Eduardo Saverin (2024)

FAQs

Did Zuckerberg really dilute Eduardo's shares? ›

The shares were divided so Zuckerberg had 65%, Saverin had 30%, and Moskovitz had 5%. In order to reduce Saverin's shares, Zuckerberg created a new company under Delaware Law to acquire the old company (The Florida LLC). This reduced Saverin's share to around 24%.

Zuckerberg's plan plays out

Saverin's 24 percent was a drop from 30 percent, and when Zuckerberg required Facebook to provide 9 million common stock shares, Saverin was cut out completely. The new issuance diluted Saverin's share to below 10 percent from 24.

Eduardo Saverin was Zuckerberg's best friend, Facebook's first investor, and the original business manager and CFO when Facebook first launched in Zuckerberg's Harvard dorm room.

Facebook is worth $350B, so $100M is only 0.03% equity.

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.

Currently, Saverin owns a 2% (worth roughly $9 billion) stake in Facebook. However, Saverin hasn't worked for Facebook since 2005 — the year Zuckerberg diluted Saverin's stake in Facebook. Mark contended that Eduardo didn't complete any tasks he was supposed to for thefacebook.com.

Saverin eventually sued Facebook over breach of fiduciary duty. Facebook and Saverin settled, and he walked away with 4% or 5% of the company. That stake is now worth close to $5 billion.

The lawsuit eventually resulted in the twins winning a $65 million settlement. It's also well known that the friendship ended in a lawsuit between Mark Zuckerberg and Facebook co-founder Eduardo Saverin.

13.4 billion USD (2023)

Eduardo Saverin / Net worth

Saverin's stake was ultimately reduced not because he gave up his shares but because his ownership was diluted when new shares were issued.

Does Sean Parker still own a percentage of Facebook? ›

Sean Parker

Parker owns 4% of the total Facebook shares which might seem like a small piece but in terms of gains, it translates into $4 billion.

First, Zuckerberg wanted to cut out Eduardo because according to Mark, Saverin was failing at his job; running unauthorized ads, and the big one being when Saverin was hesitant to sign Facebook's company reformation, which was a crucial step in getting investors like Peter Thiel to make some funding deals.

Shareholders' equity, one of the last lines on a balance sheet, reveals a company's net worth after assets and liabilities are taken into account. Facebook's net worth as of Q4 2021 is $124.879 billion.

The scene: Zuckerberg confronts Eduardo Saverin, co-founder and onetime C.F.O. of Facebook, about animal-cruelty charges stemming from his Phoenix-club hazing process. Saverin, forced to carry around a live chicken for a week, has been accused of animal cruelty. Zuckerberg is seen reading from the Crimson.

On average, Wall Street analysts predict that Facebook's share price could reach $268.38 by Apr 27, 2024. The average Facebook stock price prediction forecasts a potential upside of 12.5% from the current META share price of $238.56.

Until yesterday, the details of the outcome had been kept secret. Lawyers on both sides went as far as asking the judge to clear the courtroom of reporters. But the law firm Quinn Emanuel Urquhart Oliver & Hedges then trumpeted "WON $65 million settlement against Facebook" in its newsletter.

He was happily in a relationship with his girlfriend at the time, and there was no real-life version of Erica Albright (Rooney Mara, “A Ghost Story”) nor any crude reference to her below-average cup size, or so the real Zuckerberg says.

The movie isn't terribly accurate (and Sorkin won't argue)

Given that The Social Network isn't just based on a true story but on a relatively recent true story, it's not surprising that a lot of people were combing through the film to assess the accuracy.

The Winklevii and Narendra alleged that Zuckerberg stole their idea to create Facebook. They sued in 2004, and after a legal battle that lasted four years, eventually settled with the Meta CEO for $65 million in mediation.

1.5 billion USD (2023)

Tyler Winklevoss / Net worth

How much is Eduardo Saverin worth now? ›

13.4 billion USD (2023)

Eduardo Saverin / Net worth

Meta lost almost two-thirds of its value last year as metaverse costs soared and the company's core online ad business suffered from a struggling economy, increased competition from TikTok and Apple's privacy update, limiting ad targeting.

The “dirty tricks” Zuckerberg intended to pull in his plan: Reduce Saverin's shareholding in TheFacebook.com by forming a new Delaware corporation to purchase the old company, distributing new shares in the new company to everyone except Saverin.

Now a venture capitalist, he still derives most of his wealth from his small but valuable stake in Facebook. In 2016, he launched venture fund B Capital, with BCG and Bain Capital veteran Raj Ganguly. The fund has $6.5 billion in assets under management.

Net Worth Summary

He owns about 2% of the company, according to its 2022 proxy statement. The world's largest social network has about 3.7 billion active users each month including about 3 billion on Facebook, according to a February 2023 company presentation.

He is the Founder and Chairman of his philanthropic firm, the Parker Foundation.

Mark Zuckerberg Latest Holdings Summary

Mark Zuckerberg currently owns a total of 1 stock. Mark Zuckerberg owns 831,706 shares of Meta Platforms Inc (META) as of November 8, 2021, with a value of $200 Million.

Mark Zuckerberg is the founder, chairman and CEO of Meta, which he originally founded as Facebook in 2004. Mark is responsible for setting the overall direction and product strategy for the company. He leads the design of Meta's services and development of its core technology and infrastructure.

