Bono Gets a Facebook Lift
Journalists must get giddy over the prospect of rolling out puns and awkward titles at times like these.
U2 frontman Bono finally has found what he's looking for--at least when it comes to tech investments.
Bono's part of an investment fund, Elevation Partners, who've invested in a variety of tech related businesses over the years. Notably Palm, subsequently bought by HP and destroyed, and Yelp, the somewhat popular review site. But with their investment in Facebook in 2010, owning 1.5% of the soon to be public company could be worth $1.5 billion. Not bad for a $270 million investment.
As an added bonus, Bono could potentially become the richest rock star on the planet:
The development means Bono could be worth, on paper at least, as much as $1.1 billion (£695 million), some $300 million (£189 million) richer than the current most-wealthy rock star, Sir Paul McCartney.
The stock market works in mysterious ways.
It's a beautiful day... for Bono.
The Facebook IPO is even better than the real thing... for Bono.
Hold me, thrill me, invest in me, sell me?
Bono can finally afford to give the streets a name.
The sweetest thing... is when the rich get richer.
I'll be here all week.