herald

Saturday 16 December 2017

Bono's billion dollar baby

BONO is set to become a billionaire thanks to his skyrocketing stake in Facebook.

The U2 frontman's company, Elevation Partners, originally invested €145m into Mark Zuckerberg's globally successful business two years ago and at the time Bono's move was seen as risky.

However, now that Facebook is about to become a publicly traded company in America, the Killiney-based star is having the last laugh and could see his bank balance soar by anything between €1.1bn and €2bn. Mark Zuckerberg, who founded Facebook, could see his site become worth €76bn.

Last year, Bono's stake was worth €676m, more than four times the original stake.

The A-lister and his colleagues moved a chunk of their business to Holland five years ago, just after the Irish Government decided to put a cap on the millions that wealthy artists could earn in this country tax-free.

U2's sell-out 360 world tour grossed a massive €510m for the Dubliners, making it the most successful of all time.

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