Winston Churchill once said “success is not final; failure is not fatal: it is the courage that counts” The quote relates to successful minds as well as striving minds. It motivates the rich and the poor. In this case, you would read about how it relates to the rich.
If the wealthy are to remain influential, they must work to reach new heights of achievement. The subject of today’s discussion is about a man who was born into an affluent family and had access to all the comforts he required to have a carefree life. Instead, he decided to use his knowledge to make a difference in the world.
Eduardo Luiz Saverin is one of the co-founders of Facebook. He had made himself a billionaire not by inheritance, but by his contribution to the development of Facebook. Eduardo Saverin lived a life that shows that the rich also strive for success. Setting new standards never gets old, and Eduardo’s story would help you understand the concept of Winston Churchill’s words better.
Eduardo Luiz Saverin was born on March 19, 1982. He was a child born with a silver spoon, so Eduardo lacked little to nothing from birth. His place of birth was Sao Paulo, where he grew up in the house of a wealthy Jewish-Brazilian family. Eduardo was open to all the luxury he needed to start and live a good life, and he wasn’t ready to lose that chance.
Eduardo had two career choices facing him from birth. He could choose to walk on the path of his father Roberto Saverin, who was a successful businessman. He dominated sectors like real estate, energy, shipping, and clothing. Eduardo also had the option of walking the path of his mother, Sandra who was a glorified psychologist.
Even if Eduardo Saverin chose to pick a different path, he still had enough experience around him to support his craft. Now the question was, whose path was Eduardo Saverin going to walk?
Before Eduardo was old enough to make that decision, his family moved to Miami, U.S.A, in 1993. It was a new environment for Eduardo, although it didn’t really change the way he had been living in Sao Paulo
After his preparatory studies at Gulliver Preparatory School, Eduardo decided to try out Harvard University. It seemed Eduardo found an interest in economics as he took it up as a course of study at Harvard.
Eduardo was a jovial one throughout his student days. He was always busy being a part of one organization or the other. He was a member of the Phoenix S.K. Club and was also elected as president of the Harvard Investment Association.
Apart from his studies, and duties in school associations, Eduardo also had an interest in the study of the atmosphere. His knowledge of meteorology helped in the prediction of the sequential occurrence of hurricanes. Eduardo was that brilliant young man that everyone wanted in their corner.
After a successful academic run, Eduardo Saverin graduated from Harvard in 2006 with a B.A. in economics. There was no doubt that Eduardo was going into the business world immediately after getting his degree. In fact, he already had a career path before the completion of his University education.
Eduardo Saverin was really good in business and finance management. This didn’t come as a surprise, judging the fact that Eduardo had two mentors in business from a young age (His father, and his grandfather who was also a businessman back in his days).
Eduardo’s path for a good business journey was already in motion, till he came across a diversion during his early days at Harvard. Eduardo Saverin met Mark Zuckerberg in his second year at Harvard. They both recognized their connection and became friends who shared a common goal, and that goal was to be successful.
Before Eduardo Saverin met Mark, he already had a passion for using his knowledge and skill to help out others. Since he came from a wealthy family, his ideology wasn’t based on profits. Instead, he was thinking about how he could further contribute to societal growth.
Social network websites were growing among the student of Harvard at a rapid rate at that time. Eduardo and Mark saw the mastermind potential in starting a company that had better features and interface than other social networking websites, and they weren’t ready to lose that opportunity.
Eduardo, Mark, and some other team members sat together for hours each day to set up the plan for this project. After many test runs, they finally settled on a plan they thought was the best.
In 2004, Eduardo Saverin, Mark Zuckerberg, and other minds that were involved in the project came together to form a promising social networking website called THE FACEBOOK.
Eduardo and Mark saw promising potential at the early stage of the project.
This was when they both decided to invest $1,000 each to the foundation of The Facebook, just to give it a kick start. After their $1,000 experiment, they saw that more investments would increase the potential of the site. So Eduardo and Mark dropped another investment of $18,000 to further develop the site.
Eduardo was able to use his knowledge of business to steer Facebook on the right path financially. He later took charge of the position of Chief Financial Officer and Business Manager in the company.
Facebook became a worldwide accepted website, and the investment Eduardo, Mark, and other team members had put in the brand at an early stage brought them huge returns than they would have ever imagined
Everything was going well for Eduardo and Facebook till there was a fallout between Mark, Eduardo, and the company in 2012. This event eventually led to Eduardo leaving the company, but that was not all for Eduardo.
After Eduardo’s exit from Facebook, he continued on his entrepreneurship journey using his experience and business talent. He founded an investment company called B Capital with Raj Ganguly in 2015.
At this point, Eduardo’s vision was to run a transparent investment company that would help start-up foundation achieve their dreams. After a successful breakthrough in his early career days, he was also passionate about seeing others succeed.
• Eduardo’s company has successfully invested in sectors like fintech, health tech, bio IT, enterprise technology, and consumer enablement.
• The company had an initial capital commitment of $360 million and a second capital investment of $410 million.
• B Capital now has a $6.5 billion investment fund in assets under its management.
• In 2022, the company has raised $250 million to invest in start-up companies.
According to Forbes, Eduardo Saverin has a net worth of $7.9 billion.
This makes him one of the richest in Singapore after renouncing his U.S citizenship in 2012. Although Eduardo had not gone through so many emotional hurdles, he still worked hard to achieve success.
Eduardo’s values and attitude toward his goal reveal to us some values we can emulate.
• Engage in something you are 100% passionate about. Do not burn out yourself trying to go after the trending prospect. Apart from the reduced possibility of succeeding at something you are not good at, it would also leave you discouraged as time goes on.
• If you don’t have doubts about your dream, then you aren’t pushing far enough. If your dream doesn’t scare you, it is definitely not big enough. It’s a normal feeling to be overwhelmed by your passion. It means you have a fantastic idea already, all you need to do is push hard toward the dream.
• Do not think about the quickest way to be a successful entrepreneur. Rather, think about how you can build something that would be relevant to the lives of people. The world is developing fast, and there are new problems that rises every day. Your main idea should be wrapped around how these problems would be solved.
• Shove away the fear of execution. Don’t hide that idea forever; let it out. There might be many fears hovering around your head. “What if I fail? What if I get rejected? What if my idea isn’t considered relevant?” These questions only eat up your confidence and passion. Instead of bothering so much, why not try to execute?
Eduardo Saverin upheld the legacy of his family, and also made himself into a business icon. Although there were a lot of controversies surrounding his departure, Eduardo Saverin did not let that interrupt his progressive good work in the technology and business world.
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