Eduardo 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]

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

19 March 1982 (age 37)
São Paulo, Brazil
ResidenceSingapore
CitizenshipBrazil[1][2]
United States (1998–2011)
Alma materHarvard University (BA)
Known forCo-founder of Facebook
Net worthUS$10.1 billion[3] (April 2019)
Spouse(s)Elaine Andriejanssen (m. 2015)
Websitewww.facebook.com/saverin

Early life and education

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, son of a Romanian-Jewish immigrant[19], was a businessman working in clothing, shipping, and real estate.[20] His mother, Sandra, was a psychologist. He has two siblings.[21] His Romanian-born grandfather, Eugenio Saverin (born Eugen Saverin), is the founder of Tip Top, a chain of children's clothing shops.[21] In 1993, the family immigrated to the U.S., settling in Miami.[22]

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.[20][23][24] In 2006, Saverin graduated magna cum laude from Harvard University with a bachelor's degree in economics.[25] He is a member of the Alpha Epsilon Pi fraternity (Eta Psi chapter of Harvard University).[26]

Career

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.[27] 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.[28] 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.[29] 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.[30][31]

In 2010, Saverin co-founded Aporta, an online portal for charity.[22][32]

In 2016, Saverin's fund closed initial deals of over $140 million in Asia, including $30 million in regional logistics startup Ninja Van.[33]

Personal life

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.[34] On March 27, 2014, they got engaged and were married on June 25, 2015, in the French Riviera.[35][36] Saverin struck a deal with Ben Mezrich to write The Accidental Billionaires: A Story of Sex, Money, Genius and Betrayal about the founding of Facebook. Saverin severed his ties to Mezrich after the Facebook settlement.

Saverin is played by Andrew Garfield in the film The Social Network.

References

  1. ^ Kucera, Danielle; Harper, Christine; Drucker, Jesse (May 12, 2015). "Facebook Co-Founder May Gain Choosing Singapore Over the U.S." Bloomberg. Retrieved May 14, 2015. Saverin still does hold Brazilian citizenship, Goodman said.
  2. ^ "Saverin 'has no plans to become S'pore citizen'" (PDF). Today. May 17, 2012. Archived from the original (PDF) on May 26, 2013. Retrieved May 17, 2012.
  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 (May 11, 2012). "Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO". Bloomberg L.P. Retrieved May 11, 2012.
  6. ^ a b c Mezrich, Ben. The Accidental Billionaires. Doubleday. ISBN 978-0-385-52937-2.
  7. ^ Eduardo Saverin (May 17, 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 February 9, 2018.
  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 (May 23, 2012). "In Praise Of Eduardo Saverin's Tax Avoidance". Forbes. Retrieved February 9, 2016.
  13. ^ "So How Much Did He Really Save?". Wall Street Journal. May 18, 2012. Retrieved February 9, 2016.
  14. ^ McCormick, Jason (July 11, 2012). "5 citizens who left the United States to avoid paying tax". CBS News. Retrieved June 17, 2014.
  15. ^ Worstall, Tim (May 12, 2012). "IPO Will Increase, Not Reduce, His Tax Bill". Forbes. Retrieved May 12, 2012.
  16. ^ David Benoit (May 17, 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 May 23, 2016.
  19. ^ "Fábio Altman: Eduardo Saverin, o brasileiro do Facebook, conta sua história" (in Portuguese). May 25, 2012.
  20. ^ 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.
  21. ^ a b Antunes, Anderson (May 27, 2012). "Eduardo Saverin Finally Opens Up: 'No Hard Feelings Between Me And Mark Zuckerberg". Forbes. Retrieved May 26, 2016.
  22. ^ 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. May 26, 2012. Retrieved May 23, 2016.
  23. ^ The Truth Behind Facebook's Founding is Finally Revealed
  24. ^ "A Facebook Tale: Founder Unfriends Pals on Way Up", NPR
  25. ^ "Facebook Founders Bios". Facebook.
  26. ^ "Eduardo Saverin: 10 Things To Know About The Facebook Co-Founder". International Business Times. May 4, 2012. Retrieved March 28, 2017.
  27. ^ Hoffman, Claire (September 15, 2010). "The Battle For Facebook". Rolling Stone. Wenner Media. Retrieved July 4, 2017.
  28. ^ Carlson, Nicholas (May 15, 2012). "EXCLUSIVE: Here's The Email Zuckerberg Sent To Cut His Cofounder Out Of Facebook". Business Insider. Business Insider Inc. Retrieved February 9, 2016.
  29. ^ "EXCLUSIVE: How Mark Zuckerberg booted his co-founder out of the company". Retrieved November 22, 2018.
  30. ^ https://gawker.com/5143256/facebook-founders-settle-their-feud
  31. ^ 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.
  32. ^ "Eduardo Saverin - CrunchBase". CrunchBase. Retrieved May 26, 2016.
  33. ^ Russell, Jon (May 19, 2016). "Facebook co-founder Eduardo Saverin's new fund closes initial $140 Million for deals in Asia". TechCrunch. Retrieved May 23, 2016.
  34. ^ Chia, Stacey (June 20, 2015). "Eduardo Saverin's fiancee studied at Raffles Girls' School, Indonesian family runs several businesses". AsiaOne. Singapore Press Holdings Ltd. Retrieved July 30, 2015.
  35. ^ Iyengar, Rishi (July 26, 2015). "Facebook Co-Founder Eduardo Saverin Confirms News of Wedding in Facebook Post". TIME. Time Inc. Retrieved February 9, 2016.
  36. ^ Karmali, Naazneen (June 25, 2015). "Secret Wedding Celebration Of Facebook Co-Founder Eduardo Saverin Kicks Off". Forbes. Retrieved July 30, 2015.

