Socialite Denise Rich renounces U.S. citizenship

Charlene, Princess of Monaco, Natalie Cole, and Denise Rich attend the Princess Grace Awards Gala at Cipriani 42nd Street on Nov. 1, 2011 in New York City.

/ Stephen Lovekin/Getty Images

(CBS News) Denise Rich, the political fundraiser, Grammy-winning songwriter and ex-wife of pardoned commodities trader Marc Rich, has renounced her U.S. citizenship, Reuters reports.

This move will likely save her multi-millions on her U.S. tax bill, tax lawyers told Reuters.

Interestingly, Rich's ex-husband, Marc Rich was pardoned by former President Bill Clinton on his last day in office in 2001; among the charges Marc Rich was indicted on was tax evasion before he fled the country in 1983.

A House of Representatives committee investigation looked into the pardon and concluded Denise Rich's contributions to Clinton's presidential campaign and his library influenced his decision to pardon Marc Rich.

The 68-year-old Denise Rich, who has Austrian citizenship through her late father, dumped her U.S. citizenship in November, according to her lawyer, Reuters reports.

Her maiden name, Denise Eisenberg, showed up on the same quarterly list in the Federal Register of Americans who have renounced their citizenship, the same list that featured Facebook co-founder Eduardo Saverin, who renounced his citizenship in anticipation of Facebook's initial offering in May.

Rich's lawyer told Reuters she made the move "so that she can be closer to her family and to Peter Cervinka, her long-time partner."

Cervinka is Austrian but lives in London. Reuters reports that as an Austrian citizen, Rich would be able to take advantage of Austrian tax laws, which gives large tax breaks to its citizens who live half the year out of the country.

[dlk2161]

The easy solution is to deny access to the United States to anyone who has renouncede their citizenship. Why let them enjoy shopping, meeting with their investment advisors or fiends in New York. Bar anyone who renounces their citizenship from ever entering the U.S. again. Unfortuntately this will never happen since money talks.

[smittyc]

Just another mess that Romney will have to clean up.

[KPeters_from_UK]

Why should we care about Denise Rich? She isn't a "job creator", she is a socialite. In fact, most of these people who are leaving are not "job creators". Actually, she has indeed hired one important employee; a highly paid accountant who has advised her how to avoid US taxes. This socialite has the luxury to own a few houses and move about from country to country. She'll have to. She can't stay in London for more than 7 months or she'll be required to pay 50%...yep, 50% UK taxes so she'll live in London for a while then move to Austria then back to the UK then somewhere less...etc. etc.

[smittyc]

Gov Omally of md imposed a 5% millionaires tax on the rich in Maryland. 31,000 millionaires have moved and he let this tax expire. Total cost of exit in taxpayor dollars was over 100 million for just the first year and most ot those that fled were Democrats just like Mrs. Rich. Under Obama millionaires are renoucncing their U.S. citzenship by the planeloads. His millionaires plus base for donations is down over a third. His overall donations are way down as well as are the crowds when he stops his bus on tours. In many stops he has the people in the bleachers come forward to make the crowd appear bigger for his media photoshoots.

[DCCorruption]

Don't let the wench back into the U.S.

[infoworker]

If you can't afford to spend tens of millions of dollars to buy politicians, then this is apparently what Rich people do !!!

[royalstar05]

Good, get the F out.

[lesserof2evil]

Mitt Romney would have done the same thing if only US citizenship is not required to run for the White House.

[inmom63]

Other than the fact that now she'll pay NO taxes in this country...who cares about Denise Rich?

[Vetzero58]

Of all the ingratitude,selfishness and blatant tax dodging.

Young lady, you just keep right on going and headed for the exit and I mean don't even turn around.

Love U.S. or LEAVE !

Don't even think of coming back here. Far more deserving people are wanting your spot.

GO !

[jschm2681]

Obama's tax plan: top income tax 39.6, top divend tax 43.4, cap gains taX 30%, estate tax 45%. Add to that state tax and these people would be looking at an overall 50% tax rate. And people question why they are leaving? And off course this will hit at least 900000 small businesses who will not hire or expand. Great economics move by Obama to redistribute the wealth.