via The Economist
“The press seemed to say [Mr Saverin] did it to avoid [taxes], he has to pay taxes. He had to pay huge taxes, hundreds of millions of dollars to give up his citizenship and if it [Facebook] hadn’t gone public or if something had gone wrong with the IPO, he would have been in a real bind.
When you give up your American citizenship, it’s not fair as far as I’m concerned, but the rules are that you have to pay everything, you have to pay taxes on everything you own and then you can leave. I mean no other country in the world does that, we’ve got our own Berlin Wall, it’s very expensive to leave, to give up your citizenship.” — Jim Rogers