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Eduardo Saverin, the billionaire co-founder of Facebook who recently renounced his U.S. citizenship to slash his tax bill, moved to Miami at the age of 13 because he was at risk of kidnapping. The 30-year-old was on a gangster’s list of potential kidnap targets which led his wealthy parents to flee Brazil in a potentially lifesaving move. But now Saverin, who was friends with Mark Zuckerberg when they attended Harvard in 2004 and [...] Eduardo Saverin, the billionaire co- founder of Facebook Inc. (FB), renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill. Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in history for anInternet company. Saverin’s stake is about 4 percent, according to the website Who Owns Facebook. At the high end of [...] From Bloomberg: Eduardo Saverin, the billionaire co- founder of Facebook Inc. (FB), renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill. Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in history for anInternet company. Saverin’s stake is about 4 percent, according to the website Who Owns Facebook. At the high end [...] by ZH Update: CDS now over 200 bps, or over 7 bps since this artice was posted. This is an emergency announcement for bubble watchers: China CDS has soared to 194.5 bps, +14.5 in the past few hours (a trend first noted here about a week earlier), the biggest relative mover in the sovereign realm, which has just hit the widest it has been since March 2009. Ironically the incremental [...] Washington D.C. The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census data. The analysis shows the racial and ethnic impact of the [...] This article originally appeared at Stone Street Advisors. It has been well documented that Warren Buffett is Wells Fargo’s biggest fan – and largest shareholder (through Berkshire Hathaway). In fact, in his annual letter to shareholders he states that WFC is likely to increase its dividend the most among his common stock holdings. Given that WFC cut its dividend after taking TARP money, his prediction should not come as [...] by Kevin McElroy , SA It only happens about twice in the average lifetime, but it’s the single most powerful stock investment strategy I’ve ever discovered. In the past 80 years, it only occurred twice, but if you had simply bought and sold stocks according to this strategy, you [...] AP survey: Painfully slow economic gains into 2011 HP’s shares will plunge at opening on Monday and are down over 10% this afternoon in after hours trading. Mark’s exploitation of HP and its employees was legendary and LOVE BY WS and now that has come to a screeching halt this afternoon. But some shareholders were not quite so unlucky: CATHIE’S REMARKABLE LUCK SELLING HP SHARES JULY 30TH Cathie Lesjak, now HP Interim CEO, filed a SEC Form 4 on 08/03/2010 related [...] They are saying there’s a possibility of the world, outside China, going into a double dip recession. Combine this with the general news about optimism and stock valuations and you see the wealth transfer effect going on (bankers selling retail investors their stock holdings). http://www.abc.net.au/news/stories/2010/03/14/2845352.htm China’s premier Wen Jiabao says the world could still fall into a double-dip recession and is warning against complacency. At his annual press conference, China’s number two leader has [...] |
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