Eduardo Saverin
Eduardo Luiz Saverin (born March 19, 1982) is a Brazilian entrepreneur, investor, and philanthropist who is best known as a co-founder of Facebook. After a contentious legal dispute with Mark Zuckerberg over his ownership stake, Saverin eventually retained approximately 5% of the company, which made him a billionaire when Facebook went public in 2012.
Saverin relocated to Singapore in 2009 and renounced his U.S. citizenship in 2011, a decision that drew significant public criticism given its timing before Facebook's IPO. He has since established himself as a prominent venture capitalist through B Capital Group, which he co-founded in 2015 and has grown to manage over $6.5 billion in assets. As of 2025, with an estimated net worth of US$34 billion, Saverin is the wealthiest Brazilian and the richest person in Singapore.
Early life
Eduardo Saverin was born on March 19, 1982, in São Paulo, Brazil, into a wealthy Jewish-Brazilian family.
His father, Roberto Saverin, was a successful businessman with diverse interests including clothing, shipping, energy, and real estate. His mother, Sandra, worked as a psychologist.
The Saverin family enjoyed considerable wealth in Brazil, but the country's economic instability and rising crime rates during the 1990s created concerns about safety and opportunity.
Move to the United States
In the early 1990s, when Eduardo was around 11 years old, the family relocated to Miami, Florida. The move was partly motivated by security concerns, as kidnapping of wealthy individuals had become an increasing problem in Brazil.
In Miami, Eduardo attended Gulliver Preparatory School, an elite private school that prepared him for eventual admission to one of America's top universities.
Education
Saverin enrolled at Harvard University, where he studied economics in the Class of 2006. At Harvard, he was a resident of Eliot House, one of the university's residential houses.
He became a member of the Phoenix S.K. Club, one of Harvard's exclusive "final clubs" that serve as social organizations for privileged students. He also served as president of the Harvard Investment Association, demonstrating his interest in finance and investing from an early age.
In 2006, Saverin graduated magna cum laude from Harvard with a Bachelor of Arts in Economics. His academic achievement and business acumen had already been demonstrated through his work founding Facebook with his classmate Mark Zuckerberg.
Co-founding Facebook
Meeting Mark Zuckerberg
During his junior year at Harvard, Saverin met fellow undergraduate Mark Zuckerberg through mutual friends in their residential community. Despite their different backgrounds—Saverin was a polished, business-minded Brazilian while Zuckerberg was a socially awkward programming prodigy—they found common ground in their ambition.
Noting the lack of a dedicated social networking website for Harvard students, the two began collaborating on what would become Facebook.
Initial investment and role
Saverin provided the crucial initial capital that allowed Facebook to launch. In early 2004, he invested $15,000 to cover the costs of servers and infrastructure needed to get the website running. In exchange for his investment and his role as chief financial officer and business manager, Saverin received a 30% stake in the company.
On February 4, 2004, Facebook went live at Harvard. Saverin's money had paid for the servers. His business skills complemented Zuckerberg's technical abilities, and together with other early partners, they formed Facebook as a limited liability company under Florida law in April 2004.
Saverin served as Facebook's initial business manager, handling the company's finances and early business development while Zuckerberg focused on the product and technology.
Growing tensions
As Facebook rapidly grew during 2004, tensions developed between Saverin and other members of the team, particularly as the company's focus shifted from Cambridge to Silicon Valley.
While Zuckerberg moved to Palo Alto for the summer of 2004 to build Facebook full-time, Saverin remained in New York, where he had taken an internship. This geographical separation contributed to growing conflicts about the company's direction and Saverin's level of commitment.
Saverin also grew concerned about how company funds were being used. When Zuckerberg asked Saverin to transfer control of the company bank account, Saverin froze the account, worried that funds might be misused. This action infuriated Zuckerberg and other team members who felt Saverin was hindering the company's growth at a critical moment.
Share dilution controversy
The dilution
The central controversy of Saverin's relationship with Facebook concerns the dramatic dilution of his ownership stake in 2004 and 2005.
When Facebook received $500,000 in angel investment from Peter Thiel in the summer of 2004, the company was restructured. According to court documents and contemporaneous emails later made public, Saverin's stake was deliberately diluted while other founders' stakes were protected.
Saverin's ownership was reduced from approximately 30-34% to less than 10% in the initial restructuring. In subsequent funding rounds, his stake was diluted further—reportedly to as low as 0.03% according to some accounts.
Emails obtained by Business Insider in 2012 revealed Zuckerberg's intentions regarding Saverin. In one message, Zuckerberg asked his lawyer: "Is there a way to do this without making it painfully apparent to him that he's being diluted to 10%?"
Another email showed Zuckerberg stating: "Eduardo is refusing to co-operate at all..." as justification for the dilution.
Lawsuits
In April 2005, Saverin filed suit against Facebook, alleging fraud, breach of contract, and wrongful dilution. He claimed he had been systematically pushed out of the company he helped found.
Facebook countersued, arguing that Saverin had breached his fiduciary duty by freezing the company's bank accounts and failing to complete business tasks he had agreed to perform.
The legal battle was bitter and personal. Facebook initially sought to deny Saverin his title as co-founder, attempting to minimize his role in the company's history.
Settlement
In 2009, the lawsuits were settled out of court. The terms remained confidential, and Saverin signed a non-disclosure agreement preventing him from discussing the details.
However, the settlement affirmed Saverin's title as a co-founder of Facebook—a recognition that had significant symbolic and financial value. His final stake in the company was reported to be approximately 4-5%.
