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(CNN) -- Wealthy socialite and Grammy-nominated songwriter Denise Rich has moved to London and renounced her American citizenship. That's according to her spokeswoman.

Tax experts say this move allows her to legally avoid paying a huge chunk of taxes on her estate. Her spokeswoman says the 68-year-old Rich renounced her citizenship because she wanted to live in London with her long-time partner and her two daughters.

Rich used to be married to billionaire commodities trader Marc Rich.
President Bill Clinton pardoned him for oil profiteering and tax evasion after he fled to Switzerland. The pardon was considered controversial because of Denise Rich's donations to the Democratic Party and to the Clinton Library.

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