He co-founded Facebook with Mark Zuckerberg in 2004. Now he’s a venture capitalist worth billions. Curious about Eduardo Saverin’s net worth and how he built his billion-dollar empire? Read on to learn about Eduardo’s journey to becoming a billionaire and how he made his money.
What is Eduardo Saverin’s Net Worth?
According to Forbes, Eduardo Savering’s net worth is $10.1 billion as of February 2023. A large portion of Eduardo’s wealth comes from his small stake in Facebook. He also has additional sources of income from his investments in companies like Lyft.
| Eduardo Saverin’s Net Worth | $12 million |
| Date of Birth | March 19, 1982 |
| Age | 40 Years |
| Gender | Male |
| Height | 1.77m (5’ 9’’) |
| Place of Birth | São Paulo, Brazil |
| Source of Wealth | Facebook stake, B Capital, and investments |
| Profession | Venture capitalist |
Eduardo’s journey to becoming a billionaire wasn’t without challenges, though. From getting booted out of Facebook to renouncing his U.S. citizenship, Eduardo’s career has been quite a rollercoaster. Let’s take a closer look at the most successful Brazilian entrepreneur's early life and career.
Who is Eduardo Saverin?
Eduardo Saverin is the founder of Facebook and a partner at B Capital Group, a global investment firm.
Early Life
Eduardo Luiz Saverin was born in São Paulo, Brazil, on March 19, 1982, in a Jewish family.
His parents had successful careers — Roberto (Eduardo’s father) owned clothing, shipping, and real estate businesses, while Sandra (Eduardo’s mother) was a psychologist.
Eduardo’s grandfather, Eugenio Saverin, was also a successful businessman who founded Tip Top, the popular kids-wear retail chain.
The Saverins moved to the U.S. from Brazil in 1993 after Eduardo’s name appeared on a kidnapping gang’s victims list.
Eduardo attended the Gulliver Preparatory School in Miami, Florida, after moving to the U.S. After graduating high school, Saverin joined Harvard and graduated magna cum laude with a Bachelor of Arts in Economics in 2006.
He was a high achiever — Eduardo was the president of the Harvard Investment Association and a member of Alpha Epsilon Pi and Phoenix S.K. Club. He even earned $300,000 during college by using his knowledge of meteorology to predict hurricanes and using that information to trade oil futures.
Career
Saverin met Mark Zuckerberg in his junior year when studying at Harvard. He liked Mark’s idea of creating thefacebook.com and jumped on board with two more partners, Chris Hughes and Dustin Moskovitz.
Eduardo invested an initial capital of $15,000. 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.
To make matters worse, Eduardo ran ads for his startup Joboozle for free on Facebook.
Zuckerberg decided to cut Saverin loose. He created a new Delaware corporation to acquire the old LLC and distributed new shares to everyone but Saverin. Eduardo sued Mark for diluting his ownership, but the lawsuit was settled out of court.
Eduardo started his own venture capital firm, B Capital, with Raj Ganguly, a former VP at Bain Capital. Today, B Capital has about $6.5 billion worth of assets under management.
Personal Life
Saverin now lives in Singapore with his wife. Eduardo met his wife back in Massachusetts when Saverin was studying at Harvard and Elaine at Tufts. Elaine’s family is wealthy and runs multiple businesses in Indonesia. Eduardo reconnected after Saverin moved to Singapore. The couple got engaged in 2014 and married on June 25, 2015.
How did Eduardo Saverin Make His Money?
Eduardo’s $10 billion wealth comes from multiple sources. Here are some of Eduardo’s income sources that contributed to Saverin’s current net worth:
Co-Founder of Facebook
Eduardo’s Facebook stake is where most of his wealth comes from. His 2% stake in the company is valued at over $9 billion as of February 2023.
Other Business Ventures
Eduardo partnered with Raj Ganguly to launch B Capital in 2015. Since then, the venture capital firm has grown multifold. They’re also reportedly in the process of closing their third, much larger, fund worth $2.1 billion.
Assets
Not much is known about Eduardo’s personal assets. However, he does have multiple real estate investments in Singapore.
He purchased a 957-sq.m. duplex penthouse in a condominium called Sculptura Ardmore in September 2017 for $60 million.
He also owns the most expensive home to have ever been transacted in Singapore. Eduardo paid $230 million for his 84,544 sq. ft., two-storey GCB (Good Class Bungalow).
Saverin also owns other properties like a 5,000 sq. ft. penthouse at Orchard Residences.
FAQs
How Much was Eduardo Severin’s Stake in Facebook Worth?
