Eduardo Saverin, one of the four multi-billionaire founders of Facebook, has renounced his US citizenship in a move that could save him millions of dollars of tax ahead of the planned flotation of the social network, it has been reported.
An upcoming Initial Public Offering (IPO) is thought to give Facebook a value of $96 billion, of which Saverin owns 4%.
Tom Goodman, a spokesman for Saverin, told Bloomberg that: “Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time." Full story...
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An upcoming Initial Public Offering (IPO) is thought to give Facebook a value of $96 billion, of which Saverin owns 4%.
Tom Goodman, a spokesman for Saverin, told Bloomberg that: “Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time." Full story...
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