Eduardo Saverin: 10 Things To Know About The Facebook Co-Founder

 @CareyDrew2 on May 04 2012 3:52 PM

Eduardo Saverin is just one of four co-founders of the social-network powerhouse that is Facebook.

But what makes Saverin so unique, among other qualities, is that while he is the only co-founder to have no decision making power in the company, he still owns less than 5 percent of Facebook's shares and has a net worth of $2 billion.

For those who don't know the story, before he was a billionaire, Saverin was nudged out of Facebook early on, having his shares diluted from 34 percent, down to 10 percent, without him even knowing.

Today, after more dilution and sales of some of his shares, his stake is about 2%, according to the report in the WSJ.

And while that might not seem like much, you must remember that we're talking about Facebook - a company whose recent IPO had the social-network valued at around $96 billion.

So thanks to his ties to the company, Mark Zuckerberg's former business partner is currently living a life of lavishness and luxury in a swanky area of Singapore, and from what others are saying, seems to have no regrets about his past.

Having held a residence in Singapore since 2009, Saverin has been attracting Kardashian-like attention with locals closely watching every move he makes - most of which are nocturnal social moves.

Citing people present on specific occasions, the WSJ reports that Saverin is regularly spotted lounging with models and wealthy friends at local night clubs, racking up tens of thousands of dollars in bar tabs by ordering bottles of Cristal Champagne and Belvedere vodka.

Although Saverin did not respond to multiple interview requests, the story describes his current likeness in Singapore as a hugely popular figure with scores of fans hoping for a sighting. Local websites have set up forums with threads entitled Where does one meet Eduardo Saverin in Singapore? Bloggers and journalists have written long posts after spending mere seconds with the billionaire.

As other Facebook founders have followed a somewhat different path, at least publicly, Zuckerberg is most often seen in public walking his dog, and continues to wear his signature zip-up hoodies and drive an Acura.

In light of Saverin making recent headlines with his swanky lifestyle that not many people really knew about, here are 10 more things to know about the facebook co-founder - Eduardo Saverin.

Early Life

Eduardo P. Saverin was born in São Paulo, Brazil, to a wealthy Jewish Brazilian family, and was raised in Miami, Florida. Eduardo's father was a Brazilian industrialist working in export, clothing, shipping, and real estate.

Kidnapping Close Call

In 1993, Saverin's father had become wealthy and it was discovered that his son Eduardo´s name had been placed on a list of kidnapping victims by gangs specializing in kidnapping for ransom. As a result, the family moved to Miami to find a safer place to live.

Education

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. 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).

The Social Network

In the 2010 film The Social Network depicts the relationship between Saverin and Mark Zuckerberg from the creation of Facebook to Saverin taking legal action against Zuckerberg.Saverin is played by actor Andrew Garfield.

Garfield's portrayal of Saverin was met with critical acclaim and received nominations for the Golden Globe Award for Best Supporting Actor, BAFTA Award for Best Actor in a Supporting Role, and the Broadcast Film Critics Association Award for Best Supporting Actor.

Facebook Garage Sale

As of 2010, Saverin has liquidated at least $250 million worth of Facebook stock to later-stage investors such as Digital Sky Technologies, as well as via secondary exchanges like SharesPost.

Post Facebook

Saverin has invested in a number of start-ups, mainly back in the U.S., including Shopsavvy, a price-comparison mobile application; Qwiki, a multimedia video website; and Jumio, a mobile-payments start-up. He put more than $6.5 million each into those companies.

Singapore

Since 2009, Saverin has lived in Singapore.  He reportedly owns a luxury penthouse suite in Singapore's tallest residential building.

In addition, he has been spotted in Singapore's nightclubs spending upwards of $50,000 a night on drinks.

Investments

Saverin's most notable local investment is in Singapore-based Anideo, headed chiefly by Andrew Solimine, a longtime friend. The company has developed a video-streaming application, Denso, that specializes in selecting videos based on a user's personal taste.

300 List

Singapore's Tatler, a society magazine, added him to its 300 List, which celebrates the biggest power players here, including a shipping-container magnate.

Echelon 2011

Saverin was invited to judge pitches for start-ups last June at Echelon 2011, a conference sponsored by Microsoft Corp., Amazon.com Inc. and others.

It was exciting because The Social Network movie had come out, [and] there was a buzz about him being in Singapore, Joon Ian Wong, who then worked for E27, the event's organizer, told WSJ

Start-ups wanted to...see Saverin in the flesh, he added

But hours before he was due onstage, Mr. Saverin canceled via text message, saying he wasn't well. People familiar with the matter say he has canceled other appearances at the 11th hour.

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