Nightly News | July 10, 2012
>>> while many americans are struggling to make ends meet, there is a growing trend among some of america's ultrawealthy, they're willing to give up their citizenship in many cases to save money and taxes. our report tonight from nbc's andrea mitchell .
>> we know this saxophone has your name on it.
>> reporter: a songwriter and philanthropist got the president of the united states , the first lady and michael jackson to headline her fund-raisers for cancer, honoring her daughter gabrielle who died leukemia. she supported the clinton campaign. just before leaving office, bill clinton faced a storm of criticism for pardoning her former husband mark rich who fled prosecutors for tax fraud in 1983 .
>> just to be recognized by your peers is so wonderful.
>> reporter: from politics to the grammys, denise rich always surrounded herself with superstars and the superrich.
>> it's just a lot of funning and everyone has a lot of fun.
>> reporter: now she's put her 5th avenue apartment on the market for $65 million. it's not only denise rich , facebook co-founder gave up his citizenship before the facebook ipo, he moved to singapore. why the trend? because an irs crackdown and to avoid estate taxes .
>> they don't pay any estate tax when they die. this is a big concern to them, particularly for preserving family businesses.
>> rich says she gave up her status for her long time partner.
>> you don't need to renounce your citizenship to be closer to your family. we all know the reason she's doing this, and it's to avoid paying taxes. i find the people who renounce their american citizenship despicable.
>> reporter: whatever the reason, whose father escaped the holocaust and found refuge in the u.s. has now become a citizen of austria.