, the social media giant. As of 2015, he owns roughly 0.4% of Facebook’s outstanding shares or approximately 53 million shares. He has an estimated net worth of US$7.2 billion.

Born in Sao Paulo, he was part of a wealthy Jewish family with his father being a rich industrialist involved in the shipping, real estate, and clothing industries while his mother was a psychologist. His grandfather, Eugenio, was the founder of a chain of kids’ wear retail shops known as Tip Top.

In 1993, his family emigrated from Rio de Janeiro to the United States where they settled in Miami, Florida. He attended the Gulliver Preparatory School and then Harvard University where he attained distinction as Harvard Investment Association’s president, a Phoenix S.K. Club member, and an Alpha Epsilon Pi fraternity member. He graduated with a bachelor’s degree in economics, magna cum laude, from Harvard University.

While at Harvard University, he worked with Mark Zuckerberg on the launch of The Facebook in 2004; the two noted the absence of a social networking website dedicated for Harvard University students. As Facebook’s co-founder, he was the business manager and chief financial officer of the social media titan.

But the two co-founders had their differences, too. Business Insider, for example, obtained an email containing the details of how Zuckerberg diluted Saverin’s stake in Facebook. The company also filed a lawsuit against Saverin and the latter retaliated with a countersuit; the lawsuits were settled out of court although the terms were not disclosed while Saverin signed a non-disclosure agreement. He retained the title as Facebook co-founder.

Since 2009, Saverin has lived in Singapore. In September 2011, he renounced his American citizenship.

He has also invested as an angel investor in several Internet ventures.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s