U2′s Bono Now the World’s Richest Musician Thanks to Facebook
"The U2 singer owns 2.3 per cent of the shares in Facebook through his private equity firm, Elevation Partners."
May 18, 2012 - 11:03 am
U2 frontman Bono will become the richest musician in the world tomorrow (May 18), overtaking Paul McCartney.
Facebook is set to float on the stock exchange tomorrow and all its early investors are set to earn huge amounts of money from the flotation, with the Irish singer among them.
The U2 singer owns 2.3 per cent of the shares in Facebook through his private equity firm, Elevation Partners, which they bought for $90 million (£57 million) in 2009 and now stands to make a handsome return.
Given the social media company is currently valued at over $100billion (£63 billion), this makes Bono’s share worth over $1.5 billion (£940 million) and puts him well above Paul McCartney, who is currently the world’s richest rock star with a fortune of £665 million.