Bono U2 earns more than $500 million with Facebook

Sunday, January 16, 2011

The U2 frontman’s investment in the network has quadrupled since buying the company’s shares last year.

Being owner of 1.5% of the shares in a company may not sound very impressive, but that is not the case when it comes to Facebook.

Bono is well aware. As managing director of Elevation Partners, the investment firm he co-founded in 2001, the lead singer of U2 had the bright idea to buy shares of the successful network in 2010 and today his investment has quadrupled.

It happened because earlier this month the value of Facebook came to the very impressive $50 billion. Therefore, according to the site WENN , the $195 million spent initially by the Irish musician in the company’s shares of Mark Zuckerberg, are now worth $728 million.

However, to be able to use this money, the musician will have to wait until the company goes private, and can be traded in the stock market.


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lounge Admin said...

thanks my Friends...

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