Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#150 Eduardo Saverin $9.44B

Random fact: Has lived in Singapore since 2009.

Overview

Saverin is a co-founder of Facebook, the world's largest social-networking company. The site has about 2 billion monthly users and had revenue of $28 billion in 2016. The Menlo Park, California-based company sold shares in an initial public offering in May 2012 that was the biggest-ever technology IPO at the time.

As of Oct. 17, 2017:
Last change +$41.4M (+0.4%)
YTD change +$3.18B (+50.9%)
Industry Technology
Biggest asset FB US Equity
Citizenship Brazil
Age 35
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Eduardo Saverin's net worth of $9.44B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Saverin's fortune is derived from his stake in Facebook, the world's largest social network, which had 1.9 billion monthly active users as of March 31, 2017, according to its website. He owns about 2 percent of the company, according to its 2017 proxy.

One of Facebook's earliest shareholders, Saverin's stake was diluted by successive rounds of financing. After settling a lawsuit with the company over his ownership in 2009, Saverin held about 5 percent of the shares, according to David Kirkpatrick's book "The Facebook Effect." He agreed to sell some of his stock to Russian billionaire Alisher Usmanov's DST in 2010, according to an attachment to Facebook's 2012 initial public offering prospectus, which doesn't disclose details on the sales. It was the biggest technology IPO in history at the time.

The value of Saverin's cash investments are based on an analysis of taxes, lifestyle costs and market performance, and include stakes in startups such as Jumio and Perx that are based on transaction prices at secondary exchange SharesPost in 2010.

The billionaire renounced his U.S. citizenship in 2011. Americans who give up their passport owe what is effectively an exit tax on the estimated capital gains from their stock holdings at the time of the renunciation. Saverin’s bill would be about $255 million, according to data compiled by Bloomberg. The bill can be deferred indefinitely until he actually sells the shares so it's included as a liability until the shares are sold.

Biography

Birthdate: 3/13/1982
Family: Married, No children
Education: 2006, President & Fellows of Harvard College, Economics, Bachelor's Degree

Born to a wealthy Brazilian family in 1982, Saverin moved to Miami as a child and went on to attend Harvard University. In February 2004, he joined Mark Zuckerberg and two other classmates in starting Facebook, which began as a social-networking website for college students. Saverin stayed behind when his colleagues moved to Silicon Valley, and was cut from the company in the summer of 2004 amid management disagreements.

The falling-out led to the dilution of his holding as new investors came in, which he contested in court. A 2009 legal settlement gave him an undisclosed stake and the right to be officially referred to as a co-founder on Facebook's website. That year, Saverin moved to Singapore. He renounced his U.S. citizenship around September 2011, and now invests in internet startups.

Milestones
  • 1982 Eduardo Saverin is born in Sao Paulo, Brazil.
  • 1992 Saverin moves to the U.S., becoming a citizen six years later.
  • 2004 Cofounds Facebook; he is cut from the company months later.
  • 2009 Secures stake in legal settlement; moves to Singapore.
  • 2010 Agrees to sell some Facebook shares to DST.
  • 2011 Renounces his U.S. citizenship; remains Brazilian.
  • 2012 Facebook sells shares in what was then the biggest technology IPO in history.
  • 2012 The social network crosses the 1 billion members mark.