Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO - AOK or GTFO?
ServantOfAllah
2012/05/12 15:43:58
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Eduardo Saverin, the billionaire co- founder of Facebook Inc. (FB), renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill.
Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in history for an Internet company. Saverin’s stake is about 4 percent, according to the website Who Owns Facebook. At the high end of the IPO valuation, that would be worth about $3.84 billion. His holdings aren’t listed in Facebook’s regulatory filings.
Saverin, 30, joins a growing number of people giving up U.S. citizenship, a move that can trim their tax liabilities in that country. The Brazilian-born resident of Singapore is one of several people who helped Mark Zuckerberg start Facebook in a Harvard University dorm and stand to reap billions of dollars after the world’s largest social network holds its IPO.
Read More: http://finance.yahoo.com/news/facebook-co-founder-...
OXYGEN! YOU CAME to the USA as a refugee, lived in safe haven, had an AMERICAN
EDUCATION, made your BILLIONS on AMERICAN's SOIL. NOW, YOU'RE A MULTI-
BILLIONAIRE and YOU RENOUNCED your US Citizenship to EVADE TAXES. YOU'RE
A FILTHY INGRATE. G.T.F.O.! GOOD RIDDANCE! GO STRAIGHT TO INFERNUM!
internet entrepreneur and investor. Saverin is one of four co-founders of
Facebook.com, along with Mark Zuckerberg, Dustin Moskovitz, and Chris Hughes.
As of 2012, he owns less than 5% of Facebook's shares and has a net worth of
$2 billion, according to Forbes. He has also invested in early-stage startups
such as Qwiki and Jumio.
and was raised in Miami, Florida. Eduardo's father was a Brazilian industrialist
working in export, clothing, shipping, and real estate.
By 1993, Saverin's father had become wealthy, and in 1993 it was discovered
that his son Eduardo´s name had been placed on a list of kidnapping victims
by gangs specializing in kidnapping for ransom. As a result, the family moved
to Miami to find a safer place to live. Saverin attended Gulliver Preparatory
School in Miami, and went on to Harvard University, where he was a member
of the Phoenix S.K. Club as well as president of the Harvard Investment
Association. Saverin has lived in Singapore since 2009. In September 2011,
he renounced his U.S. citizenship before the Facebook IPO; the citizenship
change may reduce the capital gains taxes Saverin pays after the IPO,
although his taxes may increase initially.
We don't need traitorous bastards. If he leaves even a dime behind, seize it for the public coffers, and send him a thank you note.