Saverin: Calm Down, Folks, I Don't Hate US
Facebook co-founder says citizenship move isn't about money
By John Johnson,  Newser Staff
Posted May 17, 2012 4:18 PM CDT
Eduardo Saverin, co-founder of Facebook.   (Getty Images)

(Newser) – Eduardo Saverin, the Facebook co-founder who stands to become a billionaire a few times over tomorrow, is trying to tamp down some of the vitriol headed his way over his decision to give up his US citizenship. Yes, he's saving money on taxes by doing so, but he tells ABC in a statement that "my decision to expatriate was based solely on my interest in working and living in Singapore, where I have been since 2009."

The diatribes against him—like this from Chuck Schumer—"are based not on the facts, but entirely on speculation and misinformation,” writes Saverin, who adds that he is "very grateful to the US for everything it has given me." The 30-year-old says he will pay "hundreds of millions" in US taxes and "will continue to pay any taxes due on everything I earned while a US citizen." He also promises to keep investing in US startups.