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Transcript by Newsy: http://www.youtube.com/user/NewsyBusiness?feature=guide (Image source: Facebook) BY NEWSY STAFF How much is U.S. citizenship worth? That's what critics are asking in the wake of Facebook co-founder Eduardo Saverin renouncing his U.S. citizenship. Here's Bloomberg. "Well, it turns out the move could save him $67 million in federal income taxes that are due on his Facebook stake, according to Bloomberg analysts." When Facebook goes public, Saverin — who owns four percent of the company — stands to make a $4 billion profit. Singapore has no capital gains tax. Journalist David Kirkpatrick — author of The Facebook Effect — tells CBS Morning News, this is very typical of Saverin's personality. "I don't think he's a big believer in the United States, I think he's kind of — he's kind of an opportunist." "He's really shown that is was all about the money for him from the beginning." Saverin told the New York Times, this issue is being misrepresented. He already paid an exit tax when he renounced his citizenship, though it's likely nowhere near $67 million. Still — he says, this is about where he wants to live and call home. "This had nothing to do with taxes ... I was born in Brazil, I was an American citizen for about 10 years. I thought of myself as a global citizen." ABC News notes, Saverin's explanation notwithstanding, the Facebook co-founder is not alone in dodging taxes from the country that bestowed his riches. "Saverin is one of a growing number of wealthy Americans dropping their citizenship, multiplying seven-fold since 2008, from 235 to more than 1,700." On Thursday, two U.S. senators— Democrats Charles Schumer of New York and Bob Casey of Pennsylvania — announced plans to address this new kind of tax evasion. "Casey's office said the bill is called the 'Ex-PATRIOT' Act, which stands for the 'Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy' Act." Beyond that, not everyone thinks Saverin is in the wrong. Quora writes... "Americans are critical partially because they aren't looking at this objectively. Go after megacorporations for tax evasions, not one 30 year old that may never have wanted to be a US citizen in the first place." Facebook's IPO is set to launch Friday.