SINGAPORE — The family of billionaire Eduardo Saverin, co-founder of Facebook, has made a historic $20 million donation to the Singapore American School (SAS), the largest gift the school has ever received. The donation will support various improvements, particularly in enhancing educational infrastructure and programs.
The announcement was made by Tom Boasberg, the school’s superintendent, in a weekly email sent on September 20, 2024, describing the Saverin family gift as having a “transformative” impact on the school. The donation will primarily fund the development of STEM labs, world-class play spaces, and improvements to the school’s elementary school, currently under construction.
Additionally, the donation will aid the expansion of SAS’s Chinese immersion program and other strategic initiatives aimed at enhancing the overall student experience. These improvements will benefit the school’s students, who range from pre-kindergarten through high school.
In a statement, Elaine Saverin, wife of Eduardo Saverin, expressed the family’s desire for the donation to benefit current and future students. She emphasized that the gift is a meaningful way for their family to contribute to the institution that has played a significant role in the community.
Eduardo Saverin, born into a wealthy Brazilian family, moved to Singapore in 2009 and renounced his U.S. citizenship in 2011, just before Facebook’s initial public offering (IPO). Despite stepping away from the company, Saverin’s wealth, valued at approximately US$30.5 billion (S$39.4 billion) according to Bloomberg, remains tied to his holdings in Meta Platforms, Facebook’s parent company.
Founded in 1956, SAS serves approximately 4,000 students on its expansive Woodlands campus. The school is well-known for its high tuition fees, with current high school students paying around $49,000 per year, excluding transportation and other costs.
This generous donation from the Saverin family marks a significant moment for SAS, enabling the school to further its mission of providing world-class education and resources to its diverse student body.
