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Facebook Co-founder Eduardo Saverin Ditches U.S. Citizenship Ahead of IPO

NEW YORK, NY - APRIL 28:  Eduardo Saverin, co-founder of Facebook attends the 7th Annual Common Sense Media Awards honoring Bill Clinton at Gotham Hall on April 28, 2011 in New York City.  (Photo by Jason Kempin/Getty Images for Common Sense Media) *** Local Caption *** Eduardo Saverin;

With his Facebook stake set to be worth close to $4 billion by the end of the month, jilted (but very rich) co-founder Eduardo Saverin, who is not quite as handsome as Andrew Garfield, is renouncing his American citizenship. "Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time," said his spokesman, who really meant, AHHH TAXES. Saverin will still owe the government an "exit tax" determined by the capital gains on his stock holdings, but one expert called it "a very smart idea." So to recap: The Brazilian-born 30-year-old moved to the U.S. in 1992, became a citizen in 1998, went to Harvard, made a few billion, and bailed to avoid a huge tax rate. The American dream.

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Photo: Jason Kempin/Getty Images