U2’s Bono, is richest musician, thanks to Facebook investment

U2 lead singer, Bono, is now the world’s richest musician due to a wise investment he made in Facebook. This is the same man that said that there is so much money in Lagos. This means he knew what he was talking about.

According to Hollywood Reporter the rock star who just visited Nigeria for a song project made a killing of up to a billion pounds

A private equity firm, in which the singer has been involved, owns a 2.3 percent stake in Facebook that is worth around $1.5 billion.

Read also: Dre, Diddy, Jay Z are world’s richest rappers

Facebook is set to float on the stock exchange and all its early investors are set to earn huge amounts of money from the flotation, with the Irish singer among them.

Private equity firm, Elevation Partners, which the U2 singer joined after it was created in 2004 by co-founders Roger McNamee and Marc Bodnick, owns a 2.3 percent stake in Facebook, which it bought for $90 million (£57 million) in 2009 and now stands to make a handsome return.

Given the social media company is valued at over $100 billion (£63 billion), this makes Elevation’s stake worth more than $1.5 billion (£940 million). It is unclear exactly how much of Elevation’s gains from the IPO would go to Bono, but it may push his worth beyond that of McCartney’s fortune of £665 million ($1.05 billion).

RipplesNigeria… without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now