When U2 frontman Bono isn’t busy making music or immersing himself in his philanthropic work, the singer is making smart business moves. The 55-year-old musician has become the world’s richest pop star after a Facebook investment he made when the social media group was taking off back in 2009 paid off.
According to reports, the Beautiful Day hitmaker has racked in £940m ($1.5bn) after buying a 2.3% share in the social media network for £56m with the investment group that he co-founded, Elevation Partners.
Facebook, which was founded by Mark Zuckerberg with his Harvard College roommates and fellow students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes in 2004, went public and was floated on the stock market in 2012. The company is now worth around $200bn.