Eduardo Saverin, co-founder of Facebook, has made a landmark donation of S$20 million (RM65 million) to the Singapore American School, the largest gift in the institution’s history. The announcement of the donation was made by the school this week.
The funds, contributed by Saverin and his wife Elaine, will support the development of state-of-the-art play areas, cutting-edge STEM laboratories, and various enhancements at a new elementary school currently being constructed. Singapore American School Superintendent Tom Boasberg highlighted in a weekly email that the Saverin family’s gift will significantly impact the school’s facilities.
In addition to these improvements, the donation will also fund a Chinese immersion programme and other strategic initiatives. Boasberg noted that the contribution is expected to have a “transformative” effect on the school’s future.
Elaine Saverin expressed her hope that the gift would benefit both current and future generations of students. “This is a significant and meaningful way for our family to demonstrate our commitment to the school,” she remarked in the announcement.
Saverin, who co-founded Facebook in 2004 alongside Mark Zuckerberg, Dustin Moskovitz, and Chris Hughes, moved to Singapore in 2009. He renounced his US citizenship in 2011, just before Facebook’s initial public offering. According to Bloomberg, his wealth is primarily linked to his holdings in Meta Platforms Inc, with an estimated net worth of US$30.5 billion (RM128 billion).
Founded in 1956, the Singapore American School serves approximately 4,000 students and charges around S$49,000 annually for high school students.
