The Ledger / Eduardo Saverin
Eduardo Saverin
◼ Origin
Brazilian-born Eduardo Saverin was part of Facebook's founding circle, providing early seed funding and serving as CFO before being diluted by Zuckerberg through a series of share issuances (subject of litigation, settled 2009). By Facebook's 2012 IPO, Saverin held approximately 4% of the company — worth roughly $4 billion. In September 2011, months before the offering, he renounced his US citizenship and established residency in Singapore, where capital gains are not taxed. He collected the proceeds without paying the American taxes his windfall would have required.
◼ Self-Made Verdict — YES
The act is on the public record and Saverin does not deny it — only its motivation. He filed the paperwork. He moved to Singapore. He collected the winnings. He was made a billionaire by American capital markets, American workers, and American institutions. He canceled his membership before the bill came due. The legal system let him go. The Ex-PATRIOT Act that would have stopped him was never passed. That's a failure of the system, not an exoneration of the man.
◼ Documented marks
01
Saverin renounced his US citizenship in September 2011, months before Facebook's IPO, and declared residency in Singapore where capital gains go untaxed. He collected roughly $4 billion. He paid what Singapore charges: nothing.
02
The IRS published his renunciation on April 30, 2012 — days before the offering. Senators Schumer and Casey called it spitting in the eye of the American people and introduced a bill to permanently bar him from re-entering the country. It did not pass.
03
Saverin said his move to Singapore was personal, not tax-motivated. He has remained in Singapore for over 14 years. Singapore still has no capital gains tax.
No inheritance, or primary accounts documented for this billionaire yet.
◼ List of charges
Total sentence
0–0 years
That is
0.0–0.0 life sentences
(using 78 years as one life)
At $1 million per day
Eduardo Saverin's fortune would last 94 years
1.2 lifetimes of luxury — before running out.
These are moral charges, not legal ones. The actual legal system has not — and will not — bring them.
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