Facebook’s announcement of filing papers for an IPO has changed the fortunes of a number of people. Following the news of graffiti artist, Choe, who is now a millionaire courtesy, Facebook, is news of rock star Bono turning into the richest rock star ever, once again courtesy Facebook. Yes, Bono who holds 1.5% shares of Facebook through his private equity firm, Elevation Partners, is all set to get richer. His shares are valued at a cool $1 billion, making him the world’s richest rock star.
On paper, Bono could now be estimated to be worth $1.1 billion, easily toppling the current richest rock star Paul McCartney by a cool $300 million. Some of the money from this profitable investment is expected to be diverted towards Bono’s charity projects, which focus on humanitarian aid in Africa.
Those who were skeptical about Bono’s move in 2009 when he purchased the shares for over $90 million must definitely be eating their words now. Looks like Bono gets the last laugh after all.