Social media enthusiasts have been all a-Twitter about Facebook heading into an IPO that could be valued around $1 billion US dollars. While Facebook founder Mark Zuckerburg is often in the social media spotlight, co-founder Eduardo Saverin has been living in Singapore as an investor who’s been doing more partying than he has investing.
Many only know Saverin as the shy, intelligent co-founder of Facebook portrayed by Andrew Garfield in The Social Network. In the film, Saverin was ultimately defriended on a much larger scale and forced out of Facebook by Zuckerburg, portrayed by Jesse Eisenberg. Recently, it was announced that Brazilian-born Saverin will be renouncing his United States citizenship – a move that will save him from paying an estimated $67 million dollars in taxes once Facebook launches its IPO on Friday.
On Tuesday, Saverin’s New York-based spokesperson, Tom Goodman, released a statement claiming that “Eduardo recently found it to be more practical to become a resident of Singapore since he plans to live there for an indefinite period of time.” Goodman explained that due to the fact that Saverin plans to invest in Brazilian and global companies that have strong interests in entering Asian markets, “it made the most sense for him to use Singapore as a home base.”
Saverin’s decision to renounce his citizenship strikes a chord with many Americans, creating an “It’s Complicated” relationship, with many judging his choice. The Harvard graduate turned entrepreneur has been racking up a reputation as a playboy partier since moving to Singapore in 2009. In light of that fact, one has to wonder – will the money saved in taxes spur Saverin to invest in more start-ups, or will he soup up the Bentley and rack up an even bigger bar tab?
Related articles
- Facebook Co-Founder Eduardo Saverin Renounces US Citizenship Before IPO (prweb.com)
- Facebook co-founder Saverin may avoid $67 million in U.S. taxes (cbsnews.com)
- Facebook co-founder Eduardo Saverin renounces American citizenship (economictimes.indiatimes.com)
- Renouncing citizenship: Did Eduardo Saverin do anything wrong? (economist.com)
- Saverin relinquishes US citizenship ahead of Facebook IPO (dawn.com)
