In a remarkable philanthropic gesture, Eduardo Saverin, co-founder of Facebook, has donated S$20 million (approximately US$15.5 million) to the Singapore American School (SAS), marking the largest donation in the school's history [e9b0d0f3]. Located in Woodlands, Singapore, SAS charges an annual tuition fee of up to US$47,000 and had an enrollment of 4,100 students in 2023, with more than half being US citizens [e9b0d0f3]. This substantial donation will be allocated towards the development of new laboratories, the establishment of a junior school, and enhancements to the school's Chinese immersion program [e9b0d0f3].
Saverin, who has been a resident of Singapore since 2009 and renounced his U.S. citizenship in 2010, is recognized as the wealthiest individual in Singapore, with a net worth estimated at around US$30.5 billion, primarily from his 2% stake in Meta Platforms [e9b0d0f3]. This contribution not only underscores Saverin's commitment to education but also reflects the growing trend of wealthy individuals in Singapore investing in local educational institutions as part of their philanthropic efforts [b81fbf0b].
As of September 2024, Singapore's top 10 richest individuals collectively hold a net worth of S$150 billion (approximately US$112 billion), with Saverin leading the list. The surge in wealth among Singapore's elite is indicative of the country's robust economic growth and its status as a global business hub [b81fbf0b]. Saverin's donation to SAS is a significant addition to this narrative of wealth and philanthropy in Singapore, highlighting the intersection of wealth accumulation and social responsibility [b81fbf0b].