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Thread: Face book founder ditches US citizenship before IPO to avoid taxes.

  1. 05-11-2012 #1
    shermbodius
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    Default Face book founder ditches US citizenship before IPO to avoid taxes.

    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.


    http://www.bloomberg.com/news/2012-0...efore-ipo.html
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  2. 05-11-2012 #2
    FlintHillBilly
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    Facebook debut is going to flop.

    I could care less if this guy drops his citizenship, atleast he will still pay some taxes.
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  3. 05-11-2012 #3
    seraosha
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    How dare a Brazilian living in Singapore give up his US citizenship before getting hit with taxes on 3.84 BILLION.
    Click image for larger version.  Name: mooimagoat_fullpic_artwork.jpg  Views: 41  Size: 23.6 KB  ID: 179191
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  4. 05-11-2012 #4
    Aerosoul
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    A 30-year old Jewish Brazilian billionaire who lives in Singapore.
    That's called a business move.
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  5. 05-11-2012 #5
    shermbodius
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    Where is the "stick it to the rich crowd" on this?
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  6. 05-11-2012 #6
    Aerosoul
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    Quote Originally Posted by shermbodius View Post
    Where is the "stick it to the rich crowd" on this?
    Maybe the pre-emptive posts above will keep them away. Sorry.
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  7. 05-11-2012 #7
    seraosha
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    Quote Originally Posted by shermbodius View Post
    Where is the "stick it to the rich crowd" on this?
    dunno...maybe occupying a wendy's for lunch?
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  8. 05-11-2012 #8
    danielc
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    Well, he was not born in the US, nor does it seem like he lives there anymore, so no very deep emotional ties to the country. Money talks baby!!!
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  9. 05-11-2012 #9
    shermbodius
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    Quote Originally Posted by seraosha View Post
    dunno...maybe occupying a wendy's for lunch?
    Too busy with Angry Birds?
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  10. 05-11-2012 #10
    SBL
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    Why Singapore, I wonder? I thought it was no longer considered a tax haven.
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  11. 05-11-2012 #11
    custodes
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    Quote Originally Posted by SBL View Post
    Why Singapore, I wonder? I thought it was no longer considered a tax haven.
    Enjoys corporal punishment?
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  12. 05-11-2012 #12
    SBL
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    Haha, maybe.
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  13. 05-11-2012 #13
    LineDoggie
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    He loves the Caaaane........
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  14. 05-11-2012 #14
    California Joe
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    Unless he broke the law, I don't see an issue. The cat is obviously an international man of mystery.
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  15. 05-11-2012 #15
    Euroamerican
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    It would be more delicious if he had voted for Change. But, I have a feeling he is the more conservative one in the Facebook bunch.

    Personally, I think it is a smart business move. And, he's only a US citizen by being brought in while he was a child by his parents.
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