Bono makes $1bn off Facebook
Cape Town – Bono has reportedly benefitted from a wise investment in Facebook, as shares he purchased have quadrupled in two years.
According to the Belfast Telegraph
and other sources, "In November 2009 Elevation Partners - a US investment firm in which Bono is a partner - paid $210m for a stake in the social networking giant. After another investor sold its stake in the company... Elevation Partners' stake is now valued at close to $1bn - or $975m to be precise."
Bono will likely welcome the news, after he was called the "worst investor in America" in 2010 by the publication 24/7 Wall Street.
In related news, it was estimated that the band U2 netted around $195m from their record-setting 360° tour.