Topics

Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO

Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO

2012-05-11
Source: Bloomberg


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.

 

Eduardo Saverin, co-founder of Facebook, in New York City. Photographer: Jason Kempin/Getty Images for Common Sense Media

Saverin, 30, joins a growing number of people giving up U.S. citizenship, a move that can trim their tax liabilities in that country. The Brazilian-born resident of Singapore is one of several people who helped Mark Zuckerberg start Facebook in a Harvard University dorm and stand to reap billions of dollars after the world’s largest social network holds its IPO.....





Popular Posts

Previous


  • 2013-04-27
    Jynx Maze in a Red Bikini


  • 2013-04-27
    Miranda Kerr’s Ass


  • 2013-04-27
    Epic New Irina Shayk Beach Bunny Bikini Pictures


  • 2013-05-11
    Aikido Steven Seagal - The Path Beyond Thought


  • 2013-05-11
    2 Living ETs Working with US Government
Next

Related Posts

Like us on Facebook

Elsewhere in DazeNews

Like us on Facebook
1 1 1 1 1 1 1 1 1 1
Copyright © 2012 Dazenews.com
Share