When Facebook went public in May 2012, Saverin's 5% stake was worth approximately $2 billion. Despite the contentious history, his early investment and subsequent legal battle had secured him enormous wealth.
The Social Network
Saverin's story gained widespread public attention through "The Social Network," the 2010 Academy Award-winning film directed by David Fincher and written by Aaron Sorkin.
In the film, Saverin (portrayed by Andrew Garfield) is depicted sympathetically as a loyal friend who was betrayed by Zuckerberg. The movie dramatizes the share dilution controversy and portrays Zuckerberg as a manipulative figure who sacrificed friendship for business success.
While Saverin did not publicly endorse all aspects of the film's portrayal, the movie significantly shaped public perception of the Facebook founding story and generated sympathy for his position in the disputes with Zuckerberg.
Move to Singapore and citizenship controversy
Relocation
In 2009, Saverin relocated to Singapore. He has since made the city-state his permanent home, citing its business environment, quality of life, and strategic location as factors in his decision.
Renunciation of U.S. citizenship
In September 2011, Saverin renounced his United States citizenship to become a permanent citizen of Singapore. This decision attracted enormous controversy given its timing—just months before Facebook's highly anticipated IPO in 2012.
Critics charged that Saverin was abandoning the country that had educated him and provided the environment for his success, primarily to avoid paying U.S. taxes on his Facebook fortune. Under U.S. law, citizens are taxed on worldwide income regardless of where they live, while non-citizens are not.
Saverin denied that tax avoidance was his motivation. He stated that his decision "was based solely on my interest in working and living in Singapore where I have been since 2009." He emphasized his desire to live and work in Asia as the region's economies grew in importance.
The controversy prompted U.S. Senators Chuck Schumer and Bob Casey to propose the "Ex-PATRIOT Act" (Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy), which would have imposed additional taxes on wealthy individuals who renounce citizenship and barred them from re-entering the United States. The bill was never enacted.
Regardless of Saverin's stated motivations, his decision allowed him to avoid paying substantial U.S. taxes on subsequent Facebook share appreciation and dividend income. Singapore has no capital gains tax, making it an attractive domicile for investors.
Post-Facebook career
B Capital Group
In 2015, Saverin co-founded B Capital Group, a venture capital firm focused on investments in transformative technology across several sectors:
- Artificial intelligence and machine learning
- Healthcare and life sciences
- Energy and sustainability
- Enterprise technology
The firm has grown substantially under Saverin's leadership. In under a decade, B Capital has expanded to:
- 8 locations globally
- Over 100 employees
- More than $6.5 billion in assets under management
B Capital positions itself as a "multi-stage global investment firm" that helps growth-stage companies scale internationally. The firm has invested in companies across Asia, the United States, and other markets.
Investment philosophy
Saverin has described his investment approach as focused on identifying "transformative technologies" that can create significant positive impact while generating strong returns. His experience with Facebook—watching a college project become a global technology giant—informs his view of how technology companies can scale.
Personal life
Marriage
In 2015, Eduardo Saverin married Elaine Andriejanssen, an Indonesian of Chinese-Dutch ancestry. Elaine was born in Jakarta, Indonesia, on March 28, 1984, and comes from a wealthy family with interests in Indonesia.
She has a background in finance and works alongside Eduardo on various business and philanthropic initiatives. The couple has one child.
Residence
Saverin lives in Singapore, dividing his time between his residence there and travel for B Capital's global investment activities.
Philanthropy
Saverin and his wife Elaine have become increasingly active philanthropists. In 2023, they established the Elaine and Eduardo Saverin Foundation, which focuses on four key areas:
1. Education – Supporting educational access and opportunity 2. Wildlife conservation and regenerative futures – Environmental protection and sustainability 3. Healthcare – Medical research and healthcare access 4. Mental health – Mental health services and awareness
In September 2024, the foundation donated $15.5 million to Singapore American School, a significant contribution to educational institutions in their adopted home.
In November 2025, the foundation launched a mental health scholarship program at the National University of Singapore, supporting up to 8 scholars annually for an 18-month postgraduate program in Clinical Mental Health and Psychotherapy. The scholarship covers the full program fee (approximately $54,000) plus a living stipend.
Net worth
As of 2025, Eduardo Saverin's net worth is estimated at approximately US$34 billion, making him:
- The wealthiest Brazilian by net worth
- The richest person in Singapore
- Among the 50 wealthiest people in the world
His wealth derives primarily from his retained stake in Meta Platforms (Facebook's parent company) and his venture capital investments through B Capital Group.
The extraordinary growth in his net worth reflects both the appreciation of Meta's stock since the 2012 IPO and successful returns from his venture investments.
Legacy
Eduardo Saverin's legacy is complex and contested.
His supporters emphasize:
- His crucial early financial support that enabled Facebook to launch
- His successful reinvention as a venture capitalist after his ouster from Facebook
- His philanthropic commitments through the Saverin Foundation
- His role in building a major venture capital firm in Asia
His critics point to:
- The controversial circumstances of his citizenship renunciation before the Facebook IPO
- Perceptions that he abandoned the U.S. to avoid taxes
- Questions about whether his Facebook contributions merited co-founder status
The 2010 film "The Social Network" portrayed him sympathetically, but the reality is more nuanced than Hollywood's version. Whether hero or opportunist, Saverin's story illustrates both the extraordinary wealth creation of Silicon Valley and the ethical complexities that can accompany it.