Facebook co-founder Eduardo Saverin has given up his U.S. citizenship, a move that will reduce his taxes when Facebook goes public in the coming weeks.
Saverin, who was born in Brazil and moved to the U.S. in 1992 and has been a U.S. citizen since 1998, has decided to become a resident of Singapore. He is said to own around 5 percent of the company, which has a valuation of between $77 billion and $96 billion according to paperwork filed ahead of its initial public offering.
