The Facebook movie titled “The Social Network” is a box office hit depicting the story behind the creators of the largest website now on the entire internet. It’s a superb motion picture and I recommend that everyone see it if you haven’t already.
The beginning of the movie unravels with a bunch of college friends drinking and partying in a dorm, including co-founders and then best friends Mr. Zuckerberg and Eduardo Saverin. A day prior, Zuckerberg says the wrong things on a date with his girlfriend for lunch and she dumps him on the spot.
Meanwhile, Saverin is making his moves up the ladder to be invited the special club houses. In particular, he is accepted into the most prestigious of them all. Zuckerberg is jealous deep down, and begins blogging about a new website he is working on. First it was farm animals, then rating women, and eventually The Facebook.
However, his idea for the website didn’t come entirely on his own. Mark met with two athlete twin brothers in the Winkelvoss family who had an idea to start a “Harvard Connect” that would be exclusive to Harvard students because Harvard chicks want to get with Harvard guys…
Mark doesn’t tell Eduardo, his soon partner, financial backing, and CFO any of this. He simply launches The Facebook and it is so successful that the servers on campus at Harvard crash. As time goes on, the word “the” gets dropped and a start up in Palo Alto, California slowly becomes the monster that we know now today as just Facebook.
The movie is told as a flash back from the court rooms in which the settlement is taking place. Eduardo Saverin as well as the Winkelvoss twins are both present. The Winkelvoss twins are able to prove enough to each receive $65 million for their contribution to the idea that is now Facebook.
Eduardo Saverin is now 5% owner of Facebook publicly. Co-founders of Napster and Paypal named Sean Parker and Peter Thiel respectively own 4% and 3%. The details to Saverin’s settlement are not fully known as he signed a non-disclosure agreement. His net work today is over $2 billion, with over $1 billion coming from his ownership share in Facebook.
Zuckerberg owns 24% of Facebook and fellow founder Dustin Moskowitz owns 6%. The rest of the company is now owned by investors, celebrities, ex-employees, current employees, and a hand ful of key company holders who bought in early into the success of Facebook after Thiel and Parker did.
The cost of dropping “the” from thefacebook.com? Six figures. Reportedly, Facebook.com was purchased in 2005 for $200,000. The movie outlines Sean Parker’s big contribution to Facebook as his advice to the group to drop “The” from the name. Zuckerberg’s net worth is over $7 billion. He was recently interviewed on 60 minutes and questioned the accuracy of the movie.