Facebook Co-Founder Chooses Singapore Over US

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Posted: 13 May 2012 | 7:16 am

If you want to see how the new world order is shaping up just check out the latest news on Facebook Co-Founder Eduardo Saverin.

The billionaire has taken up citizenship in Singapore and renounced his US citizenship in a move that a few years ago would be unthinkable.

Much of the move has been motivated by taxation concerns ahead of Facebook's touted IPO and of which Saverin could benefit substantially from his shift of tax bases.

While the West is embroiled in a tax the rich focus these days, there is a danger that the move will drive entrepreneurs and high net worth individuals overseas.

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