Eduardo Saverin, born on March 19, 1982, in São Paulo, Brazil, is a prominent entrepreneur and angel investor, best known as one of the co-founders of Facebook. With a remarkable journey from a college student to a billionaire, Saverin’s net worth has seen significant growth over the years, particularly due to his stake in Meta Platforms, the parent company of Facebook. As of early August 2024, his estimated net worth stands at an impressive $26.3 billion, making him the richest Brazilian and the 69th richest person in the world.
Saverin’s early life was marked by privilege, as he was born into a wealthy Jewish-Brazilian family. His father, Roberto Saverin, was a businessman involved in various industries, while his mother, Sandra, was a psychologist. In 1993, the family immigrated to the United States, settling in Miami, Florida. Eduardo attended Gulliver Preparatory School and later enrolled at Harvard University, where he graduated magna cum laude with a Bachelor of Arts in economics in 2006.
During his time at Harvard, Saverin met Mark Zuckerberg, and together they launched Facebook in 2004. Saverin played a crucial role as the chief financial officer and business manager of the platform. However, their partnership faced challenges, leading to a legal dispute that culminated in a settlement in 2009. Despite the fallout, Saverin’s stake in Facebook remained valuable, and he continued to benefit from the company’s growth.
Rise to Wealth
Eduardo Saverin’s wealth primarily stems from his early investment in Facebook. Initially, he invested $1,000 to help launch the platform, followed by an additional $18,000. By 2012, he owned approximately 53 million shares, which were valued at around $2 billion at the time. As Facebook’s value skyrocketed, so did Saverin’s net worth. His decision to renounce his U.S. citizenship in 2011, just before Facebook’s IPO, allowed him to avoid an estimated $700 million in capital gains taxes, a move that sparked controversy but ultimately solidified his financial standing.
In addition to his Facebook shares, Saverin has diversified his investments through his venture capital firm, B Capital, which he co-founded in 2015. The firm focuses on investing in technology startups in Southeast Asia and India, and it has successfully raised significant capital to support early-stage companies. Saverin’s investment portfolio includes notable companies such as Jumio, Qwiki, and Ninja Van, further contributing to his wealth.
Life in Singapore
After renouncing his U.S. citizenship, Saverin relocated to Singapore, where he has established himself as a prominent figure in the business community. He married Elaine Andriejanssen, an Indonesian national, in 2015. The couple met while studying in Massachusetts and has since welcomed one child. Saverin’s life in Singapore has been marked by luxury, as he has acquired several high-end properties, including a record-breaking bungalow on Nassim Road that sold for $170 million in 2019.
In 2023, Saverin made headlines by purchasing two chalets in the French ski resort of Courchevel for $95 million. These luxurious properties, linked by basements, total over 32,000 square feet, showcasing his penchant for opulence and investment in real estate.
Current Ventures and Investments
Eduardo Saverin continues to be an influential figure in the venture capital landscape. His firm, B Capital, has made significant strides in the investment world, closing initial deals worth over $140 million in Asia. The firm focuses on technology-driven startups, reflecting Saverin’s commitment to fostering innovation in the region. Additionally, he has invested in Antler, an early-stage venture capital fund and startup accelerator, further diversifying his investment portfolio.
Despite his wealth and success, Saverin remains grounded and reflects on his journey with gratitude. He acknowledges the role he played in Facebook’s evolution and expresses pride in the impact the platform has had on global communication and connectivity.
Conclusion
Eduardo Saverin’s journey from a college student to a billionaire entrepreneur is a testament to his vision, determination, and strategic investments. With a net worth of $26.3 billion as of 2024, he stands as a prominent figure in the business world, particularly in Singapore, where he is recognized as the richest person in the country. His continued involvement in venture capital and technology investments showcases his commitment to innovation and entrepreneurship.
FAQs
What is Eduardo Saverin’s net worth as of 2024?
As of early August 2024, Eduardo Saverin’s estimated net worth is $26.3 billion.
What role did Eduardo Saverin play in Facebook’s founding?
Eduardo Saverin was a co-founder of Facebook and served as the chief financial officer and business manager during its early years.
Why did Eduardo Saverin renounce his U.S. citizenship?
Saverin renounced his U.S. citizenship in 2011, reportedly to avoid capital gains taxes associated with Facebook’s IPO, although he stated that he wanted to live and work in Singapore.
What is B Capital, and what does it focus on?
B Capital is a venture capital firm co-founded by Eduardo Saverin that focuses on investing in technology startups in Southeast Asia and India.
Where does Eduardo Saverin currently reside?
Eduardo Saverin resides in Singapore, where he has established himself as a prominent businessman and investor.