Today a number of high profile wealthy entrepreneurs announced their defection. The first was Eduardo Saverin, the billionaire co- founder of Facebook Inc. He renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion. He owns a 4% stake, worth about $3.8 billion. He renounced his US citizenship and moved to Singapore.
Meanwhile, another headline came across the wires today from Bloomberg, "France Entrepreneurs Flee From Hollande Wealth Rejection". In the article it states that entrepreneurs are fleeing France after socialist and thief... sorry, I repeat myself... Francois Hollande became President. Hollande, a hardcore socialist, narrowly prevailed against a number of other candidates who were proposing a 100% income tax rate!
In the article it states that Jeremie Le Febvre, a 30-year-old founder of private equity marketing-services firm TBG Capital Advisors, plans to move to Singapore from Paris this year.
And why shouldn't he? But, of course, the collectivists, socialists and thieves all rally to say that HE is the thief for leaving France. After all, he probably got to where he is today thanks to his 12 years of free indoctrination in the child prison camps called school.
Expats will grow in numbers as the recession worsens and governments look to rob the wealthy. http://burndownthefreakingmission.com