Balaji Srinivasan and the Real Price of Giving Up U.S. Citizenship

Description

Balaji Srinivasan exited his US citizenship for Singapore, and the exit wasn’t free.⁣ ⁣ The US puts your name on a Senate-maintained list, one of about 4,000-5,000 people who do this every year.⁣ ⁣ Then comes the real hit: “they take the realized value at the current price of all your unrealized assets, and then do the capital gains tax on that.”⁣ ⁣ For someone with angel investments and VC positions, that means marking everything to market and paying 25% on money you don’t have in cash.⁣ ⁣ “It’s very on brand for Balaji to do this.” 🎬