July 26, 2012 / 9:30 AM / 5 years ago

Facebook co-founder Saverin debuts on Singapore rich list

SINGAPORE, July 26 (Reuters) - Facebook co-founder Eduardo Saverin, who renounced his U.S. citizenship earlier this year, made his debut on a Singapore rich list published by Forbes Magazine.

Brazilian-born Saverin, 30, is No.8 on the list with an estimated net worth of $2.2 billion.

Saverin has been living in Singapore since 2009 but only gave up his U.S. citizenship ahead of Facebook’s initial public offering.

The Southeast Asian city-state, which has no capital gains tax, is the main Asian centre for private banking and has long been a magnet for wealthy people from around the region.

Other non-Singapore-born people on the list include New Zealand native Richard Chandler, ranked No.5 with an estimated wealth of $2.9 billion, and China-born founder of property developer Yanlord Land Zhong Sheng Jian, at No.12 with $1.4 billion.

Indian telecom magnate BK Modi, who became a Singapore citizen earlier this year, is No.23 with an estimated fortune of $755 million.

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