Saverin's Facebook stake worked out fair: math says ~3-4% at IPO was about right
NathanpmYoung · x · 2026-10-20
NathanpmYoung argues The Social Network's portrayal of Zuckerberg was unfair, but the equity actually worked as it should: Saverin was a bad cofounder yet did put in money, so his final stake was roughly deserved.
The attached math:
- Money: Saverin put in $15–20k; at Thiel's valuation ($500k for 10%), that's 0.3%, or under 0.2% after dilution.
- Founder vesting: He started at 30–34% but was never full-time and was out within a year (also froze the company bank account). A standard 4-year schedule would earn him 8–10%, or 4–5% after dilution.
- Outcome: 3–4% at IPO, roughly fair; the 2005 cut to 0.03% was the actually unfair move.
- A claim that Saverin invested $500k is wrong — that was Thiel's money.
Equity table: Zuckerberg 65%→24% pre-IPO, Saverin 30%→4–5%, Moskovitz 5%→6–7.5%.
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