Denise Rich Leaving U.S.

Songwriter Denise Rich, ex-wife of commodities trader Marc Rich, is renouncing her American citizenship to live in London as an Austrian citizen, Reuters reports, observing, "She'll also be saving a lot of money in taxes by leaving her U.S. passport behind." People thinking of making this move may be doing it this year before the capital gains rates that apply on the "exit tax" are scheduled to increase next year.