May 18th, 2012
12:00 PM ET
Could Bono become wealthiest rocker?There are reports circulating the Bono was expected to win the title of "world's richest musician" when the stock markets closed today, but the singer is not endorsing that check. NME reported that the Irish rocker was poised to surpass even Sir Paul McCartney in terms of wealth - and all because of Facebook. Reports were that Bono owns 2.3 percent of Facebook's shares through the private equity firm Elevation Partners, which would net a possible $1.5 billion now that the company has gone public.
The shares were said to have been purchased for $90 million back in 2009, and the company has grown mightily since then to be currently valued at over $100 billion. But seeing that it's unclear if Bono directly owns any Facebook stock, and it's unclear what percentage falls to him of the equity firm's holding, the actual windfall might not be as projected. The musician himself isn't convinced he's about to become the wealthiest rocker, either. When questioned about the reports by the Washington Times, the singer said, "Um, I don't think it's true." He added Friday in an interview on MSNBC, "Contrary to reports, I'm not a billionaire or going to be richer than any Beatle - and not just in the sense of money, by the way, The Beatles are untouchable." He continued to explain that "in Elevation, we invest other people's money - endowments, pension funds. We do get paid, and that is a good thing. We'll get blessed. But you know, I felt rich when I was 20 years-old and my wife was paying my bills. Just being in a band, I've always felt like this, being so blessed. I got interested in technology because I'm an artist, I'm interested in the forces that shape the world ... Technology is huge, I wanted to learn about it." In the meantime, it seems the famously charitable musician will only be adding to his wealth: his band U2 is said to be planning a comeback album and working on new material with Swedish songwriter Carl Falk, among others. A source told NME that the group's "back in the studio getting a feel for new material after the last album, 'No Line On The Horizon'. Will.i.am had a credit on that and they are looking to explore that direction further. They have been working with Danger Mouse and RedOne. They are excited about getting to work with Carl Falk."
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Wonderfu man he is indeed.
they are really wonderful
He's already the most hypocritical rocker...
We thought Fat Old Warren Buffet was the Fattest & Richest Cat ob block.
I saw him and I sucked his c o ck. He is gay like I like them
He utilizees a gibson guitar.
he is from Dublin and owns homes throughout the United States.
He is very gnerous to charity.
Michael Jackson´s 50% share in SONY/ATV is valued at 1.5-2 billion dollars.
So is this irrelevant for so-called financial reporters?
I saw U2 last summer. The concert was awesome. Sound system was unbelieveable. I wish there were more people in this world like Bono. Nice to know there are such charitable folks out there trying to do some good in this world.
cool. donate money. fine. whatever. not putting down your philanthropy, I just don't like your music, never bought any. i got other choices. bye now.
Good. God bless him for all of the good he does.
Hey entertainment folks – stick to reporting entertainment. Your financial reporting sucks.
Bono doesn't own 2.3% of Facebook, Elevation Partners II LP does. Bono is a member of the general partnership of Elevation Partners (one of four or five). The profits of the firm go first to the limited partners, and then the general partnership shares 20% of the combined increase in all fund investments. Bono's personal take, while sizable, is a small, small fraction of what you have reported.
Time to send your bimbo reporters back to the jersey shore and let reporters with brains and a college degree handle the finances.
Trash boat must be rippin PO'd
Anyone remember back when they first started how anti American anti capitalist this man was? I wonder, will he spread around his new wealth?
Bono currently supports:
ALAFA
Amnesty International
Charity Projects Entertainment Fund
Chernobyl Children's Project International
DATA
EDUN
Food Bank For New York City
Global Fund
Greenpeace
Keep A Child Alive
Live 8
Make Poverty History
Mencap
Millennium Promise Alliance
Millennium Villages
Mulago Positive Women’s Network
MusiCares
Not On Our Watch
ONE Campaign
Oxfam
(RED)
Red Cross
Simon Community
The Lunchbox Fund
UNICEF
UN Millennium Project
War Child
Wildlife Conservation Society
Witness
Zero Hunger
You?
U2 anti america ? When
Maybe he'll keep it all for himself shouting I OWN I OWN I OWN ME ME ME ME ME ME ME like a capitalist or a 4-year-old.
Uh, yeah. Bono is one of the most philanthropic megastars out there. He's also had a tremendous influence on other billionaires and encouraged them to donate large percentages of their riches to fight famine, disease and untold other atrocities that so many with wealth choose to ignore.
And this pretentious azz has the nerve to keep coming around an sniffing for our tax dollars for his charities. The day he's given away his money that's the day he has a right. Until then Bono...go to hell!
I sense pure jealousy! You are probably also upset that Bill Gates and his wife Melinda donated muti-millions last year alone to dozens of charities and still apply for Government 'matching funds'. You can gripe when you are productive enough to decide to donate multi-millions, have created as many jobs and saved as many lives as they have! ;-{D>
It's time for you to leave your parents basement you internet Troll. The charities Bono supports help a lot of people.
Buddy, you have too much hate in you, please seek help fast.
Bono supports a lot of charities with substantial contributions. See the post from "Honestly" above.
"comeback" album? U2 is still at the top of the pyramid – maybe Marquee missed their last album sales and sold-out stadium tour?
Couldn't happen to a more decent man.Good on yea Bono. Slainte !
Good for him. Now go help your buddy, Sean Penn, fix Haiti.
Geeze & to think I was happy winning $50 on a keno slip. Lol!
LOL! I know, right? I won 25 bucks once on a lotto ticket. I just can't imagine 1.5 billion.