Further reading

External links

Alexander Muse

Alexander Muse is an American internet entrepreneur who has founded several internet companies including LayerOne, ShopSavvy, Architel, and ViewMarket (among others). His most recent endeavor, Sumo Ventures, invests in early-stage startups.

Andrew Garfield

Andrew Russell Garfield (born August 20, 1983) is a British-American actor. He is the recipient of several accolades, including a Tony Award, and has been nominated for an Academy Award, two Golden Globe Awards and two competitive British Academy Film Awards.

Born in Los Angeles and raised in Epsom, England, Garfield began his career on the UK stage and in television productions. He made his feature-film debut in the 2007 ensemble drama Lions for Lambs. Also that year, his performance in the television film Boy A earned him a British Academy Television Award for Best Actor. He came to international attention in 2010 with supporting roles in the drama The Social Network, for which he received Golden Globe and BAFTA nominations for his portrayal of Eduardo Saverin, and the science fiction romance Never Let Me Go. Garfield subsequently gained wider recognition for playing the titular superhero in the 2012 superhero film The Amazing Spider-Man and its 2014 sequel. In 2016, Garfield starred in two critically acclaimed historical dramas, Hacksaw Ridge and Silence. His portrayal of Desmond T. Doss in the former earned him nominations for the Academy Award, Golden Globe and BAFTA Award for Best Actor.

On stage, Garfield has played Biff in a 2012 Broadway revival of Arthur Miller's play Death of a Salesman, which earned him a Tony Award nomination for Best Featured Actor in a Play. In 2017, he starred as Prior Walter in a production of Angels in America at the Royal National Theatre in London, a role for which he was nominated for an Olivier Award for Best Actor. He reprised the role on Broadway in 2018, for which he received the Tony Award for Best Actor in a Play.

Andrew McCollum

Andrew McCollum (born September 4, 1983) is a co-founder of Facebook and an angel investor.

Chris Hughes

Christopher Hughes (born (1983-11-26)November 26, 1983) is an American entrepreneur who co-founded and served as spokesman for the online social directory and networking site Facebook, with Harvard roommates Mark Zuckerberg, Dustin Moskovitz, Eduardo Saverin, and Andrew McCollum. He was the publisher and editor-in-chief of The New Republic from 2012 to 2016. Hughes is now a co-chair of the Economic Security Project. In 2018, Hughes published Fair Shot: Rethinking Inequality and How We Earn.

