FB co-founder renounced US Citizenship b4 IPO

[Pandora]

It is not at all likely that an American living in the USA would go off to Singapore in order to save a few bucks, especially when he has more money than he could possibly spend in ten lifetimes anyway. So, I agree that this is not a big deal.

There was one American who did it then Clinton gave him a pardon. I never checked to see if he lost or regained his citizenship after that. His wife still lived in the states.

 

[dogtowner]

It is not at all likely that an American living in the USA would go off to Singapore in order to save a few bucks, especially when he has more money than he could possibly spend in ten lifetimes anyway. So, I agree that this is not a big deal.

more than you think prolly because its not a few bucks

15% or more next year vs 0% adds up

 

[BigRob]

more than you think prolly because its not a few bucks

15% or more next year vs 0% adds up

He is still going to pay tax on his holdings. The US government will treat it as if he sold it -- regardless of his no longer being a citizen. He is doing it because he really doesn't live here -- and he can get out now for much cheaper than after the stock gets grossly inflated after the IPO.