Some friend you are!
Facebook co-founder Eduardo Saverin apparently doesn’t want Uncle Sam in his life any more — after picking up a Harvard degree and making billions of dollars helping Mark Zuckerberg bring the social networking giant to life.
Saverin has renounced his US citizenship and has relocated to Singapore — all apparently to avoid paying any future capital gains taxes on his $4 billion stake in Facebook.
The move came sometime last September but was first widely reported yesterday, just a week before Facebook is expected to start trading publicly.
Saverin’s passport burning differs only by 180 degrees from Zuckerberg’s — who will sell 2 million Facebook shares to pay a reported $1 billion tax bill.
Facebook co-founder Eduardo Saverin apparently doesn’t want Uncle Sam in his life any more — after picking up a Harvard degree and making billions of dollars helping Mark Zuckerberg bring the social networking giant to life.
Saverin has renounced his US citizenship and has relocated to Singapore — all apparently to avoid paying any future capital gains taxes on his $4 billion stake in Facebook.
The move came sometime last September but was first widely reported yesterday, just a week before Facebook is expected to start trading publicly.
Saverin’s passport burning differs only by 180 degrees from Zuckerberg’s — who will sell 2 million Facebook shares to pay a reported $1 billion tax bill.
