Eduardo Saverin: Facebook CoFounder who Sued for Billions
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.
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?
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!
"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."
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.
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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