Eduardo Saverin Net Worth Fumble After Recent Losses But Hes Still In The Game

Posted by Brenda Moya on Thursday, May 2, 2024

Eduardo Saverin’s net worth recently suffered a major blow when Meta, previously known as Facebook, was hit with a devaluation in the market. His wealth went down by almost $4.2 billion, a major hit by any standards.

Many people are used to seeing Mark Zuckerberg as the sole name whenever Meta or Facebook is mentioned in the news. But few know there is also Eduardo Saverin’s net worth to look at, as he was also behind the company when it was starting to enter the game.

Eduardo Saverin was one of the co-founders of Facebook (at that time). In order to grasp a little about his standing and where he is, in the year 2012 he owned 53 million Facebook shares. This number approximated around 2% of outstanding shares worth $2 billion at the time.

Who is Eduardo Saverin?

Full name Eduardo Luiz Saverin, the man was born in the beautiful city of Sao Paulo in Brazil on 19th March 1982. His parents were Roberto Saverin and his mother Sandra. He was born to wealthy parents, as his father Roberto was a businessman who was in multiple endeavors such as shipping, real estate, energy, and textile.

His mother was a psychologist. The household later moved to Rio de Janeiro. Talking about his family lineage, his grandfather was the founder of Tip Top. The family later migrated to the United States and settled in Miami in 1993.

Early Education

Eduardo Saverin went to Gulliver Preparatory School after the family settled in Miami. He then went to Harvard University for his undergraduate studies. Over there, he studied meteorology where his interest lay in predicting patterns relating to hurricanes. 

He resided in Eliot House and was a Phoenix S. K. Club member. From the very start, he was interested in investments and was the president of Harvard Investment Association. He also made $300,000 profit as a result of betting on oil futures.

He graduated in the year 2006 with a BA in Economics. 

Eduardo Saverin’s Personal Life as We Know It

Eduardo Saverin met Elaine Andriejanssen when they both were in their respective universities. Eduardo was in Harvard and Elaine in Tufts, and both were similar to the extent that their families were business-oriented and were running several businesses. 

Elaine Andriejanssen is of Chinese lineage and holds Indonesian nationality, somewhat similar to Eduardo himself who belonged from somewhere and held nationality of another country. They both started dating and clicked together, and got engaged on 27th March 2014.

Their engagement turned out to be successful and the couple decided to marry each other. Their matrimonial ceremony was held on 25th June 2015, a year after their engagement. 

Controversy After Renouncing United States’ Citizenship

Eduardo Saverin’s net worth escalated as a result of his shares in Facebook and his venture capital company. He garnered significant controversy when suddenly in September 2011, he announced he was revoking and renouncing his United States citizenship.

Although Eduardo cited his main reason for renouncing his citizenship and moving to Singapore as his “interest in working and living in Singapore”, media and critics weren’t believing that. They believed that he carried out this move, as a result, to save money from taxes.

An estimated amount of $700 million was saved as a result of this move, according to analysis and estimates. This amount was to be paid by Eduardo Saverin as capital gains tax, and he has denied that he was avoiding taxes but said he wanted to be where he was since 2009.

Eduardo Saverin’s Net Worth

Facebook, Now Known as Meta

Eduardo Saverin’s net worth is worth mentioning whenever his name is printed. His 2% stake in Meta alone amounts to a lot. The company is valued as a $475 billion company and one can easily work out the number by digging a little into the numbers.

B Capital

He went on to co-found a venture capital firm named B Capital. The firm has made about 20 investments and has pursued a pattern that is visible from Eduardo’s life. The firm is co-founded by Eduardo Saverin and his friend Raj Ganguly – BCG and Bain Capital veteran.

International opportunism is what the company is targeting and what is evident from its portfolio. They have nodded towards companies from around the spectrum such as in logistics and commerce to companies hailing from Asia and India. 

All of these companies rarely make it to Silicon Valley, and this is where Eduardo and Ganguly can help with their supreme information regarding the complexities required to operate locally. 

The fund is estimated to have $1.4 billion under their assets category. 

Eduardo Saverin’s Net Worth Estimated

The total figure tallies up to $11.4 USD. This is an impressive number, and many wonder if there is more to add here. We can only guess and speculate as is common in these cases, such information is hidden and veiled under secrecy.

Regarding Facebook And His Past

Eduardo Saverin says he is at peace with his past and as far as Facebook and Meta are concerned. Although he remains one of the biggest shareholders in the company with his 2%, in his several interviews he has claimed his affection for the company.

“Incredibly close to my heart” is what he said regarding the company. He is also all up for Mark Zuckerberg and Sheryl Sandberg’s leading skills. Sheryl is the Chief Operations Officer of the company. He is impressed with what Meta is doing. 

“I’m incredibly proud of what Mark has done, to build an institution of its size and value. He’ll work hard to get things right,” he has said in his interviews where Facebook has been mentioned. 

What Lies Ahead For Eduardo Saverin

B Capital is looking to a very bright future if things go well for it. The potential status of a tech investor is tagged now with him, and Eduardo Saverin is perfectly placed in the company to guide others with his success and through his network. 

His motto is different from Facebook’s. It states, “move fast and break things.” He motivates his people to make mistakes, but to learn from them immediately and move on, and never repeat the mistake again. Also, apologize if the mistakes affect anyone else, that is very important.

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