College Media Network

College Media Network [CMN], formerly known as Y2M: Youth Media and Marketing, is a digital news media company. The company's technology enables over 600 college newspapers to publish their news to over two million online subscribers and serves a monthly audience of more than five million unique visitors.CMN is based upon an SAS content management system named College Publisher, which was originally developed by Kai Pradel, Karstan Robbins and Jon Block to publish their online student newspaper, Emerson’s Berkeley Beacon. College Publisher, was the first content management solution designed specifically for the needs of the campus newsroom and became the national standard following its acquisition of New Digital Group in 2005.

College Publisher was acquired by Members Connect Inc in 2000 which marked the beginning of its growth by respected student newspapers such Syracuse’s Daily Orange, Ohio State’s The Lantern and University of Connecticut’s Daily Campus adopt a networked approach to publishing digital college content. In 2001, College Publisher became an early online advertising network and named Y2M: Youth Media and Marketing network. Y2M was led by Craig Carroll, John T. Fees, and CTO Marc Stein, and this period introduced major technology advances and national online advertisers including Ford, Samsung, Monster, and Apple to online college media. College Publisher acquired New Digital Group, bringing an additional 230 college publications into the Y2M network including the University of Georgia’s The Red and Black, The Michigan Daily, and The Daily Pennsylvanian.

Y2M was instrumental to generating income for The Facebook from June 2004 to June 2006. In June 2004, Y2M executed an agreement negotiated by Mark Zuckerberg and Eduardo Saverin to become the exclusive independent sales organization for The Facebook. The agreement was amended in March 2005 by Sean Parker and Mark Zuckerberg to allow The Facebook to hire Y2M's head of advertising sales, Tricia Black.

mtvU acquires the company.

David Wehner

David M. Wehner is the Chief Financial Officer (CFO) of Facebook.

Dustin Moskovitz

Dustin Aaron Moskovitz (; born May 22, 1984) is an American Internet entrepreneur who co-founded Facebook with Mark Zuckerberg, Eduardo Saverin, Andrew McCollum and Chris Hughes. In 2008, he left Facebook to co-found Asana with Justin Rosenstein. In March 2011, Forbes reported Moskovitz to be the youngest self-made billionaire in history, on the basis of his 2.34% share in Facebook.

Facebook Dating

Facebook Dating is a digital dating product in development at Facebook.

Facebook Slingshot

Facebook Slingshot was an instant messaging software application for sharing photos and videos with friends, designed by Facebook. The app was launched on June 18, 2014 for Android and iOS devices. The app was discontinued and removed from the app store and Google Play store in December 2015, after Facebook shut down its "Creative Labs" division.

Fan-gating

Fan-gating (also known as "Like-gating") is the practice of acquiring more fans for a Facebook page by requiring Facebook users to "like" the page in order to access specific content associated with the page. This content is typically exclusive features, promotional offers, games or other material.On August 8, 2014, Facebook updated their platform policies to forbid businesses and developers from using like-gating on new apps, while existing apps will need to comply by November 5, 2014.

History of Facebook

Facebook is a social networking service launched as FaceMash in July 2003, but later changing to TheFacebook on February 4, 2004. It was founded by Mark Zuckerberg with his college roommate and fellow Harvard University student Eduardo Saverin. The website's membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and gradually most universities in the United States and Canada, corporations, and by September 2006, to everyone with a valid email address along with an age requirement of being 13 and older.

Hopscotch (company)

Hopscotch is an ecommerce company founded in 2011 by Rahul Anand, a graduate of Harvard Business School and the University of Michigan. Hopscotch, headquartered in Mumbai, India, is a curated store featuring a variety of international and local branded merchandise for kids, mom and home. Founder Rahul Anand previously worked at Diapers.com, one of the largest baby ecommerce sites in the U.S.

List of Brazilian entrepreneurs

This is a list of Brazilian entrepreneurs, businesspeople of Brazilian nationality or with Brazilian citizenship.

Abílio Diniz

Alexandra Gama

Aloysio de Andrade Faria

Andre Medici

Antônio Ermírio de Moraes

Ara Vartanian

Armínio Fraga

Assis Chateaubriand

Bob Falkenburg

Carlos Ghosn

Edmond Safra

Eduardo Saverin

Eike Batista

Count Francesco Matarazzo

Germán Efromovich

Gustavo Franco

Henrique Meirelles

Hugo Barra

João Carlos di Genio

Jorge Paulo Lemann

José Alencar

Julio Bozano

Mike Krieger

Norberto Odebrecht

Pedro Moreira Salles

Ricardo Semler

Roberto Marinho

Samuel Klein

Victor Civita

Walter Moreira Salles

List of Brazilians by net worth

The following is a Forbes list of Brazilian billionaires based on an annual assessment of wealth and assets compiled and published by Forbes magazine in February 2017.