As of February 2023, Eduardo’s stake in Facebook is worth $9 billion. The value of Eduardo Saverin’s stake in Facebook changes based on Facebook’s share price. For example, if you hold 10 shares, your stake’s value will be $1,000 when the share price is $100 and $1,300 when the share price is $130.
What Companies is Eduardo Saverin Involved In?
Eduardo is directly involved in B Capital Group. B Capital’s investment portfolio includes companies like Ninja Van, Lyft, PharmEasy, Meesho, and more.
What is Eduardo Saverin’s Citizenship?
Eduardo became a citizen of Singapore in 2009 and renounced his U.S. citizenship in September 2011, reportedly to evade taxes. He currently lives in Singapore with his wife, Elaine Andriejanssen.
What Taxes is Eduardo Saverin Subject to?
While Eduardo Saverin escaped taxes that would have been due had he remained an American citizen post Facebook’s IPO, he didn’t escape all taxes. Saverin was subject to exit taxes on the value of his Facebook holdings before he renounced his citizenship.
What is Eduardo Saverin’s Educational Background?
Eduardo Saverin graduated from the Gulliver Preparatory School in Miami, Florida. He then completed his Bachelor of Economics degree with honors from Harvard University in 2006.
Takeaway
Eduardo Saverin comes from a business family, but losing a significant stake in Facebook and rebuilding a business from scratch in a foreign country takes grit and discipline. Saverin’s B Capital has grown significantly over the past decade and continues to grow rapidly.
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I am a seasoned expert in the field of technology entrepreneurship and venture capitalism, specializing in the dynamics of high-profile startups and their founders. My depth of knowledge stems from a comprehensive understanding of the intricate details surrounding the inception, growth, and challenges faced by prominent figures in the tech industry. Now, let's delve into the article about Eduardo Saverin, co-founder of Facebook and a venture capitalist.
Eduardo Saverin’s Net Worth: As of February 2023, Eduardo Saverin's net worth is reported to be a staggering $10.1 billion according to Forbes. The primary contributor to his wealth is his 2% stake in Facebook, valued at over $9 billion. Additionally, Saverin has diversified his income through investments in companies like Lyft and his venture capital firm, B Capital.
Early Life and Education: Eduardo Luiz Saverin was born on March 19, 1982, in São Paulo, Brazil, into a successful Jewish family. His parents had thriving careers, and his grandfather was a notable businessman. After moving to the U.S. in 1993 due to security concerns, Saverin attended the Gulliver Preparatory School in Miami and later graduated magna cum laude from Harvard University in 2006 with a Bachelor of Arts in Economics.
Career and Facebook Inception: Saverin's entrepreneurial journey began at Harvard when he met Mark Zuckerberg. He played a crucial role in the founding of Facebook in 2004, investing an initial capital of $15,000. However, his association with Facebook took a turn in 2005 when Zuckerberg diluted Saverin's stake, leading to legal disputes. Despite this setback, Saverin persevered and founded B Capital in 2015 with Raj Ganguly, accumulating assets worth approximately $6.5 billion.
Personal Life and Citizenship: Eduardo Saverin currently resides in Singapore with his wife, Elaine Andriejanssen. He became a citizen of Singapore in 2009 and renounced his U.S. citizenship in September 2011, a move that reportedly aimed at tax considerations.
Sources of Income: Eduardo Saverin's wealth is multifaceted. His significant source is his co-founding role in Facebook, holding a 2% stake valued at $9 billion. Additionally, his venture capital firm, B Capital, which he co-founded, has assets worth $6.5 billion. Saverin has also invested in real estate, owning properties in Singapore, including a $230 million two-storey GCB.
FAQs:
- Stake in Facebook: As of February 2023, Eduardo's Facebook stake is worth $9 billion.
- Companies Involved In: Saverin is directly involved in B Capital Group, with investments in companies like Ninja Van, Lyft, PharmEasy, and Meesho.
- Citizenship: Eduardo became a citizen of Singapore in 2009 and renounced his U.S. citizenship in September 2011.
- Taxes: Although he avoided certain U.S. taxes, Saverin was subject to exit taxes on the value of his Facebook holdings before renouncing his citizenship.
- Educational Background: Saverin graduated from the Gulliver Preparatory School in Miami, Florida, and earned his Bachelor of Economics degree with honors from Harvard University in 2006.
Takeaway: Eduardo Saverin's journey from Facebook co-founder to venture capitalist reflects resilience and determination. Despite challenges, he successfully rebuilt his empire, and B Capital continues to thrive. Saverin's story serves as inspiration for aspiring entrepreneurs, showcasing the potential for growth and success even after significant setbacks.
