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  • Denise Rich, the wealthy New York socialite who bought her way into the upper echelons of American entertainment and politics, has decided it no longer pays to be an American citizen. She’ll reportedly save millions in taxes.

    In a stunning move that is sure to embarrass her political friends, which include Hillary and Bill Clinton, the ex-wife of rogue billionaire trader Marc Rich, has renounced her U.S. citizenship in favor of becoming an Austrian.

    Although, she was born in Massachusetts, the 68-year-old Grammy-nominated song-writer, was able to claim Austrian citizenship through her deceased father. She filed for the change under her maiden name Denise Eisenberg.

    The change was published in the Federal Register in April along with others who gave up U.S. citizenship Michael Heidt, a lawyer in Hollywood, Fla, who represented her told London’s Daily Mail.

    Officially, Rich said she surrendered her U.S. passport so she could be closer to her two daughters in London and to long-time partner, wealthy developer Peter Cervinka.” But as a resident of Austria, her tax savings will be significant. Rich plans to live half the year in London.

    Of late, Rich has pursued hobnobbing with European royalty. She frequently travels to Cannes, Monte Carlo and St. Tropez where she keeps a 157-foot yacht, Lady Joy, according to The Daily Mail.

    Denise was married to Marc Rich when he fled the United States in 1983 after being indicted for tax evasion, fraud, racketeering and illegal trading of oil with Iran. They divorced in 1996.

    Rich lived as a tax fugitive in Switzerland for years until President Clinton granted him a full pardon in 2001 on his last day in office. Denise Rich
    personally lobbied the president and made huge donations to his library.