Facebook founder flees the country to avoid tax


Knowing that you’re about to pocket close to $4 Billion, what self-respecting Harvard man wouldn’t consider getting the fastest plane out of the US of A, leaving his passport behind and claiming to be Singaporean?  Reports out of the States seem to indicate that Eduardo Saverin is heading East as fast as a jet can carry him. KitGuru wonders if it should ‘Like’ this update to his profile.
With the Facebook IPO set to smash all records this month, there will be an icing smothered cake to be divided up among the owners.
Eduardo has around 4% of the company, so his slice of the cake will immediately make him a member of a club with less than 2,000 members: The Billionaire Boys club 2012.
When asked about his decision to drop his US citizenship like a hot potato, Eduardo’s representatives said that it was crucial to his plans that he spend lots and lots of time among the 3.5 million Singaporeans that presently hold passports for the city-state.
After 150 years as a British trading post, Singapore gained independence and had its first elections in the late 50s, but wisely decided to carry on driving on the correct side of the road [Everyone knows that most people on the planet are right handed, so it makes sense to control the car with your superior right hand and only use your left, intermittently for minor operations like gear changing and to open the glove compartment - Ed].
Beautiful as the local occupants might be, Singapore is a really small place. Seen here next to central London and New York.
KitGuru says: Having renounced America last September, it looks like Eduardo might be a permanent fixture in the tax haven of Singapore. According to Wikipedia, this might be an upgrade, overall, as the people of Singapore produce more wealth (per person) than the people of the United States. If the ‘BJ in the toilet scene’ from Social Network is to be believed, then maybe Eduardo will find contentment in an oriental land.
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