Eduardo Saverin Says Hello to Singapore, Goodbye to Facebook Taxes

In a move that will test your Social Network sympathy, shafted Facebook co-founder Eduardo Saverin has decided to renounce his U.S. citizenship just before that vaunted Facebook IPO and save several yachts-ful (heck, planes, too) of money. Though he isn’t listed in Facebook’s filings, his stake in the company is reportedly between two and four percent, and after its IPO that could be worth as much as $3.84 billion according to Bloomberg BusinessWeek’s Danielle Kucera, Sanat Vallikappen and Christine Harper.

RELATED: Facebook Friends for Life

By becoming a resident of Singapore, where Saverin reportedly lives like a Kardashian, the young billionaire benefits from the country’s lack of capital gains tax, which will save him from being taxed on whatever Facebook’s IPO brings. 

Views: 0

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes