Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 146 Eduardo Saverin $10.3B

Random fact: Source for book that inspired the movie "The Social Network."

Overview

Saverin is a co-founder of Facebook, the world's largest social-networking company. He owns about 2% of the business, which has more than 2 billion monthly users and had revenue of $56 billion in 2018. The Menlo Park, California-based company's 2012 initial offering was the biggest-ever technology IPO at the time.

As of :
Last change -$65.7M ( -0.6%)
YTD change +$3.17B ( +44.3%)
Industry Technology
Biggest asset FB US Equity
Citizenship Brazil
Age 37
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Eduardo Saverin's net worth of $10.3B can buy ...

0
troy ounces of gold
0
barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Saverin's fortune is derived from his stake in Facebook, the world's largest social network, whose Facebook, Instagram, WhatsApp and Messenger platforms have about 2.7 billion monthly active users, according to a July 2019 company presentation. He owns about 2% of the company, according to its 2019 proxy.

One of Facebook's earliest shareholders, Saverin's stake was diluted by successive rounds of financing. After settling a lawsuit with the company over his ownership in 2009, Saverin held about 5% of the shares, according to David Kirkpatrick's book "The Facebook Effect." He agreed to sell some of his stock to Russian billionaire Alisher Usmanov's DST in 2010, according to an attachment to Facebook's 2012 initial public offering prospectus, which doesn't disclose details on the sales. It was the biggest technology IPO in history at the time.

The value of Saverin's cash investments includes more than $500 million of proceeds from the sale of Facebook shares, according to company filings and an analysis of Bloomberg data as of Feb. 11, 2019, as well as the effect of taxes and market performance. It also includes stakes in startups such as Jumio and Perx that are based on transaction prices at secondary exchange SharesPost in 2010.

The billionaire renounced his U.S. citizenship in 2011. Americans who give up their passport owe what's effectively an exit tax on the estimated capital gains from their stock holdings at the time of the renunciation. Saverin’s bill would be about $255 million, according to data compiled by Bloomberg. The bill can be deferred indefinitely until he actually sells the shares so it's included as a liability until the shares are sold.

Biography

Birthdate: 3/13/1982
Family: Married, No children
Education: President & Fellows of Harvard College

Born to a wealthy Brazilian family in 1982, Saverin moved to Miami as a child and went on to attend Harvard University. In February 2004, he joined Mark Zuckerberg and two other classmates in starting Facebook, which began as a social-networking website for college students. Saverin stayed behind when his colleagues moved to Silicon Valley, and was cut from the company in the summer of 2004 amid management disagreements.

The falling-out led to the dilution of his holding as new investors came in, which he contested in court. A 2009 legal settlement gave him an undisclosed stake and the right to be officially referred to as a co-founder on Facebook's website. That year, Saverin moved to Singapore. He renounced his U.S. citizenship around September 2011, and now invests in internet startups.

Milestones
  • 1982 Eduardo Saverin is born in Sao Paulo, Brazil.
  • 1992 Saverin moves to the U.S., becoming a citizen six years later.
  • 2004 Cofounds Facebook; he is cut from the company months later.
  • 2009 Secures stake in legal settlement; moves to Singapore.
  • 2010 Agrees to sell some Facebook shares to DST.
  • 2011 Renounces his U.S. citizenship; remains Brazilian.
  • 2012 Facebook sells shares in what was then the biggest technology IPO in history.
  • 2012 The social network crosses the 1 billion members mark.