Eduardo Saverin Facebook net worth Settlement with Mark Zuckerberg

Eduardo Saverin co-founders of Facebook along with Mark Zuckerberg and others. He has a 5% share of Facebook, worth $ 1,100,000 as on may 13, 2010.In the movie Social networks, his character is played by Andrew Garfield. In 2005, Saverin sued Zuckerberg for diminishing his Facebook stake and reportedly reaped a $1.1 billion settlement.

So where is Saverin now? His Facebook profile indicates he's in New York, but he keeps a low profile. Mezrich tells us that when his proposal for 'The Social Network' leaked onto the Net in 2009, Saverin 'freaked out and cut off' contact with the author.



In 2003, Zuckerberg (then a sophomore at Harvard) approached Saverin (a junior) about TheFacebook.com. He asked Saverin to become his business partner and to put down $15,000 for the servers needed to run the site. In return, he'd get about 30% of the company. When Facebook took off in 2004, Zuckerberg and another co-founder, Dustin Moskovitz, decided that they had to move to Silicon Valley. They got a place in Palo Alto and started coding. Saverin had an internship with Lehman Brothers in New York. According to Business Insider, Zuckerberg asked Saverin to take care of the paperwork, to get funding and to figure out a way to make money.


But Saverin was slow to make decisions and slow to sign off on the paperwork. Eventually, his role was taken by entrepreneur Sean Parker, who quickly secured a $500,000 investment by PayPal co-founder Peter Thiel. Zuckerberg was able to reduce Saverin's stake in the company from 30% to less than 10% in short order. His equity was diluted from that point onward.

As detailed in The Social Network, Saverin eventually sued Facebook. The matter was soon settled. Saverin got about 5% of the company (worth more than $2.5 billion today) and signed a non-disclosure that has essentially kept him quiet since.

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