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ninavain · 05-18-2012, 11:29 AM

http://www.mtv.com/news/articles/168...t-rocker.jhtml

Talk about a "Beautiful Day." Once the smoke clears from Friday's (May 18) Facebook IPO , U2 singer Bono could be the richest musician on the planet.

According to England's NME, the already flush, tech-savvy  Irish rock icon owns 2.3 percent of the shares of Facebook through his investment group, Elevation Partners. Well before Facebook filed papers to go public, Elevation paid $90 million for the shares in 2009 and after what is expected to be the second-biggest IPO in history, Bono's share could be worth more than $1.5 billion.

As Rolling Stone pointed out, Bono will split any Facebook riches with his partners at Elevation (whose number is not known), so his total haul is undetermined. Also, the singer has reportedly pledged to use much of the money raised from his investments to aid charity work in Africa.

Though some are reporting that Elevation Partners' expected windfall would make Bono the richest rocker alive, this is not necessarily true, as the money will be split among various investors and partners associated with the group. It should also be noted that Bono would not be allowed to sell all his shares at once, and the singer has said that money raised from his investments will largely be directed to his philanthropic work in Africa.

05-18-2012, 11:29 AM
ninavain So Fucking Banned Industry Role: Join Date: Jan 2004 Location: Las Vegas Posts: 6,268	U2 frontman bono is officially worlds richest rocker-facebook investor http://www.mtv.com/news/articles/168...t-rocker.jhtml Talk about a "Beautiful Day." Once the smoke clears from Friday's (May 18) Facebook IPO , U2 singer Bono could be the richest musician on the planet. According to England's NME, the already flush, tech-savvy  Irish rock icon owns 2.3 percent of the shares of Facebook through his investment group, Elevation Partners. Well before Facebook filed papers to go public, Elevation paid $90 million for the shares in 2009 and after what is expected to be the second-biggest IPO in history, Bono's share could be worth more than $1.5 billion. As Rolling Stone pointed out, Bono will split any Facebook riches with his partners at Elevation (whose number is not known), so his total haul is undetermined. Also, the singer has reportedly pledged to use much of the money raised from his investments to aid charity work in Africa. Though some are reporting that Elevation Partners' expected windfall would make Bono the richest rocker alive, this is not necessarily true, as the money will be split among various investors and partners associated with the group. It should also be noted that Bono would not be allowed to sell all his shares at once, and the singer has said that money raised from his investments will largely be directed to his philanthropic work in Africa.