Qwiki

Qwiki was a New York City based startup automated video production company. Qwiki released an iPhone app that automatically turns the pictures and videos from a user's camera roll into movies to share. The company's initial product, an iPad application that created video summaries of over 3 million search terms, was downloaded more than 3 million times and named by Apple as the best "Search and Reference" application of 2011.

After integrating this technology in the Bing search engine and launching video creation tools for major publishers in cooperation with ABC News, the company launched Qwiki for iPhone, which received Apple's Editor's Choice and was mentioned as an Honoree in the 2013 Webby's in two categories. Time Inc. named Qwiki one of “10 NYC Startups to Watch” for 2013. The company's investors include cofounders of Facebook, YouTube and Groupon. The co-founders of Qwiki Inc. are Louis Monier (founder of the AltaVista search engine) and Doug Imbruce.

Qwiki was acquired by Yahoo! on July 2, 2013 for a reported $50 million.

ShopSavvy

ShopSavvy is a mobile application for shopping that scans products and finds online and local stores providing those products. Additionally, ShopSavvy compares the prices, displays user reviews, and searches for deals and discounts on scanned items.

The app was developed by Rylan Barnes, Jason Hudgins and Alexander Muse, who won the “Google’s Android Developer Challenge" and subsequently founded ShopSavvy, Inc.By 2012, the app had approximately 20 million downloads and over 10 million users since its launch. Today ShopSavvy is the world's most popular shopping application with more than 100M downloads of the technology, with over 50 million product scans a month.ShopSavvy is a cross-platform application. It is currently available for Android, iOS, Symbian, and Windows Phone devices.

Tech in Asia

Tech in Asia is a Singapore-based technology website and media and events company. It has hosted annual conferences across the continent primarily in Singapore, Tokyo and Jakarta since 2012. It was backed by Facebook co-founder Eduardo Saverin in 2015.

The Accidental Billionaires

The Accidental Billionaires: The Founding of Facebook, a Tale of Sex, Money, Genius, and Betrayal is a 2009 book by Ben Mezrich about the founding of Facebook, adapted by Columbia Pictures for the 2010 film The Social Network. Co-founder Eduardo Saverin served as Mezrich's main consultant, although Mark Zuckerberg declined to speak with him while the book was being researched. After Zuckerberg and Saverin settled their lawsuit, Saverin broke off contact with the author.

The Social Network

The Social Network is a 2010 American biographical drama film directed by David Fincher and written by Aaron Sorkin. Adapted from Ben Mezrich's 2009 book The Accidental Billionaires: The Founding of Facebook, a Tale of Sex, Money, Genius and Betrayal, the film portrays the founding of social networking website Facebook and the resulting lawsuits. It stars Jesse Eisenberg as founder Mark Zuckerberg, along with Andrew Garfield as Eduardo Saverin, Justin Timberlake as Sean Parker, and Armie Hammer as Cameron and Tyler Winklevoss. Neither Zuckerberg nor any other Facebook staff were involved with the project, although Saverin was a consultant for Mezrich's book. The film was released in the United States by Columbia Pictures on October 1, 2010.

The Social Network garnered considerable acclaim, with critics praising its direction, screenplay, acting, editing and score. The film appeared on 78 critics' Top 10 lists for 2010; of those, 22 had the film in their number-one spot, the most of any film in its year. The film was also chosen by the National Board of Review as the best film of 2010.

At the 83rd Academy Awards, the film received eight nominations, including for Best Picture, Best Director, and Best Actor for Eisenberg, and won three: Best Adapted Screenplay, Best Original Score, and Best Film Editing. The film also received awards for Best Motion Picture – Drama, Best Director, Best Screenplay, and Best Original Score at the 68th Golden Globe Awards. In 2016, it was voted 27th among 100 films considered the best of the 21st century by 117 film critics from around the world.

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