A Facebook Founder Renounces His U.S. Citizenship

He declined to say exactly what simplifications the impending billionaire would enjoy, other than the financial ones. The revelation of the renunciation, published by the State Department at the end of April and reported by Bloomberg News earlier on Friday, comes just days before Facebook is expected to go public.

Eduardo Saverin, co-founder of Facebook, at an event in New York last year.

Eduardo Saverin, one of the founders of Facebook, officially defriended the United States in September, giving up his American citizenship for the more tax-friendly residency status of Singapore.

Mr. Saverin, who was born in Brazil and has lived in Singapore since 2010, plans to remain in the Asian island nation indefinitely. Singapore has a maximum personal income tax rate of 20 percent and no taxes on capital gains. He gained American citizenship in 1998.

A spokesman for Mr. Saverin insisted his client did not renounce his citizenship for financial reasons. “I have worked with him for over a year, and that never came up,” said Tom Goodman, the spokesman. “Obviously, it was a big decision, but he’s making all these investments in Europe, Asia and the U.S. It just seemed a lot simpler.”


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