Report: Renouncing U.S. Citizenship Increased Tax Bill For Facebook Co-Founder Eduardo Saverin
Everyone who branded Facebook Co-Founder Eduardo Saverin as a tax-dodger for his decision to renounce his U.S. citizenship, which became public knowledge in the days leading up to the social network’s initial public offering, might want to take a step back.
Everyone who branded Facebook Co-Founder Eduardo Saverin as a tax-dodger for his decision to renounce his U.S. citizenship, which became public knowledge in the days leading up to the social network’s initial public offering, might want to take a step back.
Facebook stock was trading at just under $28 per share at the time of this post, and, according to Forbes Contributor Tim Worstall, the only way for Saverin to reduce his tax bill would be for him to wait until the stock tops $40 and then sell it.
Worstall
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