Facebook’s Saverin Jackpot: His $30,000 Savings Into Facebook Becomes $3 Billion Tomorrow

Posted on May 17 2012 - 7:07pm by Editorial Staff

With Facebook likely to set its share price value final at $38 per share, bringing the valuation to $104 billion, what not to forget is social giant’s co-founder Eduardo Saverin who among the other shareholders become a billionaire tomorrow, told Bloomberg that he never believed that his $30,000 investment will results in making $3 billion for him.

“Something I would’ve never imagined was when I put all my life savings into the company, that it would have been an IPO at this level,” Saverin said by phone from his home in Singapore told the publication. “You never imagine that $30,000 accumulated through your life, through gifts and birthday parties and other events, and investing it in the company would create this type of returns.”

Saverin owns about 4 percent of the company, although he declined to discuss his percentage, the valuation, or how much tax he will save by dropping U.S. citizenship, which according to recent news suggests would be around $67 million. While, as per stats his stack might be worth $2.89 billion as per the company’s 1.9 billion total share outstanding with the IPO.

(Image Source: Main)

About the Author

Editorial Staff at I2Mag is a team of subject experts.