It seems that Facebook co-founder and billionaire Eduardo Saverin is putting the money he saved by denouncing his U.S. citizenship to use in an elaborate multi-million dollar wedding to Miss Singapore Universe 2009 Rachel Kum. Saverin was highly criticized for denouncing his U.S. citizenship in what many considered a financial move. It was noted that Saverin saved approximately $700 million in taxes by moving his citizenship to Singapore. However, it seems Saverin is ready to spend some of those savings, as he has rented out the entire 74 rooms and suites at the Grand-Hôtel du Cap-Ferrat Four Seasons on the Cote d’Azur to marry the beauty queen.
The Daily Mail reports that the big ceremony will take place on June 27 along the French Riviera. The wedding will cost millions, and it seems that no expense will be spared in creating the perfect day for future bride, Rachel Kum. It is noted that the billionaire and his future wife will fly in family and friends for the wedding. However, the wedding is taking place when many of Saverin’s tech friends will already by in Cannes that week for the annual Cannes Lions Festival of Creativity. Therefore, we can expect to see numerous big tech names at the big event.
Though Saverin is known for his role as co-founder of the popular social media giant Facebook, Rachel Kum has accolades of her own. Kum holds a finance degree from the University of Western Australia and worked at a hedge fund prior to competing in the Miss Singapore Universe pageant. After her success in the Miss Universe pageant, receiving the Miss Personality and Miss Body Beautiful awards, Kum started her own cosmetics company called Rachel K Cosmetics. The company was backed by her future husband, Eduardo Saverin.
Saverin made a highly public exit from Facebook after a lawsuit was filed against his former friend and co-founder, Mark Zuckerberg. Saverin claimed that after he exited the company, his shares in the stock were diluted. However, a settlement in the case was met outside of court and the details have remained private. The tumultuous relationship of Zuckerberg and Saverin was documented in the movie, The Social Network, but Saverin says he “only has good things to say about Mark.”
“I have only good things to say about Mark, there are no hard feelings between us. His focus on the company since its very first day is anything short of admirable. He was a visionary, he always knew that the only way for Facebook to grow was to maintain its central idea, that of people truly presenting themselves as they are, without nicknames or pseudonyms.”
However, there is no word on whether or not Mark Zuckerberg has been invited to the wedding. What do you think about the multi-million dollar wedding of Eduardo Saverin and Rachel Kum?
[Image Credit: Facebook]