[SeekAndFind]

RE: His 4 percent stake is worth about $4 billion and he’s going to save a boatload on taxes with the move.

____________________

Actually it isn’t as simple as that. The IRS might demand that you pay taxes that you owe them before you can successfully renounce citizenship.

And I’m not sure leaving America for the still in effect, one party ruled Singapore (where the press is not free ) is a good idea.

[UCANSEE2]

And I’m not sure leaving America for the still in effect, one party ruled Singapore (where the press is not free ) is a good idea.

Well... for you and me. I think it's a good idea for him.

[Kellis91789]

“The IRS might demand that you pay taxes that you owe them before you can successfully renounce citizenship.”

No “might” about it. He renounced his citizenship in 2011 and it was just noticed on the IRS lists for April. The IRS has already gotten their pound of flesh. The “Exit Tax” treats all assets held as though they were sold at the time renunciation is granted. That means the IRS had to agree with the valuation of his shares last Sept when he applied, or the application wouldn’t have been approved. I doubt the IRS has the option to get more money out of him just because his shares went up in value after the IRS “virtually sold” them. The shares could go down in value, after all, especially since analysts are saying the IPO has been wildly overvalued, and the IRS isn’t going to refund the difference either.

[Revolting cat!]

one party ruled Singapore

Yeah, leaving one one party state for another one party state!

[Gaffer]

IIRC, he did this months ago, September.....value then was debatable

[GeronL]

Yes, but those are taxes on the value NOW, not after the IPO.

[stuartcr]

I’m guessing he’s pretty sure it’s a good idea.

[Sherman Logan]

And I’m not sure leaving America for the still in effect, one party ruled Singapore (where the press is not free ) is a good idea.

The desired condition is a civil society and rule of law. Elections and the free press are just tools that have often been effective at helping societies get to that goal.

OTOH, free elections do not necessarily mean that the goal will be reached. See 1930s Germany and the Middle East today.

A one party state is not necessarily oppressive, it's just that it tends to head in that direction because there are no checks and balances.

[silverleaf]

Jim Rogers moved his family there- good quality of life if you are wealthy

However Rogers did not renounce his citizenship, as far as I know

This guy doesn't look very “Singaporean” if you know what I mean

But I suspect to guys like this, nationality is nothing more than where you own a home and have passport