In the Headlines
May 17, 2012
Chasing Saverin's Winnings is a Losing Battle
CNBC
Last week, it was discovered that Facebook co-founder Eduardo Saverin had expatriated in September of last year. By expatriating, Saverin, who owns about 4 percent of Facebook, has by no means avoided taxation altogether. But despite Saverin’s denials, experts have noted that the move will benefit him in several ways. “It’s ingenious,” said Offshore Tax Compliance Team Chair Kevin Packman. “He will save a bundle when selling stock after the IPO.”