Saturday, 12 May 2012

Facebook CoFounder Saverin Gives Up US Citizenship Before IPO

Eduardo Saverin, the billionaire co- founder of Facebook Inc., 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...

Saverin, 30, joins a growing number of people giving up U.S. citizenship, a move that can trim their tax liabilities in that country.


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