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|
|Height||1.77m (5’ 9’’)|
|Place of Birth||São Paulo, Brazil|
|Source of Wealth||Facebook stake, B Capital, and investments|
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.
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.
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.
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.
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.
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.
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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