'No hard feelings' towards Mark Zuckerberg, says ousted co-founder

Posted by Staff on 2012-05-29 02:33:00 | Views: 47 |

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'No hard feelings' towards Mark Zuckerberg, says ousted co-founder

In The Social Network, Mr Saverin was portrayed by the British actor Andrew Garfield. The took place after the engineering side of fledgling firm moved to Silicon Valley, leaving Mr Saverin on the East Coast trying to drum up advertising.

In the meantime Mr Zuckerberg and Sean Parker, an early investor and Facebook’s first president, decided to restructure the firm’s shares in a way that dramatically diluted Mr Saverin’s stake. His subsquent lawsuit was eventually settled out of court and he walked away with five per cent of Facebook and the right to call himself “cofounder”.

But these events were given a few Hollywood touches in The Social Network, Mr Saverin told Veja.

“That’s Hollywood fantasy, not a documentary. Facebook wasn’t built out of a Harvard dorm window.

“And I would never throw a laptop at someone, like it appears in the movie. Not even at Mark.”

Mr Saverin now lives in Singapore, and recently renounced his American citizenship, Facebook’s lucrative flotation. He defended the move, insisting that he still had large US tax obligations.

“The decision was strictly based on my interest of living and working in Singapore,” Mr Saverin said.

“I am obligated and I will pay hundreds of millions of dollars in taxes to the American government. I already paid and I will keep paying whatever taxes I owe based on my time as a US citizen.”

His father told Veja the decision was provoked by bureaucracy in Singapore that makes financial transactions difficult for US citizens. Mr Saverin, whose Facebook stock is currently worth $1.75bn, now invests in internet start-ups.

“I am investing like a crazy person, mostly in internet start-ups,” he said.

“And I want to invest in Brazil as well, because I am Brazilian and that’s in my heart.

“I believe there’s a new Facebook out there to be found. Where? My guess is in healthcare.”

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