Eduardo Saverin

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Eduardo Saverin
Eduardo Saverin CHINICT.JPG
Saverin at the CHINICT conference
on May 25, 2012
Born (1982-03-19) 19 March 1982 (age 32)
São Paulo, Brazil
Residence Singapore
Citizenship Brazil[1][2]
Alma mater Harvard University (B.S., Economics, 2006)
Known for Co-founder of Facebook
Net worth Increase US $3.3 billion (January 2014)[3]
Website
www.facebook.com/saverin

Eduardo Luiz Saverin[4][5][6] (Portuguese pronunciation: [eduˈaɾdu luˈis ˈsaveɾĩ]) is a Brazilian internet entrepreneur and investor.[7] Saverin is one of five co-founders of Facebook, along with Mark Zuckerberg, Dustin Moskovitz, Chris Hughes, and Andrew McCollum.[8] As of 2012, he owns less than 5% of Facebook's shares and has a net worth of $3.9 billion, according to Forbes. He has also invested in early-stage startups such as Qwiki[9] and Jumio.[10]

Personal life[edit]

Eduardo Saverin was born in São Paulo, Brazil, to a wealthy Jewish Brazilian family,[11][12][13][14] and his family later moved to Rio de Janeiro. Eduardo's father was an industrialist working in export, clothing, shipping, and real estate.[15]

In 1993, due to his father's wealth, it was discovered that his son Eduardo's name had been placed on a list of potential kidnapping victims by gangs specializing in kidnapping for ransom. As a result, the family emigrated to the United States to find a safer place to live, and settled in Miami, Florida. Saverin attended Gulliver Preparatory School in Miami, and went on to Harvard University, where he was a member of the Phoenix S.K. Club as well as president of the Harvard Investment Association. While an undergraduate at Harvard, Saverin took advantage of Brazil's lax insider trading regulations and made $300,000 via strategic investments in the oil industry.[15][16][17] In 2006, Saverin graduated magna cum laude from Harvard University with a bachelor's degree in economics. He is a member of the Alpha Epsilon Pi fraternity (Eta Psi chapter of Harvard University).

Saverin has lived in Singapore since 2009.[18][19] In September 2011, he renounced his U.S. citizenship; the citizenship change was speculated to have been an attempt to reduce the capital gains taxes Saverin would have paid after the Facebook IPO.[20][7][21] In response, Senator Chuck Schumer introduced the Ex-PATRIOT Act, which could have prevented Saverin from ever entering the U.S. again, but the bill died in committee.[22][23][24]

Facebook[edit]

During his junior year at Harvard University, Saverin met fellow Harvard undergraduate, sophomore Mark Zuckerberg. Noting the lack of a dedicated social networking website for Harvard students, the two worked together to launch The Facebook in 2004. As co-founder, Saverin held the role of chief financial officer and business manager.[25]

A lawsuit filed by Facebook against Saverin and a countersuit filed by Saverin against Facebook[clarification needed] were settled out of court. Though terms of the settlement were not disclosed, the company affirmed Saverin's title as co-founder of Facebook. Saverin signed a non-disclosure contract after the settlement.[26]

Depictions in media[edit]

The 2010 film The Social Network depicts the relationship between Saverin and Zuckerberg from their creation of Facebook to Saverin's legal action against Zuckerberg. Actor Andrew Garfield's portrayal of Saverin was met with critical acclaim and received nominations for the Golden Globe Award for Best Supporting Actor - Motion Picture, BAFTA Award for Best Actor in a Supporting Role,[27] and the Broadcast Film Critics Association Award for Best Supporting Actor.

