In what was seen by some as a move to avoid U.S. taxes, Saverin renounced (gave up) his U.S. citizenship in September 2011. According to Saverin, he renounced his citizenship because of his "interest in working and living in Singapore" where he has been since 2009. He avoided an estimated $700 million in capital gains taxes; this generated some media attention and controversy. Saverin denies that he left the U.S. to avoid paying taxes.