Who is Eduardo Saverin: a biography of the businessman
Now there is only one person associated with Meta Corporation – Mark Zuckerberg. However, it is important to understand that without proper support, the implementation of the idea would have failed. Therefore, in addition to Zuckerberg himself, three other people participated in the development of Facebook, including Eduardo Saverin. This businessman became an investor in the new project, and now he owns about 2% of Meta Corporation, earning billions of dollars in income.
Saverin himself is a Brazilian citizen. He was born in 1982 into a wealthy family where his father was in business. The latter was doing well, and in 1993 he earned significant capital, which aroused interest from the criminal world. As a result, Eduardo found himself on a list of people who could be kidnapped for a large ransom. To protect his son from such a fate, the family moved to the United States. After attending a prestigious private school in Miami, Saverin enrolled at Harvard.
Eduardo must have learned a lot from his entrepreneur father, and as a student, he began to look for options to generate income. The young man began investing in the Brazilian stock market, and while still at Harvard he managed to earn $300,000. In his first year of studying, Eduardo met Mark Zuckerberg, who was a year up the course. In 2004, young people began to develop ideas for a social network for students at their university together. In this project, Saverin took on the responsibilities of a manager and financial director. However, as Facebook expanded, differences began to grow between the young men as they saw the future of the project differently. To reduce Eduardo’s influence, Zuckerberg reduced his stake in the company, and Saverin sued. However, the case never came to an open trial – the parties were able to personally agree by signing a non-disclosure agreement on the terms of the truce. At the same time, Saverin was returned to the list of founders of the social network and increased his shareholding.
After Facebook, Eduardo invested in a number of other successful projects and now has a fortune of about $10 billion. Among his investments are such startups as Qwiki and Jumio. In 2009, the businessman moved to Singapore, where he permanently resides. In 2017, he even received the status of the richest man in the country.
Despite the fact that after moving from Brazil, Saverin’s family received American citizenship, in 2011 he renounced it and received a Brazilian passport. The main reason for the change of citizenship was the U.S. law, according to which Eduardo must pay a 15% tax on his assets.
