This is the idea that Ceglia, owner of a wood pellet fuel company, put forward in a complaint filed last July. In the lawsuit, he claimed that He and Zuckerberg had an agreement in which Ceglia would receive 50% of Facebook for an investment of $1,000, in addition to 1% of the company each day, until a site called “the facial book” was completed. As the project was supposedly 34 days late, Ceglia says he was entitled to 84% of the company. During his junior year at Harvard, Saverin met Mark Zuckerberg, a Harvard student. When they noticed the lack of their own social networking site for Harvard students, they worked together to launch The Facebook in 2004. They agreed to invest $1,000 in the site. Subsequently, Zuckerberg and Saverin agreed to invest an additional $18,000 in the deal.  As co-founder, Saverin was CFO and Business Manager.  On May 15, 2012, Business Insider received and published an exclusive email from Zuckerberg explaining how he cut Saverin off from Facebook and watered down his share.  Zuckerberg then explained privately: “Eduardo refuses to cooperate…
We must now, in principle, declare our intellectual property to a new company and simply take legal action… I`m just going to cut him up and retire with him. And he`ll have something, I`m sure, but he deserved something… He has to sign things to invest, and he`s lagging behind, and I can`t accept that delay. Zuckerberg`s lawyer warned Zuckerberg that dilution could trigger legal action for breach of trust obligation. Facebook filed a complaint against Saverin and argued that the share purchase agreement signed in October 2005, Saverin, was not valid. Saverin then filed a complaint against Zuckerberg and claimed that Zuckerberg had spent Facebook`s money (Saverin`s money) on personal spending over the summer.  In 2009, both appeals were resolved outside the court. Terms of the transaction were not disclosed and the company confirmed Saverin`s title as co-founder of Facebook. Saverin signed a confidentiality agreement after the agreement.   Sean Parker injured Eduardo by refusing to sign the updated agreement on the shares. He said he`d sign it.
He asked the security guards to show Eduardo. He tried to make the $19,000 Eduardo invested on Facebook. So Eduardo, furious, left the scene. We love e-mail because it`s an artifact of a young Mark Zuckerberg, a man who has grown up a lot since writing and who will be in our lives for a very long time. Meanwhile, Zuckerberg was deeply into the development of TheFacebook.com. Between November and 2003 and February 2004, he contacted the twins through a series of 52 emails and several face-to-face meetings. Zuckerberg launched TheFacebook.com in February 2004 and two days later, the Winklevosses learned from the side in The Harvard Crimson. A few days later, the Winklevosses and Narendra Zuckerberg sent a letter of omission. Saverin eventually sued Facebook for violating the duty of trust. Facebook and Saverin settled down, and he left with 4% or 5% of the company.
This bet is now worth close to $5 billion. In an interview with a magazine at his family`s home in Brazil, Saverin – a billionaire new to Facebook`s IPO – spoke about his taxes, his relationship with co-founder Mark Zuckerberg and life after “The Social Network.” Since the creation of B Capital in 2015, Saverin and his partner Raj Ganguly have been working to make available their first $360 million technology fund (Saverin was placed before an undisclosed part of this fund), guided by a shift in the traditional approach to business creation.