Facebook Makes Bono Richest Rock Star In The World

Facebook IPO helps U2 frontman on his way to world domination.

Paul Tamburroby Paul Tamburro

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*Insert "Luck of the Irish" joke here*

Thanks to Facebook U2 frontman Bono is set to become the richest rock star in the world.

Bono owns 1.5% of the shares in the social networking site through his private equity firm Elevation Partners, meaning that when Facebook goes onto the stock exchange later this year his shares are reported to be worth just under $1billion (£630million).

Elevation Partners invested in the site back in 2009, forking out $90million (£56million) for the shares. Facebook filing for its initial public offering on Wednesday (February 9) will make Bono worth $1.1billion (£695million), £189million richer than ex-Beatle Sir Paul McCartney.

However, Bono won’t be able to have the money for a short while as selling his shares together would risk their valuation falling, and their value can also fluctuate from day to day.

When the money is released part of it is expected to go to Bono’s various charity projects. The rest may be invested in a swankier stage for U2 to play on – the $40million one they have now is looking a little shabby.

So that middle-aged bloke you watched gyrate around the stage in leather trousers and heels like your alcoholic dad at a fancy dress party at Glastonbury last year is worth more money than you could ever possibly fathom.

Enjoy the rest of your day.

 

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