Facebook Makes Bono Richest Rock Star

Bono owns 1.5% of Facebook, and his 2009 investment is now worth almost $1 billion - making him richer than Sir Paul McCartney.

Facebook Makes Bono Richest Rock Star
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Bono is about to overtake Sir Paul McCartney as the world's richest rock star, thanks to his investment in Facebook. The U2 frontman owns 1.5% of the social network after investing $90 million in 2009 through his private equity firm Elevation Partners. Based on current valuations, his shares will be worth almost $1 billion today. Alongside his other investments and income, it will make the singer worth a total of $1.1 billion - $300 million more than Sir Paul McCartney. Part of the money, when released, is expected to support Bono's charity projects which assist humanitarian aid in Africa. However, Bono won't be able to cash out with his winnings just yet. His share is significant enough to risk the value of the whole company, were he to sell every share at once. His fortunes could yet grow further - or fall, of course - when Facebook goes public on the stock market this year. A trading frenzy is expected, which leaves the fate of his investment uncertain. Other investments by the singer have not been as successful, according to NME. At around the same time, Elevation Partners also put money into Forbes Media, the value of which has since dropped sevenfold, while a $100 million investment in Move.com has resulted in a 50% loss.

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    WhoAMEye
    God this makes me hate Bono even more. The piss take is he can now more or less end world hunger single handedly without making us feel guilty because we have no money to spare and I bet he still doesn't
    metallicaftwlp
    Since he's always ragging on about world hunger and that stuff he should donate like $500 million and get stuff done instead of complaining. He can afford and I'm sure he and all his family have all the stuff they will ever want and need for generations.
    AcdcTXfan
    Salvo416 wrote: He should give some of that money to charity. Oh wait... he won't.
    Um read the 4th paragraph "Part of the money, when released, is expected to support Bono's charity projects which assist humanitarian aid in Africa." But ok, find any excuse you want to hate him. I'm sure you wouldn't take $1 billion if you had the opportunity.
    StillSublime
    Guys, guys.. It's his money. He took the risk investing in a freaking social networking site, he can reap the profits. You don't deserve any of his money and nobody else does. It's his money. Get off his balls.
    slaveskinJACKET
    b_flo wrote: These ignorant haters...are you really in the music biz? I've done several under-the-radar charity gigs, and a lot of these artists do it. You think they only perform when they go on tour? I'd rather have them do that, than others that appear on MTV Cribs to showoff what they have. I find it very amusing when people tell successful artists how to spend their money, yet they can't take themselves out of playing in a garage or a dive. "Hey, so why does your band sound horrible, just playing a 3 chord progression, yet that big-time rock band sounds great doing it?" (Pls. don't blame the gear!)
    This comment doesn't explain why one of the biggest bands in the world still sounds so shitty playing 3-chord songs. You don't have to be "in the music biz" to realize that Bono is a pompous, hypocritical douchebag. You don't have to be "in the music biz" to realize that any band you hear at any bar or in any garage generally sounds as good, or better than, U2. Even if all of us did have bands that had "left the garage" and played 3-chord songs that don't sound horrible, would that make U2 not suck? Would that make Bono less pompous? Would that make the Edge a respectable guitar player? The answer to all of those questions is, "No." P.S. Who is your band, b-flo, and why have I never heard of them? It's probably because they "sound horrible, playing 3-chord songs, and they haven't even been able to make it out of the garage," resulting in your vague references to leeching off of other successful bands. Where would you be without musicians to carry things for? P.P.S. Please, come up with a new reaction to people conveying a dislike for all things U2. The one that you choose to use over and over again just makes you sound as arrogant and ridiculous as Bono (although I bet you'll take that as a compliment).
    Salvo416
    AcdcTXfan wrote: Salvo416 wrote: He should give some of that money to charity. Oh wait... he won't. Um read the 4th paragraph "Part of the money, when released, is expected to support Bono's charity projects which assist humanitarian aid in Africa." But ok, find any excuse you want to hate him. I'm sure you wouldn't take $1 billion if you had the opportunity.
    Just because they say he will doesn't mean he'll do it. It'll probably only be 1% of his money anyway.
    b_flo
    These ignorant haters...are you really in the music biz? I've done several under-the-radar charity gigs, and a lot of these artists do it. You think they only perform when they go on tour? I'd rather have them do that, than others that appear on MTV Cribs to showoff what they have. I find it very amusing when people tell successful artists how to spend their money, yet they can't take themselves out of playing in a garage or a dive. "Hey, so why does your band sound horrible, just playing a 3 chord progression, yet that big-time rock band sounds great doing it?" (Pls. don't blame the gear!)
    samhell
    AcdcTXfan wrote: Um read the 4th paragraph "Part of the money, when released, is expected to support Bono's charity projects which assist humanitarian aid in Africa." But ok, find any excuse you want to hate him. I'm sure you wouldn't take $1 billion if you had the opportunity.
    Why only part? Why not all? We wouldn't want to call him a hypocrite or anything would we?
    jrcsgtpeppers
    more rich than sir elton john? or roger waters? or bruce springsteen? god i hate bono...he ruined across the universe and his glasses are dumb, because hes dumb, and his names bono, and that makes him dumb lol
    prelude222
    Hahaha slaveskinjacket actively searching for U2 articles to bash, then commenting on how others defend them. What a joke you are, with your "3 chord" argument. How come no bar bands play U2 songs???? Oh yeah try to sing them, or get the guitar sounds down. Idiot
    Trent Armitage
    slaveskinJACKET wrote: b_flo wrote: These ignorant haters...are you really in the music biz? I've done several under-the-radar charity gigs, and a lot of these artists do it. You think they only perform when they go on tour? I'd rather have them do that, than others that appear on MTV Cribs to showoff what they have. I find it very amusing when people tell successful artists how to spend their money, yet they can't take themselves out of playing in a garage or a dive. "Hey, so why does your band sound horrible, just playing a 3 chord progression, yet that big-time rock band sounds great doing it?" (Pls. don't blame the gear!) This comment doesn't explain why one of the biggest bands in the world still sounds so shitty playing 3-chord songs. You don't have to be "in the music biz" to realize that Bono is a pompous, hypocritical douchebag. You don't have to be "in the music biz" to realize that any band you hear at any bar or in any garage generally sounds as good, or better than, U2. Even if all of us did have bands that had "left the garage" and played 3-chord songs that don't sound horrible, would that make U2 not suck? Would that make Bono less pompous? Would that make the Edge a respectable guitar player? The answer to all of those questions is, "No." P.S. Who is your band, b-flo, and why have I never heard of them? It's probably because they "sound horrible, playing 3-chord songs, and they haven't even been able to make it out of the garage," resulting in your vague references to leeching off of other successful bands. Where would you be without musicians to carry things for? P.P.S. Please, come up with a new reaction to people conveying a dislike for all things U2. The one that you choose to use over and over again just makes you sound as arrogant and ridiculous as Bono (although I bet you'll take that as a compliment).
    no
    slaveskinJACKET
    AcdcTXfan wrote: Salvo416 wrote: He should give some of that money to charity. Oh wait... he won't. Um read the 4th paragraph "Part of the money, when released, is expected to support Bono's charity projects which assist humanitarian aid in Africa." But ok, find any excuse you want to hate him. I'm sure you wouldn't take $1 billion if you had the opportunity.
    Judging by the fact that his One charity -- a fcking charity -- only actually put a little over 1% of their funds toward any kind of actual charity, I'd say it's safe to assume that his personal estate would only manage to donate a small percentage of that, if any.