What would you do for money? Would you give up your US citizenship? Well, for an estimated $67 million in savings on taxes, that exactly what Facebook co-founder Eduardo Saverin is doing.
He is actually renouncing his U.S. citizenship to avoid a large tax payment. But what it really means is that he just kissed off his chances of ever stepping foot in the states again.
Keep reading for more… after the jump.
While U2 frontman Bono is set to rake in over a billion bucks with the Facebook IPO, it’s co-founder Saverin that stands to make even more. So much that he’s ditching the US for good in favor of a tax free life in Singapore.
Saverin co-founded Facebook at age 21, then left two years later with a legal settlement that cut him off from Facebook but left him insanely rich.
His stake? More than $3 billion.
Saverin was born in Brazil and after his stint in America (where he went to Harvard), became a permanent resident of Singapore.