Facebook Co-Founder Renounces US Citizenship; Likely, to Reduce Paying Exorbitant Taxes


Facebook co-founder Eduardo Saverin’s name appears on the Internal Revenue Service’s quarterly list of people who chose to give up their U.S. citizenship as of April 30. Renouncing his citizenship could potentially save Saverin millions of dollars in taxes on his 4 percent stake in Facebook when the company goes public later this month.

Saverin, the Brazilian-born Harvard classmate of Facebook CEO Mark Zuckerberg who was portrayed by Andrew Garfield in the 2010 film “The Social Network” and who became a U.S. citizen in 1998, remains a citizen of Brazil and a resident of Singapore.

“Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,” said Tom Goodman, a spokesman for Saverin, in a statement.




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23 comments on “Facebook Co-Founder Renounces US Citizenship; Likely, to Reduce Paying Exorbitant Taxes
  1. Emi says:

    There seems to be little concrete information on Saverin’s reason for giving up citizenship, but it’s likely related to the US being one of the only countries in the world to tax citizens who live abroad. I think the US should bring its laws in line with other countries and only tax actual residents.

    • Observant_One says:

      As an American citizen, if you make the money here you pay the taxes here, regardless of where you live. Of course if you prefer the the way it’s done in other countries, perhaps you need to give up your American citizenship, and join one of these other countries of this world.  Seems like a simple choice.

  2. Noob says:

    Facebook is a fine place……..to be spied upon by Nappy and her goons.

    • Krazeehors says:

      Yep, if you want everyone to know your business.  However, at $1 a share, it WOULD be a good “in your face” investment — to prove to Obummer and his ilk that even his “ordinary Americans” aren’t as stupid as he thinks we are!!  (sarcasm)

  3. jong says:

    Of course however you  have a exit tax.   So we will get something and hopefully this stock will crash to $1 after he has paid taxes on it at $40 dollars a share.

  4. sean murry. says:

    I wouldnt buy facebook stock it is too risky and if he wants vto go to another country dont let the door hit you in the rear.

  5. Spenserr says:

    I cancelled my facebook account well over a year ago, the government uses it to make dossiers on Americans. The mine info from there all the time. Not to mention the fact I read a story at WND about facebook allowing pedophiles to network there.

    • Big Mac says:

      Note, I to cancelled my facebook account,but they did not shut my profile down,my wife is on facebook and she told that my profile is still there and I have try to login back in and being stop, so if I was you and you know someone who still on there to check, beg that you still there!

  6. ONTIME says:

    Committed to the bucks but unlikely to express any gratitude toward the country where the pursuit of happiness is a Constitutional right……sounds a lot like a OW.

  7. TOO INFORMED says:

    That dirty filthy muslim cockroach Yobummer hides again when the light is shined on him.  Question:  Why is Congress and the Senate so afraid of the Demander-in-Thief?

  8. William says:

    Ok close out your facebook account-the greedy foreigner!

  9. Ginger says:

    Where is the outrage from the ows folks?? This guy made him $$ here and doesn’t want to “pay his fair share”..must be an obama supporter and has the sense to flee with his $$$.

  10. Samtman says:

    Hey, so did Bachman, she could have run for Prime Minister of Switzerland on the TP ticket, the Swiss  love their national health care program, everybody is on it, what a concept.

  11. Samtman says:

    Hey, so did Bachman, she could have run for Prime Minister of Switzerland on the TP ticket, the Swiss  love their national health care program, everybody is on it, what a concept.

  12. Jody L says:

    I am surprised that Obama doesn’t live in Singapore.  You know like Nero fiddling.

  13. Dan Cooper says:

    can’t blame saverin . . . obama and the donkey party dolts in congress would merely tax it to buy the votes of their base of takers.

  14. It’s a preview of what more and more of the ‘evil rich’ can and will do under 0bama’s ever increasing tax structure. Leave. Unfortunately, they take their money with them. Billions.  Watch them leave by the hundreds from France and their new socialist hero they’ve just elected, who promised them more freebies and to tax the rich at 75%! In the meantime, havens like Singapore and Switzerland thrive and boom, full of the wealthy that have taken advantage of a favorable tax situation.
    Gonna get that bad here, if he’s reelected. Click the name.

    • Dingbat36 says:

       France’s new socialist leader, Francois Hollande, is a very, very wealthy man. Far more so than Sarcosy and what do you wager that Hollande has all of his money quite “sheltered” from the draconian grabs he plans for the peasant’s money.  This is typical of all socialists and communist rulers, give ‘em an inch and they’ll take the whole yardstick!!

  15. Rick Baldwin says:

    The man ain’t stupid. Certainly not as stupid as the fools that will buy the Facebook IPO.