By Kevin McCauley
Goodman Media International represents Eduardo Saverin, the Facebook co-founder who renounced his U.S. citizenship ahead of the social network company’s initial public offering expected this week.
Born in Brazil, the 30-year-old Saverin became an American citizen in 1998. He’s now a citizen of Singapore, where he has lived for the past two years.
That city state has no capital gains tax and a maximum 20 percent personal income tax rate.
Saverin, who owns less than five percent of Facebook, is expected to be worth $3.5B after the IPO.
Tom Goodman denies that Saverin renounced his U.S. citizenship as a tax dodge. He told the May 11 New York Times that since Saverin is “making all these investments in Europe, Asia and the U.S. it’s a lot simpler.”
In an editorial today, the Wall Street Journal presented Saverin as an example of what happens when governments resort to “soaking the rich” tax strategies.
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