References[edit]

  1. ^ Kucera, Danielle; Harper, Christine; Drucker, Jesse (2012-05-12). "Facebook Co-Founder May Gain Choosing Singapore Over U.S.". Bloomberg News. Retrieved 2012-05-14. "Saverin still does hold Brazilian citizenship, Goodman said." 
  2. ^ "Saverin 'has no plans to become S'pore citizen'". Today. 2012-05-17. Retrieved 2012-05-17. 
  3. ^ "Profile: Eduardo Saverin: Net Worth $2.2B", Forbes, #634 List of the World's Billionaires, as of March 2013
  4. ^ Internal Revenue Service (30 April 2012). "Quarterly Publication of Individuals, Who Have Chosen to Expatriate, as Required by Section 6039G". Federal Register. 
  5. ^ Feeney, Kevin J. (2005-02-25). "Business, Casual". The Harvard Crimson. Retrieved 2012-05-11. 
  6. ^ "America's Youngest Billionaires". Forbes. October 6, 2010. 
  7. ^ a b Kucera, Danielle; Vallikappen, Sanat; Harper, Christine (2012-05-11). "Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO". Bloomberg L.P. Retrieved 2012-05-11. 
  8. ^ Mezrich, Ben. The Accidental Billionaires: The Founding of Facebook: A Tale of Sex, Money, Genius and Betrayal, 2009.[page needed]
  9. ^ Bosker, Bianca, "Facebook Co-Founder Eduardo Saverin Invests In Qwiki"
  10. ^ Wauters, Robin, "Exclusive: Facebook Co-Founder Eduardo Saverin Leads $6.5M Round For Jumio", TechCrunch, Thursday, March 17, 2011
  11. ^ The Social Network: How Jewish is Facebook?, The Jewish Chronicle, Jennifer Lipman, October 14, 2010
  12. ^ The Accidental Billionaires, Ben Mezrich, Random House Inc, 2010
  13. ^ Zuckerberg: jovem, bilionário e... trapaceiro? Lucas Amorim, Info Exame, 20/08/2009
  14. ^ Zuckerberg teria passado para trás amigo brasileiro Gustavo Chacra, Estadao, estadao.com.br, Atualizado: 2/10/2010
  15. ^ a b Tagiaroli, Guilherme; Ikeda, Ana (October 22, 2010). "Conheça Eduardo Saverin, o brasileiro que ajudou a fundar o Facebook". UOL (in Portuguese). Retrieved May 12, 2012. 
  16. ^ The Truth Behind Facebook's Founding is Finally Revealed
  17. ^ "A Facebook Tale: Founder Unfriends Pals on Way Up", NPR
  18. ^ Miguel Helft (January 20, 2011). "Facebook Co-Founder Backs Start-Up". New York Times. Retrieved August 10, 2011. 
  19. ^ Lacy, Sarah, "Where in the World Is Eduardo Saverin? In Singapore Funding Facebook Games", TechCrunch, Thursday, October 28, 2010
  20. ^ McCormick, Jason (11 July 2012). "5 citizens who left the U.S. to avoid paying tax". CBS News. Retrieved 17 June 2014. 
  21. ^ Worstall, Tim (May 12, 2012). "IPO Will Increase, Not Reduce, His Tax Bill". Forbes. Retrieved May 12, 2012. 
  22. ^ Miller, Sunlen (2012-05-17). "Senators to Unveil the 'Ex-Patriot Act' to Respond to Facebook's Saverin's Tax 'Scheme'". ABC News. Retrieved 2012-05-18. 
  23. ^ With the Facebook IPO, missing Eduardo Saverin, Washington Post, May 18, 2012
  24. ^ "Bill Summary & Status, 112th Congress (2011 - 2012): S.3205". THOMAS. 2012-05-18. Retrieved 2012-05-21. 
  25. ^ Mezrich, The Accidental Billionaires.[page needed]
  26. ^ Carvalho dos Santos, Alexandre; Marcelo Rainho (October 2009). "A misteriosa história do brasileiro que fundou o Facebook". Superinteressante (in Portuguese) (São Paulo: Editora Abril) (270): 94–97. ISSN 0104-1789. OCLC 60743498. 
  27. ^ Singh, Anita (2011-01-18). "Andrew Garfield: Famous? I just don't have the time ...". The Telegraph. Retrieved 2012-05-12. 

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