U2's Bono Will NOT Make More On The Facebook IPO Than Throughout His 30-Year Music Career

Bono has more than two-per cent stake in Facebook, worth $1.5 billion

Photo: BI Illustration

UPDATE: The original stories were wrong, and based on some fundamental misunderstandings of how venture capital works. Glenn Peoples at Billboard.biz explains that Bono will be lucky if he made $10 million from the sale. That’s million with an “m.”

EARLIER:

Today’s Facebook IPO will make U2’s Bono the richest rocker on the planet, according to multiple reports

Back in 2009, the musician smartly bought 2.3 per cent of shares for $90 million in the social networking company through his private equity firm, Elevation Partners.

With Facebook now going public, Bono could personally take a majority of the possible $1.5 billion in returns. 

The current richest musician, Paul McCartney, has a totaled fortune of approximately $1.05 billion.

Prior to the IPO, Bono had a net worth of around $900 million thanks to a successful 30 year career. His latest “360” tour was the highest grossing tour of 2011, raking in over $300 million.

Despite the big pay day, Bono is showing no sign of slowing down. U2 has been in the recording studio and are reportedly working with hip, upcoming names in the music industry like Danger Mouse, RedOne, David Guetta and the songwriters behind the British pop boy band, One Direction

NOW READ: Everything you need to know about the Facebook IPO >

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