Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO



All the big money is leaving the US.

We are so fucked.

Going back to grinding on my longtail emd .info mfa site. I hear noodles in Thailand are only like $0.25.
 
Seeing stuff like this makes me all warm and fuzzy inside.

Edit: And reading some of the comments on that article makes me want to punch kittens.

"Let's see, if his 3.8 billion is taxed at that terrible rate in CA of 46%, then he'd only have.... gee, 2.0B, which as we all know is hardly enough to live on, poor fellow. Definitely reason to leave the country in order to avoid the income taxes, even tho this country provided him with the infrastructure (Harvard, Boston, etc...) to make all that money.

The 1% really doesn't seem to understand that they don't "make" all that money on their own. They make all that money because the infrastructure of the country provides them with the context to do so. That infrastructure is not just physical it is also social. It includes social programs like Medicare, unemployment insurance. Try becoming a billionaire in a country without a well developed infrastructure. Libya, anyone? Not much excessive spending on social services there, low taxes, and no government regulation to speak of at the moment... "


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This is interesting. I thought Facebook, like Google is now registered in Ireland and therefore subject to Irish tax code. Also, I don't think he had to go as far as giving up his citizenship, I thought you were still subject to US tax even if you renounced your citizen ship. Besides, he could have funneled that money into tax shelters; plenty of the super wealthy are doing that and have yet to renounce their citizenship.
 
ly2 from WF said:
I'm loving these comments on bloomberg
Click to expand...

I like the one that appears to be sarcastically asking about how many startups Singapore has. He's probably under the impression that Singapore is some third world hellhole, when it's actually the opposite.

Someone feel free to inform him :

Singapore has the world's highest percentage of millionaire households, with 15.5 percent of all households owning at least one million US dollars.
 
I think Saverin might be considered what they call a "covered" expat, which means he still has to pay taxes for 10 years after renouncing citizenship.

Yes, that is utterly bizarre, that the IRS would expect a nonresident alien to pay US taxes. But the US gov gets many countries to carry out their wishes and arrest people who don't.

But guess what! Saverin was born in Brazil and Brazil does not extradite http://www.sovereignman.com/expat/in-case-you-really-have-to-flee-the-authorities/

He is one very smart and fortunate person.
 
No more US passport aka no more paying tax to Uncle Sam. I bet Saverin doesn't want to come back to the US. He's happy spending 10k a night at nightclubs in Singapore and driving a Bentley (btw it's 4x the price for the same car in the US), enjoying life and doing a few talks here and there.

Like everyone else mentioned in here....F*** the Govt. Have fun trying to get back this lost money because you're too retarded to understand what tax does to rich people.
 
Will it be like Groupon.. in terms of price action. Wait and see. I want them to take on Google in the Adcents area.


Price Chart

Look at the longer term chart, not pretty.
 
ThisWebThing said:
Will it be like Groupon.. in terms of price action.
Click to expand...

Facebook has a real business model and lot of additional revenue they've been leaving on the table since they didn't have shareholder pressure. Groupon is a glorified email list/call center with a very low barrier to entry. Huge difference.

Of course, that doesn't mean Facebook isn't going to be overvalued out of the gate though...
 
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