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Facebook Co-Founder Denounces U.S Citizenship

Celebrity Gossip

Facebook Co-Founder Denounces U.S Citizenship

eduardo saverin facebook co founder denounces us citizenship

May 12, 2012 – Facebook Co-Founder Denounces U.S Citizenship

In order to avoid huge tax payment, the co-founder of popularly social network, FacebookEduardo Saverin has denounced his U.S Citizenship. This move comes ahead of the social network’s initial public offering.

Brazilian-born Saverin, has a stake of four per cent in the social network company, and by denouncing his U.S. citizenship, he could lower his tax bill on the payout as he now lives in Singapore, which does not have a capital gains tax.

If he were to be a U.S citizen he will be paying almost $1.2 billion in taxes on the $3.84 billion at 30% capital gains tax but with his current move, he might end up paying less than $400 million.

This man is smart!

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6 Comments

6 Comments

  1. ken

    May 12, 2012 at 11:02 AM

    Money matters

  2. Friday Idoko

    May 12, 2012 at 6:13 PM

    wat a smart guy! Wat do u want him to do wen we d user dont pay anytin. Dat is d always he should gan his money, my guy i lyk ur way

  3. Innocent

    May 14, 2012 at 7:54 AM

    Smart people never loss my guy kept it up

  4. Wakakao

    May 14, 2012 at 1:32 PM

    Dis guy na sharp guy, e be lyk sad him fada na 9ja man

  5. Messej

    May 16, 2012 at 4:15 AM

    WHY IS IT THAT EDUARDO AND MARK ZUCKERBURG DON’T FEEL THEY OWE AMERICA ANYTHING FOR AFFORDING THEM THE EDUCATION, PROTECTION AND OPPORTUNITY TO BECOME BILLIONAIRES? THESE GUYS ARE NOT SMART….THEY ARE JUST GREEDY AND SELFISH. I WONDER IF THEY WILL BE ABLE TO DEAL WITH THE SECOND AND THIRD ORDER OF EFFECTS WHEN MILLIONS OF PEOPLE DELETE THEIR FACEBOOK PAGES.

  6. klinsman

    May 16, 2012 at 8:03 AM

    friday, who told u that u are nt paying 4 using facebook. Wel, h dnt blame the guy shea, he is rily smart

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