Buried down in the article is a reference to FATCA. Do some research on this piece of legislation and it will help understand at least part of his motivation. FATCA effectively cuts off many foreign investment opportunities through investment firms that decline to register in the US or otherwise meet FATCA provisions. I guess the idea was to get investors to invest in GM, AIG, Citibank, etc. More experienced (and wealthy) investors may find giving up American citizenship will give them more opportunities and Singapore is the nexus of much of the new world investments. I believe this may be part of Saverin’s thinking and when he makes the statement that his move is not due to taxes, I think that confirms other reasons.
” More experienced (and wealthy) investors may find giving up American citizenship will give them more opportunities and Singapore is the nexus of much of the new world investments”
Correct.