Tag Archives: Eduardo Saverin
Senators Respond To Eduardo Saverin’s Citizenship Renouncing With “Ex-Patriot Act”
About a week ago, I wrote an article about how Facebook co-founder Eduardo Saverin renounced his U.S. citizenship. Saverin was born in Brazil and currently lives in Singapore. Saverin had renounced his citizenship in September 2011, but the IRS announced it this month. When Facebook has an IPO, Saverin’s net worth would turn into roughly $3-$4 billion. Singapore does not levy capital gains taxes so by renouncing his citizenship, Saverin would be able to dodge $67 million in taxes. Sen. Chuck Schumer, D-N.Y. and Bob Casey D-Pa. is not happy with this move so they have unveiled the Ex-PATRIOT Act.
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Categories Eduardo Saverin, Senator Bob Casey, Senator Chuck Schumer
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Eduardo Saverin Renounces U.S. Citizenship Days Before Facebook IPO
Facebook co-founder Eduardo Saverin is known for having his shares in the company diluted initially. After a lawsuit against Mark Zuckerberg, Saverin now owns roughly 4% of Facebook and he has just renounced his U.S. citizenship just days before the company is going to have an IPO.
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Categories Eduardo Saverin, Facebook, Reuven Avi-Yonah, Tom Goodman
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Jumio Provides Tech to Make Credit Card Transactions Via Webcam
Jumio’s Netswipe technology is about to revolutionize online credit card payments. The tech scans credit cards with webcams and uses the encrypted video to assess whether the card is real (plastic, raised letters, et cetera) and to record the card number and info. Users then enter the security code via keyboard and the transaction is complete! GigaOM reports that creator Daniel Mattes found a 36% reduction in fraud costs and 2.3 minutes saved per transaction when the Netswipe tech was tested in a six-week trial.
Categories Daniel Mattes, Eduardo Saverin, Jumio, Maarten Linthorst, Mark Britto, Netswipe, Zain Khan
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Eduardo Saverin Sells $500 Million Worth of Facebook Stock [RUMOR]
According to a source with BusinessInsider.com, Facebook co-founder Eduardo Saverin has sold $500 million worth of Facebook stock on a private market. If you have seen the movie The Social Network, you will know that Saverin was fired from the company and his stock was diluted to less than 0.5%. Frustrated by the stock dilution, Saverin shared his story with The Accidental Billionaires author Ben Mezrich. The Social Network is based on that book. Saverin has been using some of his wealth to invest in other Internet companies such as Jumio and Qwiki.
Categories Eduardo Saverin, Facebook
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Eduardo Saverin Participates In Jumio’s $6.5 Million Round Of Funding
Jumio is a mobile payments solution company that is preparing to launch in the next couple of months. Facebook co-founder Eduardo Saverin has participated in the $6.5 million round of funding. He put in over half of the round according to TechCrunch. Saverin will be on Jumio’s board of directors as well.
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Categories Daniel Mattes, Eduardo Saverin, Jumio
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Facebook Co-Founder Eduardo Saverin and Other High-Profile Investors Send $8 Million To Qwiki
Qwiki has raised $8 million in series A funding. The largest investor in this round is Facebook co-founder Eduardo Saverin. Saverin has been very low-key with his investments due to the tumultuous experience he had as a Facebook co-founder. Essentially Mark Zuckerberg reduced Saverin’s equity to 0.03%, but gave him proper equity back when Saverin started talking to the press about his side of the story. His side of the story was made into a movie called The Social Network.
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How Much The Winklevoss Twins and Eduardo Saverin Are Worth Now
If you saw the movie The Social Network, you will know who the Winklevoss brothers and Eduardo Saverin is. Eduardo is a co-founder of Facebook that was at one point muscled out. Eduardo’s name was restored to the masthead and he was given significant equity in Facebook again.
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The Social Network Movie Slated To Hit Theaters On October 15, 2010
The movie about Facebook that is being directed by David Fincher and published by Columbia Pictures is slated to hit theaters on October 15, 2010. The movie was written by Aaron Sorkin and stars Jesse Eisenberg (pictured), Justin Timberlake, Joe Mazzello, and Andrew Garfield. Eisenberg will be playing Facebook founder Mark Zuckerberg and Justin Timberlake will be playing Napster co-founder and former Facebook advisor Sean Parker. Andrew Garfield is playing Eduardo Saverin, a Facebook co-founder who ended up quitting as a disagreement with Zuckerberg over money.
I haven’t yet read the book that the movie is based on, but I think it would be interesting if they also include the three people that Zuckerberg supposedly stole code from: Tyler Winklevoss, Cameron Winklevoss, and Divya Narendra. Supposedly those three individuals made $65 million as part of a settlement with their company ConnectU and Facebook this past February.
Justin Timberlake and Jesse Eisenberg Rumored To Star In Facebook Movie
Next month the movie The Social Network will star production and it was previously rumored that Michael Cera or Shia LaBeouf would be starring in the movie. The Social Network movie will be based on the founding up until the current state of Facebook.
Now two more names have been thrown into the movie rumor mill. The Script Shadow reports that the “cast is set” and Justin Timberlake will star as former Facebook president and Napster co-founder Sean Parker. Mark Zuckerberg will be played by Jesse Eisenberg.
The Social Network movie will be based on the book The Accidental Billionaires: The Founding of Facebook A Tale of Sex, Money, Genius and Betrayal by Ben Mezrich. Mezrich previously wrote a book called Bringing Down the House: The Inside Story of Six MIT Students Who Took Vegas for Millions which was made into the movie 21.
One of the sources for the book was Eduardo Saverin. Saverin was an early Facebook employee and attended Harvard University with Zuckerberg. Both Saverin and Zuckerberg supposedly joined a group called “Phoenix” at Harvard which was a secret underground fraternity-like Jewish society.
Since then Saverin and Zuckerberg have sued each other. Saverin had supposedly attempted to freeze the Facebook company account.