Facebook co-founder Eduardo Saverin gifts Singapore school $15M

By Dat Nguyen September 22, 2024 | 09:03 pm PT

Facebook co-founder Eduardo Saverin (L) and his wife Elaine (R) attend an event in Singapore on May 26, 2016. Photo by AFP

The family of Facebook co-founder Eduardo Saverin has made a SGD$20 million (US$15.5 million) donation to the Singapore American School.

This is the biggest donation the school has ever received, the school’s superintendent Tom Boasberg wrote in a recent email as reported by Bloomberg.

The school plans to use the gift for the development of play spaces and STEM labs and other improvements at a new elementary school which is under construction.

Saverin’s wife, Elaine Saverin, said in a statement that she hoped the donation was "a significant and meaningful way for our family to demonstrate our commitment to the school."

Saverin moved to Singapore in 2009 and renounced his U.S. citizenship two years later.

He has a net worth of over $30 billion, mostly because of his holdings in Meta Platforms. His wealth has risen 57% this year thanks to the surge of Meta shares.

The Singapore American School, founded in 1956, has around 4,000 students in the city-state’s northern Woodlands neighborhood.