📃 Who Owns Meta (Facebook)? Meta (Facebook) is owned by its shareholders. The largest one is its founder and CEO, Mark Zuckerberg, who owns 13.4% of the company. Other large shareholders are asset managers Vanguard with 6.9% share, BlackRock with 5.8% share, and Fidelity with 4.7% share.

Lemkin explains: Zuckerberg was able to retain ownership of a large portion of the company by skipping a venture capital round. "Because it's less how much you raise that creates dilution--it's how many times you raise," Lemkin wrote.

Who own most shares of Meta? ›

#1 Mark Zuckerberg – 29.3% – US $54.3 billion (March 2020)

Here's another little interesting fact about Facebook.

Mark Zuckerberg, who is the founder, chairman and chief executive officer of the Facebook, Instagram and WhatsApp parent, owns 350,577,496 Meta shares, according to the company's 2022 proxy statement released earlier this month.

Relationship Interpretation

Some like to interpret that Eduardo knowingly was in love with Mark all along, since he plays the emotion to Mark's logic, and the impact of the hurt he expresses throughout the depositions is a message of sorts for how much Eduardo had loved him.

Eduardo Saverin

Thoughts on The Social Network: In a 2010 op-ed for CNBC, Saverin wrote “the movie was clearly intended to be entertainment and not a fact-based documentary.” In 2012, he hammered home the same point in an interview with Brazilian magazine Veja: "That's Hollywood fantasy, not a documentary."

The programming prodigy created what would become Facebook from his dorm room in 2004, initially as a networking site for fellow students. He quit the Ivy League college in his second year to focus on the company, which made him the world's youngest self-made billionaire three years later.

On average, 1 million views pays about $1,000, Shaba said. Sometimes, a video with about 1 million views can earn upward of $1,500 depending on the CPM rate, or cost per thousand views, Nonny added. (Insider verified these earnings with screenshots of their Facebook creator studio.)

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Eduardo was in the Montana backcountry, when he was struck by 2,400 volts of electricity when he poked a bear with his knife. The bear was dead laying on an electrical line.

Is PETA against animal abuse? ›

PETA operates under the simple principle that animals are not ours to experiment on, eat, wear, use for entertainment, or abuse in any other way. PETA informs policymakers and the public about animal abuse and promotes kind treatment of animals.

Woman Banned From Owning Animals After Offering Monkey Cocaine. A 39 year old mother of four, Vicki Holland owned a pet monkey, but treated it like garbage. Milly the monkey went through hell with Vicki, because Vicki would offer her cocaine, feed the monkey kebabs, and even tried flushing her down the toilet.

Of 44 analysts covering Facebook in February, 17 rate the stock a “strong buy” and 24 rate it a “buy,” according to Yahoo Finance. That's down from January 2021, when 18 rated it a “strong buy” and 30 rated it a “buy,” but analysts see Facebook's current troubles as temporary.

Facebook stock price stood at $243.18

According to the latest long-term forecast, Facebook price will hit $350 by the end of 2023 and then $500 by the end of 2024. Facebook will rise to $700 within the year of 2025, $900 in 2026, $1000 in 2027, $1100 in 2028, $1200 in 2030, $1300 in 2032 and $1400 in 2033.

Long-term projections have Meta at $272 by the end of 2022 and $360 by the end of 2023. Meta stock will hit $470 in 2025, $580 in 2027, and $765 in 2030, with further gains expected thereafter.

He took 3.3. million shares for himself and gave 2 million to Sean Parker and 2 million to Dustin Moskovitz. This share issuance instantly diluted Saverin's stake in the company from ~24% to below 10%. Mark's plan had succeeded.

First, Zuckerberg wanted to cut out Eduardo because according to Mark, Saverin was failing at his job; running unauthorized ads, and the big one being when Saverin was hesitant to sign Facebook's company reformation, which was a crucial step in getting investors like Peter Thiel to make some funding deals.

His falling out with and subsequent lawsuit against Zuckerberg was made infamous by the movie The Social Network. Since then, Saverin has sold more than half of his Facebook stake and has used some of that money to invest in promising startups.

Facebook parent Meta's stock plummets after dismal earnings report : NPR. Facebook parent Meta's stock plummets after dismal earnings report The company, which also owns Instagram and WhatsApp, has lost a half-trillion dollars in market value so far this year.

The lawsuit eventually resulted in the twins winning a $65 million settlement. It's also well known that the friendship ended in a lawsuit between Mark Zuckerberg and Facebook co-founder Eduardo Saverin.

Was Facebook IPO overvalued? ›

This price valued the company at $104 billion, the largest valuation to date for a newly public company. On May 16, two days before the IPO, Facebook announced that it would sell 25% more shares than originally planned due to high demand. This meant the stock would debut with 421 million shares.

Eduardo Saverin was one of the co-founders of Facebook but lost his share through legal wrangling with Zuckerberg. He was also a co-founder at Ape Corp which became Napster and Plaxo (which was eventually bought by Comcast).

Net Worth Summary

The majority of Saverin's fortune is derived from his stake in Meta Platforms, formerly Facebook. He owns about 2% of the company, according to its 2022 proxy statement.

Mark Zuckerberg's fortune plunged by $11 billion after his Meta Platforms Inc. reported a second-straight quarter of disappointing earnings, bringing his total wealth loss to more than $100 billion in just 13 months.

Meta lost $13.7 billion on Reality Labs in 2022 after metaverse pivot.