Eduardo Saverin

Ousted Facebook co-founder ‘worried about privacy’ on social networking site

Ousted Facebook co-founder ‘worried about privacy’ on social networking siteWashington, May 30 : Facebook's ousted co-founder Eduardo Saverin has said that he keeps a low profile on the social networking site he created with Mark Zuckerberg as he is concerned about online privacy.

"I don't like showing my privacy," Saverin said in a rare interview with the Brazilian magazine Veja.

Saverin, who made billions off the world's most popular social network, came into the limelight in mid May with his decision to renounce his U. S. citizenship for residence in Singapore, where there is no capital gains tax.


Facebook co-founder Eduardo Saverin to save $67 million on U.S. tax bill

Facebook co-founder Eduardo Saverin to save $67 million on U.S. tax billWashington, May 17 : Co-founder of Facebook Eduardo Saverin could save over 67 million dollars in taxes by renouncing his U. S. citizenship ahead of Facebook's multi-billion dollar IPO.

The savings were calculated based on the 15 percent capital-gains tax Saverin would owe on his holdings as a U. S. citizen, as well as the increased price of Facebook's initial public offering.

Following the renouncement, Saverin would turn into a citizen of Singapore, where he has been living for the past three years.


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