Liberal Socialite Denise Rich Gives Up American Citizenship to Save on Taxes
Denise Rich is best known for being the ex-wife of Marc Rich. He is the billionaire tax evader and fugitive whom President Bill Clinton pardoned on his way out of office. Now the former Mrs. Rich has found her own way to avoid paying what President Obama might call her fair share, renouncing her US citizenship. According to Fox:
Denise Rich was born in Worcester, Massachusetts but has Austrian citizenship through her deceased father, a lawyer who represented her in a recent lawsuit told Reuters, adding she was making the move "so that she can be closer to her family and to Peter Cervinka, her long-time partner."
Cervinka is an Austrian national, but his main residence is London.
Austria gives tax breaks to citizens who spend half the year abroad, Reuters reports.