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Eduardo Saverin: Facebook CoFounder who Sued for Billions

Updated on September 4, 2012

Eduardo Saverin: Facebook Billionaire

Not much has been heard of about CoFounder of Facebook Eduardo Saverin before the film "The Social Network" came out. Now the world wants to learn all about this unheard of Billionaire who was able to successfully sue Facebook for 5% of the company worth billions. While rumors of his oil features being worth millions, his trader savvy knowledge being researched, and facts on his personal life being sought for profusely, he still remains silent.

Seemingly content to sit under the radar since his lawsuit, Saverin has remained silent on the social media giant, which is surpassing Google to become the most visited website in the world this year. Continue reading to find out about the 26 year old with over 1.3 billion in Facebook stock and what little is known about him.

Saverin and Zuckerberg in Frat
Saverin and Zuckerberg in Frat

Eduardo Saverin's Personal Life

Eduardo Saverin was born in Brazil in 1984 and moved to Florida in the mid 1990s, where he lived until attending Harvard University where he received his BA in Economics in 2006. While at Harvard he met Mark Zuckerberg and assisted in co-founding Facebook during his junior year, which is his most notable achievement to date. He also served as the Harvard Investment Association's President, and made hundreds of thousands betting on weather and oil futures.

He met Zuckerberg while recruiting for the Phoenix S.K. Club during his sophomore year, and became the business manager for Facebook when they began work on their "social network". However there were eventually some disagreements between them which ultimately led to Saverin's removal from Facebook's Founding team and a lawsuit in which he regained a significant stock portion (worth 1.3 billion) and CoFounder credit. He currently has several private interests he manages including a health startup, but nothing which he has publicly chosen to align himself with.

Should Eduardo Saverin have $1.3 Billion for his work on Facebook?

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Eduardo Saverin Speaks!

Read below for details on Eduardo's Letter

Eduardo Writes on CNBC Oct 15th

Just as everyone was getting used to never hearing from Eduardo, having been silent since the trial with Facebook, he pops up again. Saverin submitted a letter to the public through CNBC on October 15th 2010, after he watched the movie "The Social Network." While he does not address the movie's validity or the lawsuit between him and Facebook, it is nice to know that he is still alive and well. In the letter Saverin focuses on promoting entrepreneurship in America, which he feels is the driving force behind the American economy. A great job at re-emerging from his hiatus quietly and honorably. Take a look at the article for yourself, I've included a link below.

Get the Social Network on Amazon Today!

Saverin Qoute

"While watching the "Hollywood version" of one's college life is both humbling and entertaining, I hope that this film inspires countless others to create and take that leap to start a new business."

Eduardo Saverin

Co-founder, Facebook

Mark Zuckerberg
Mark Zuckerberg

How The Cookie Crumbled

Mark Zuckerberg needed money, just like every business when it first gets started, and Eduardo Saverin had lots of it. Well. Lots for a college student who had no other alternative. After Facebook was becoming established however, Saverin's usefulness began to outweigh the constant road blocks he placed in Mark's path to social network domination. Mark moved to Silicon Valley in the summer of 2004 six months after Facebook's launch to further push the success of the company, while Saverin remained at Harvard. Mark left Saverin with three tasks to complete while he was in California, and they were:

1. to set up the company

2. get funding

3. and make a business model

Saverin didn't complete any. In fact, he actually used Facebook for his own personal endeavors, advertising his own startup Joboozle on Facebook without the authorization or consent of Zuckerberg. This clearly was not benifical to the relationship which was beginning to weaken as communication broke down over the long distance they maintained. When Zuckerberg decided to not return to Harvard the following year, it furthered Mark's resolve to remove Saverin from the company's operations, as having to run things through him as a company officer was becoming increasingly difficult. Zuckerberg eventually created a new company to buy out the old one, and issued shares to everyone but Saverin, which caused the lawsuit which awarded Saverin 5% of Facebook's shares, but greatly reduced it from the 30% he at one time held.

Andrew Garfield
Andrew Garfield

The Social Network

How the Facebook Movie was made.

Facebook's little secrets finally came out this week, with "The Social Network" hitting theatres to reveal a dark and less noble side to all the individuals involved in the most successful social website ever created. Questions hovered around and still remain as to the validity of much of the film's premises, and if true how they were made public. The most commonly agreed upon theory is that Eduardo Salevin was bitter because of his ejection from Facebook, and consequently went to Ben Mezrich with a tell all tale.

Andrew Garfield played the character of Salevin in the film, and the movie certainly does portray him as much less of an aggravator than Zuckerberg claims him to be. This is most likely exactly what Salevin was looking for when he came to Mezrich with his story of the events of Facebook, giving him a much more amiable aspect than has been seen before, as well as catepulting him into the national headlines with newfound fame and fanfare.

