Mark zukenberg the 27-year-old Facebook Inc. founder could face a tax bill of more than $1 billion after the company’s initial public offering, expected next week.
Brazilian Other founder gets Singapore Citizenship
Tax analysts says, his Harvard classmate “Eduardo Saverin” who is known as “the other Facebook founder” may have found a way to cut the bill. Eduardo Saverin, who now lives in Singapore, has given up his U.S. citizenship.
Saverin, 30, was born and raised in Brazil and moved to the United States in 1992. He became a U.S. citizen in 1998 and has spent the last four years living in Singapore. Singapore does not have a capital gains tax
Saverin is currently No. 634 on the Forbes list of billionaires, with an estimated wealth of $2 billion.
Saverin has a 4% stake in the company, according to the Who Owns Facebook? website. His stake could be worth nearly $4 billion after the IPO. Though Saverin’s spokeswoman said his decision to dump US citizenship had nothing to do with the upcoming IPO and the potential tax liability.
According to the website “who owns facebook”
Here is the ownership structure of the Facebook owners or soon to be shareholders
Mark Zuckerberg (24%)
Jeff Rothschild (.8%)
David Ebersman (.11%)
Mike Schroepfer (.11%)
Sheryl Sandberg (.1%)
Theodore Ullyot (.1%)
Elevation Partners (1.5%)
Mark Andreessen (.25%)
Andreessen Horowitz (.18%)
General Atlantic (.1%)
Kleiner Perkins (.073%)
For most updated owner ship details you can visit http://whoownsfacebook.com/