The businessman’s wealth reached R$ 155.9 billion, a significant increase compared to the previous year, when his fortune amounted to R$ 83.5 billion.
Eduardo Saverinco-founder of Facebook along with Mark Zuckerberg, was listed as the richest Brazilian in history in the latest list of billionaires by Forbes magazine, published on Tuesday (28). His wealth reached R$ 155.9 billion, a significant increase compared to the previous year, when his fortune was R$ 83.5 billion.
The 87% appreciation is mainly attributed to the increase in the value of Meta shares, the parent company of Facebook, Instagram and WhatsApp. In a year, the company’s shares have increased by 78.84%, as the market has shown enthusiasm for the company’s investments in artificial intelligence.
Who is Eduardo Saverin?
Eduardo Saverin was born in 1982, in the city of São Paulo, but has spent most of his life in the United States. A Harvard graduate in economics, he met Zuckerberg at the university, where they founded Facebook together in 2004. His initial fortune came from a minority stake in the company, which has appreciated exponentially over the years.
Her involvement with Zuckerberg had its ups and downs, resulting in legal disputes highlighted in the film “The social network” (2010). Saverin, who initially financed Facebook’s operations, has been living in Singapore since 2012 after renouncing his US citizenship. Married with one son, he also heads the venture fund B Capital, which has assets of 6.5 billion dollars, focusing on investments in high-tech in Asia, Europe and the United States.
Artificial Intelligence Drives Results
The shift in focus toward artificial intelligence has been a watershed moment for Meta. After a period of uncertainty in 2022 and part of 2023 due to increased spending on metaverse and augmented reality technologies, the company has realigned its priorities, sparking growing interest from investors.
The hype around artificial intelligence has not only benefited Meta, but has also increased the value of other companies in the technology sector. Nvidia, for example, has seen its shares rise 166.35% over the year, reflecting the increase in equity. Jensen Huangwhich has grown from $21 billion to over $100 billion.
What are the future prospects of Meta?
Meta is moving towards consolidating its leadership in the field of artificial intelligence with the launch of “MetaIA”. The AI lab is expected to become one of the most widely used globally by the end of the year, directly competing with the famous ChatGPT.
Significant investments are also planned for 2025, with Meta increasing its revenue forecast for the next quarter of 2024 to $39.75 billion. The company’s net income has already grown by 73% in the second quarter of this year, reaching a total of $13.47 billion.
Could Eduardo Saverin’s Net Worth Increase?
The market has shown an increase in confidence in Meta due to its positive results and focus on artificial intelligence. The pioneering technologies that the company is developing generate expectations of sustainable growth and continuous innovation.
Furthermore “MetaIA”Meta reported a 22% increase in revenue in the second quarter of 2024, reaching $39.1 billion. Net income of $13.47 billion, a 73% increase, reflects the effectiveness of the new business strategy and contributes to the increase in wealth of the company’s executives, such as Eduardo Saverin and Mark Zuckerberg.
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Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
