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	<title>Betabeat &#187; Eduardo Saverin&#8217;s Move to Renounce Citizenship Was Totally Just a Coincidence</title>
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		<title>Betabeat &#187; Eduardo Saverin&#8217;s Move to Renounce Citizenship Was Totally Just a Coincidence</title>
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		<title>Eduardo Saverin&#8217;s Move to Renounce Citizenship Was Totally Just a Coincidence</title>

		<comments>http://betabeat.com/2012/05/eduardo-saverins-move-to-renounce-citizenship-was-totally-just-a-coincidence/#comments</comments>
		<pubDate>Thu, 17 May 2012 07:09:22 -0400</pubDate>
					<link>http://betabeat.com/2012/05/eduardo-saverins-move-to-renounce-citizenship-was-totally-just-a-coincidence/</link>
			<dc:creator>Jessica Roy</dc:creator>
				
		<guid isPermaLink="false">http://betabeat.com/?p=46062</guid>
		<description><![CDATA[<p><div id="attachment_45133" class="wp-caption alignleft" style="width: 310px"><a href="http://nyobetabeat.files.wordpress.com/2012/05/eduardo-saverin-thherichest-org.jpeg"><img class="size-medium wp-image-45133" title="Eduardo-Saverin-thherichest-org" src="http://nyobetabeat.files.wordpress.com/2012/05/eduardo-saverin-thherichest-org.jpeg?w=300" alt="" width="300" height="232" /></a><p class="wp-caption-text">Mr. Saverin (therichest.org)</p></div></p>
<p>It may look like Eduardo Saverin, international playboy and man of very few public pursuits, <a href="http://betabeat.com/2012/05/11/forfeiting-u-s-citizenship-is-the-hip-new-way-to-dodge-taxes-on-your-post-ipo-dough/">renounced</a> his American citizenship in favor of a lesser tax bill, but that's just a <em>coincidence</em>, you guys. A very unfortunate coincidence. Mr. Saverin actually <a href="http://www.nytimes.com/2012/05/17/technology/a-facebook-cofounder-reflects-on-the-path-forward.html">filed</a> to renounce his citizenship way back in January 2011, because there's no way he could have had the slightest inkling that Facebook might go public soon, being a cofounder and all.</p>
<p>“I’m not a tax expert,” he <a href="http://www.nytimes.com/2012/05/17/technology/a-facebook-cofounder-reflects-on-the-path-forward.html">told</a> the<em> New York Times</em>, while refusing to offer any other explanation for why he'd agree to a move that <a href="http://www.huffingtonpost.com/2012/05/16/eduardo-saverin-us-citizenship_n_1522722.html">could</a> mean he is never allowed back into the U.S. again. “This had nothing to do with taxes," he insisted.</p>
<p>Okay then.</p>
<p><!--more-->But perhaps more interesting than Mr. Saverin's arguably sketchy tax practices, is his flighty nature--and the fact that despite his sizable net worth, he has yet to choose any particular pursuit to funnel that money towards. The <em>Times</em> paints a portrait of a wealthy, capricious manchild, who flits about Singapore flanked by pretty ladies and swigging bottles of champagne. In some circles that might be known as <em>swag, </em>but in the <em>Times</em> piece, it translates to vaguely pathetic.</p>
<p>"Of all the founders, Mr. Saverin has had perhaps the greatest difficulty figuring out how to build on what is likely a once-in-a-lifetime experience," wrote the <em>Times</em>.</p>
<p>"It’s a misperception, especially the playboy,” Mr. Saverin told them. “I do have a Bentley. I do go out. I’d rather not go into personal details."</p>
<p>Maybe don't mention your Bentley when you're trying to convince us you're not part of the global glitterati.</p>
<p>Mr. Saverin is set to gain a few billion from Facebook's IPO, so perhaps he's waiting for that windfall to thrust revolutionary business ideas upon the unexpecting public. We're not holding our breath, though.</p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_45133" class="wp-caption alignleft" style="width: 310px"><a href="http://nyobetabeat.files.wordpress.com/2012/05/eduardo-saverin-thherichest-org.jpeg"><img class="size-medium wp-image-45133" title="Eduardo-Saverin-thherichest-org" src="http://nyobetabeat.files.wordpress.com/2012/05/eduardo-saverin-thherichest-org.jpeg?w=300" alt="" width="300" height="232" /></a><p class="wp-caption-text">Mr. Saverin (therichest.org)</p></div></p>
<p>It may look like Eduardo Saverin, international playboy and man of very few public pursuits, <a href="http://betabeat.com/2012/05/11/forfeiting-u-s-citizenship-is-the-hip-new-way-to-dodge-taxes-on-your-post-ipo-dough/">renounced</a> his American citizenship in favor of a lesser tax bill, but that's just a <em>coincidence</em>, you guys. A very unfortunate coincidence. Mr. Saverin actually <a href="http://www.nytimes.com/2012/05/17/technology/a-facebook-cofounder-reflects-on-the-path-forward.html">filed</a> to renounce his citizenship way back in January 2011, because there's no way he could have had the slightest inkling that Facebook might go public soon, being a cofounder and all.</p>
<p>“I’m not a tax expert,” he <a href="http://www.nytimes.com/2012/05/17/technology/a-facebook-cofounder-reflects-on-the-path-forward.html">told</a> the<em> New York Times</em>, while refusing to offer any other explanation for why he'd agree to a move that <a href="http://www.huffingtonpost.com/2012/05/16/eduardo-saverin-us-citizenship_n_1522722.html">could</a> mean he is never allowed back into the U.S. again. “This had nothing to do with taxes," he insisted.</p>
<p>Okay then.</p>
<p><!--more-->But perhaps more interesting than Mr. Saverin's arguably sketchy tax practices, is his flighty nature--and the fact that despite his sizable net worth, he has yet to choose any particular pursuit to funnel that money towards. The <em>Times</em> paints a portrait of a wealthy, capricious manchild, who flits about Singapore flanked by pretty ladies and swigging bottles of champagne. In some circles that might be known as <em>swag, </em>but in the <em>Times</em> piece, it translates to vaguely pathetic.</p>
<p>"Of all the founders, Mr. Saverin has had perhaps the greatest difficulty figuring out how to build on what is likely a once-in-a-lifetime experience," wrote the <em>Times</em>.</p>
<p>"It’s a misperception, especially the playboy,” Mr. Saverin told them. “I do have a Bentley. I do go out. I’d rather not go into personal details."</p>
<p>Maybe don't mention your Bentley when you're trying to convince us you're not part of the global glitterati.</p>
<p>Mr. Saverin is set to gain a few billion from Facebook's IPO, so perhaps he's waiting for that windfall to thrust revolutionary business ideas upon the unexpecting public. We're not holding our breath, though.</p>
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