Facebook Co-Founder Stand to Gain Choosing Singapore Over US
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Facebook Co-Founder Stands to Gain Choosing Singapore Over US
May 13, 2012Eduardo Saverin, the billionaire co-founder of Facebook, renounced his US 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.
Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in history for an Internet company. Saverin’s stake is about 4 percent, according to the website whoownsfacebook.com. At the high end of the proposed IPO market capitalization, that would be worth about $3.84 billion. His holdings aren’t listed in Facebook’s regulatory filings.
Saverin, 30, joins a growing number of people giving up US citizenship ahead of a possible increase in tax rates for top earners. The Brazilian-born resident of Singapore is one of several people who helped Mark Zuckerberg start Facebook in a Harvard University dormitory and stand to reap billions of dollars after the world’s largest social network holds its IPO. -
Savarin is a small potato. He is not even considered part of the founders of facebook per say. Why? All he did was manage the finance of facebook. THe programming was all done by Zuckerberg. In fact had facebook allowed Saverin to run his way - which means having facebook to seek advertising income like Yahoo - facebook would have been dead today.
Imagine - Saverin got 6 billion for doing nothing but just place his name in the shareholders listing. Zuckerberg and gang tried to remove him but Saverin used the american jury system to bring him back to the directors table.
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We can only imagine how rich people live in Sg.
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Originally posted by speakoutfor:
Savarin is a small potato. He is not even considered part of the founders of facebook per say. Why? All he did was manage the finance of facebook. THe programming was all done by Zuckerberg. In fact had facebook allowed Saverin to run his way - which means having facebook to seek advertising income like Yahoo - facebook would have been dead today.
Imagine - Saverin got 6 billion for doing nothing but just place his name in the shareholders listing. Zuckerberg and gang tried to remove him but Saverin used the american jury system to bring him back to the directors table.
So he is smart. Anyone who can get 6 billion bucks for doing nothing is just plain genius.
Anyone who is not a friend of mark zuckerberg is my friend.
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Originally posted by ditzy:
So he is smart. Anyone who can get 6 billion bucks for doing nothing is just plain genius.
Anyone who is not a friend of mark zuckerberg is my friend.
Anybody who can buy me cai png everyday is my friend.
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Originally posted by charlize:
Anybody who can buy me cai png everyday is my friend.
char.....are you a teacher? :0