Saturday, 19 May 2012

Bono Downplays Billion-Dollar Facebook IPO Haul

U2 singer Bono was already a wealthy man before Friday's  Facebook IPO
. But thanks to the 2.3 percent stake in the social networking site held by his Elevation Partners investment group (brought for $90 million in 2009), the singer has been catapulted from rich to dazzlingly wealthy. 
Bono became the world's richest musician, sitting on a massive pile of green after his 2.3 
percent share of Facebook ushered $1.5 billion when the company went public. In the process Bono topples former Beatles band member Paul McCartney as the world's richest rock star,  whose fortune is estimated to be worth around $1.05 billion.

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