Search Amazon for The Social Network and other Facebook Items

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    • Cory Burright profile image

      Cory Burright 2 years ago

      Has anyone ever figured out a way to actually contact facebook? It's funny no one has raised a issue with not being able to reach a actual person in regards to ones account on facebook especially if it involves ur account being hacked. It still tells everyone to refer to the community board. Lol

    • profile image

      Johng502 3 years ago

      There is visibly a bundle to realize about this. I assume you made certain nice points in features also. dbefeefdedbe

    • profile image

      anonymous 5 years ago

      This was a very revealing movie about the down and dirty about the road to success.. I have lived some of my own success secrets. However, it gave me a very good perspective about ideas and how they really can change your life sometimes or the better or worst...

    • greetingcardsinfo profile image

      greetingcardsinfo 6 years ago

      Really good lens I must to get to see the film

    • profile image

      anonymous 7 years ago

      let's just be positive thinking in the event that occur between a relationship's kinda hard to maintain when it's a long distance so i guess what happen most likely just misunderstanding between them...besides if it's true the first money that ever come to this company of theirs come from eduardo even though he might not be capable to do the task he was given BUT indeed that his money that runs that company at first...and btw I LOVE FACEBOOK...I LOVE "SOCIAL NETWORK"...i think BOTH ARE BRILLIANT...and hopefully it will inspire other young people to be creative and more entrepreneurial like them...KUDOS for Mark Zuckerberg, Eduardo Saverin, Dustin Moskovitz, Chris Hughes even Sean Parker...

    • LissaKlar LM profile image

      LissaKlar LM 7 years ago

      Haven't seen the movie yet but it's on our list to get on demand this weekend. Thanks for all the info now I can update my husband before we watch. I didn't know a lot about the story. I can't believe how huge facebook is. I've come to think it's somewhat evil.

    • jackieb99 profile image

      jackieb99 7 years ago

      The social network was a fascinating movie!

    • Board-Game-Brooke profile image

      C A Chancellor 7 years ago from US/TN

      An extra blessing to tide you into January... Blessed by a SquidAngel! :-)

    • sorana lm profile image

      sorana lm 7 years ago

      Very interesting lens and story. I have never heard of Saverin Eduardo. Can't wait to see the movie now.

    • lisasboutique profile image

      lisasboutique 7 years ago

      never realised that facebook could be sued, and that the co-founder was the person to sue!! Great lens, and loved how you presented the information :)

    • katiecolette profile image

      katiecolette 7 years ago

      Very interesting lens :)

    • passionatehouse profile image

      passionatehouse 7 years ago

      I really enjoyed the movie, and thought Jesse Eisenberg was great. I would like to see it again, as he was a fast talker. Even if the movie was not tatally accurate it was quite interesting and, I thought, very well done. Thanks for an interesting lens!

    • profile image

      jgelien 7 years ago

      I am anxious to see the movie. Thanks for all the background information on the creation of Facebook. Great lens.

    • Geekgurl profile image

      Kimberly Hiller 7 years ago from Chicago

      Thanks for this lens, quite enjoyable read.

    • profile image

      scar4 7 years ago

      I was impressed by the story of Facebook cofounder Eduardo Saverin. With billions in hand, he could start another business sooner or later.

    • lovelylashes profile image

      lovelylashes 7 years ago

      I haven't seen The Social Network, but Eduardo's story is quite interesting. Great lens!

    • profile image

      fxgrand 7 years ago

      Great lens Chris. Gave me interesting facts about one of the founders of facebook.

    • profile image

      anonymous 7 years ago

      I loved the Social Network, was looking for more information on Eduardo Saverin. Thanks!

    • profile image

      termit_bronx 7 years ago

      Just watched "The Social Network" yesterday .

    • phdesign profile image

      phdesign 7 years ago

      How did a Harvard Student finance hundreds of thousands in futures investments?

    • MisterJeremy profile image

      Jeremy 7 years ago from Tokyo, Japan

      Nice timely lens. Blessed.

    • surgimesh lm profile image

      surgimesh lm 7 years ago

      Interesting lens, Chris! I liked it.. you got me curious with the facts..

    • profile image

      Tahamtan 7 years ago

      Interesting topic and nice lense. Facebook story is an interesting one with its ambiguities like any other great stories.

    • ajgodinho profile image

      Anthony Godinho 7 years ago from Ontario, Canada

      Interesting read...I didn't know about Eduardo as well before the movie came out. Well done lens!

    • profile image

      anonymous 7 years ago

      he is something :)

    • profile image

      anonymous 7 years ago

      he is something :)

    • profile image

      anonymous 7 years ago

      Thanks for posting the info, was curious about him after "The Social Network" came out.