The Facebook company, which changed its name to Meta due to the numerous sensational events it was involved in, is today one of the most important technology companies with the largest social media platforms in the world. Although the first name that comes to mind when everyone thinks of Facebook is Mark Zuckerberg, the company was actually founded by four partners, including Eduardo Saverin.
We all remember the name of Eduardo Saverin, who still owns a certain share of the company, with the lawsuit he filed. After this lawsuit, Saverin, who won the title of co-founder along with some rights, is doing quite well as a venture investor today. One of the most interesting details about him is that he renounced his US citizenship to avoid paying taxes on his billion-dollar fortune. Let’s take a closer look at who Eduardo Saverin is.
Who is Eduardo Saverin? Successful son of a wealthy family:
Eduardo Luiz Saverin was born on March 19, 1982 in Sao Paulo, Brazil, to a family of Jewish origin. his father; He was a businessman working in many important sectors such as clothing, transportation, energy and real estate. The family immigrated to the United States in 1993, moving to Miami, Florida.
Eduardo Saverin started his education life at the Gulliver Preparatory School here. After basic education, he started to study economics at Harvard University. Of course, Eduardo Saverin did not have a very ordinary student life as the successful son of a wealthy family.
A student who has invested hundreds of thousands of dollars:
Eduardo Saverin was a member of the Alpha Epsilon Pi fraternity at Harvard University. He was also a member of the Phoenix SK Club and president of the Harvard Investment Association. Even more interestingly, Saverin was making unexpected investments from a student. In addition to a system that predicts hurricane patterns, he also invested $300,000 in the oil market while he was a student. So Eduardo Saverin really knew his stuff.
And Eduardo Saverin meets Mark Zuckerberg:
Eduardo Saverin met Mark Zuckerberg, a sophomore at Harvard University, just like him, while he was in his sophomore year. The duo, who immediately became good friends, thought that Harvard University needed a social network and founded The Facebook company with a capital of a thousand dollars.
This social network, which allows students to communicate with each other, quickly became popular first at Harvard University and then from all schools in the district. The duo, who invested another 18 thousand dollars, started to grow the company gradually. Meanwhile, Eduardo Saverin had successfully graduated and started working in different sectors.
The Facebook moves to Silicon Valley:
The Facebook was now a public social network and was becoming increasingly popular. Meanwhile, Eduardo Saverin, who was interning at Lehman Brothers, saw the potential here and moved the company to Silicon Valley in California. Peter Thiel, one of the co-founders of PayPal, became a partner in the rapidly rising company. The Zuckerberg – Saverin discussions started at this time.
‘You’re too slow Saverin’
Since Eduardo Saverin was one of the company’s directors, he had to have his signature on every decision taken. However, according to Mark Zuckerberg, Saverin was always procrastinating. Meanwhile, Peter Thiel and other executives supported Zuckerberg as CEO. Saverin was the chief operating officer of the company.
First, the company sued him, claiming that an agreement signed by Eduardo Saverin was invalid. Meanwhile, Saverin’s shares were reduced from 34 percent to 0.03 percent. Thereupon, Saverin filed another lawsuit alleging that Zuckerberg used his own money for personal expenses. Things were getting hotter.
Eduardo Saverin’s case settled out of court:
Both Facebook company’s lawsuit against Eduardo Saverin and Eduardo Saverin’s lawsuit against Mark Zuckerberg were resolved in a private meeting without going to court. In 2009, with an agreement between the two, the terms of which have not been disclosed even today, Eduardo Saverin took the title of Facebook co-founder, and the lawsuits were closed. According to the 2022 statement, Eduardo Saverin still owns 2 percent of the company today.
Eduardo Saverin played big, won big:
Eduardo Saverin went to Singapore in 2009. In 2010, he co-founded Aporta, an online charity platform. He voluntarily renounced his US citizenship in 2011. This is thought to be because he avoided paying taxes on his billion-dollar fortune.
Eduardo Saverin, who founded B Capital, a venture firm investing in Southeast Asia and India, in 2015, married Elaine Andriejanssen the same year. Continuing to make many investments with B Capital today, Eduardo Saverin’s fortune is estimated to be over 7 billion dollars.
The film about the Facebok foundation and the Zuckerberg v Saverin case: The Social Network
David Fincher is in the director’s chair of The Social Network, which was adapted into a movie in 2010 from The Accidental Billionaires book written by Ben Mezrich in 2009. In the lead roles, we follow names such as Jesse Eisenberg, Andrew Garfield, Justin Timberlake, Armie Hammer, Max Minghella.
In the movie The Social Network, we watch the founding story of the Facebook company. The film, in which many important events such as the emergence of this idea, its implementation and growth, and the Zuckerberg – Saverin case were told, received full marks from the critics, was nominated for Oscars in many branches and was awarded many awards.
Answering the question of who is Eduardo Saverin, one of the founders of the Facebook company we all remember with his lawsuit, we talked about the details you need to know about this successful businessman. You can share your thoughts about what happened with Eduardo Saverin and Mark Zuckerberg in the comments.
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