Saverin is one of Facebook’s co-founders. He had 53 million Facebook shares in 2012, or around 2% of all outstanding shares.
During his junior year at Harvard, Saverin met Mark Zuckerberg. The Winklevoss twins had recently engaged Mark to establish The Harvard Connection, an early social network. Instead, Mark opted to create an online version of a physical book that was delivered to all freshmen at institutions and featured a photo alongside some basic biographical information. The title of this book was “The Face Book.”
Mark approached Eduardo with his idea for TheFacebook.com in late 2003. Eduardo helped Mark get the money he needed to buy servers and get the website up and operating. In February 2004, TheFacebook.com was launched. Saverin served as chief financial officer and business manager as a co-founder. Along with Mark Zuckerberg, Dustin Moskovitz, and Chris Hughes, Saverin is one of four co-founders of Facebook.com.
Eduardo relocated to New York City for an internship at Lehman Brothers that summer, while Mark relocated to Palo Alto to work on what would eventually become “Facebook.com.”
Saverin abandoned his American citizenship in September 2011. He was able to save an estimated $700 million in capital gains taxes as a result. He has been in Singapore since 2009 and has indicated that he abandoned his American citizenship in order to live and work there. He refuted claims that he departed the United States to avoid paying taxes.
Saverin and Elaine Andriejanssen met in college in Massachusetts. In the spring of 2014, they got engaged and celebrated with a grandiose engagement party in Bali that included a performance by John Legend.
The pair married on the French Riviera on June 25, 2015. She is a Chinese Indonesian woman who attended Raffles Girls’ School in Singapore and Tufts University. She worked for Franklin Templeton Investments as a quantitative research analyst. Her family owns and operates a number of enterprises in Indonesia.
Andrew Garfield portrays Saverin in the film The Social Network, which depicts the years leading up to the formation of Facebook.
Eduardo Saverin and Mark Zuckerberg, a Harvard classmate, started Facebook in 2004.He’s now a venture investor, but his small but lucrative ownership in Facebook is still the source of the majority of his money. In 2016, he co-founded B Capital with Raj Ganguly, a BCG and Bain Capital veteran.
Saverin co-founded Aporta, an online charity platform, in 2010. In 2015, Saverin created B Funding, a venture capital firm focused on Southeast Asia and India. In 2016, Saverin’s fund made over $140 million in early Asian investments, including Ninja Van, a Singaporean transportation company.
Saverin and his partner, Raj Ganguly, have been working on deploying their first $360 million technology fund (of which Saverin fronted an undisclosed portion), driven by a twist on the usual firm-building approach, since creating B Capital in 2015. Most venture capital firms begin small, with a couple of investments in local businesses. B Capital, on the other hand, started with a worldwide approach and has 30 employees in California (San Francisco and Los Angeles), New York, and Singapore.
Eduardo began to feel left out and angry of Mark’s business decisions at some point. He froze Facebook’s bank account in protest. As a sort of vengeance, and to limit his influence over how Facebook is funded, Zuckerberg used a devious type of corporate sabotage.
At the time, Facebook was set to accept a $500,000 investment from Peter Thiel in exchange for a 9% stake in the company. Before accepting the payments, Facebook needed to create a new Delaware-based LLC to purchase the prior Florida-based firm.
Eduardo went from owning 34 percent of their prior company to owning 24 percent of the new company when this transaction took place. Eduardo agreed to hand over his rights to Facebook’s intellectual property as well as his 3 million former “founder’s shares” in a contract. Except for Eduardo, all of the founders received 9 million brand new shares as a result of this transaction. Saverin’s stake was reduced to less than 10% as a result of this.
Eduardo was obviously enraged when he discovered out and promptly filed a lawsuit. Facebook countersued, claiming that Saverin’s stock purchase agreements from October 2005 were void. Saverin said that over the summer, Zuckerberg squandered Facebook’s (Saverin’s) money on personal expenses. Both lawsuits were settled out of court, and Eduardo’s interest in the company was later extended to a considerably larger one.