Bono's Elevation Partners Runs $90 Mil to $1.5 Bil in Facebook, Making Him the World's Most Insufferable Musician (FB)

From the New York Post:
Bono world's richest musician

Bono will become the richest musician in the world today, reports say, stealing the title from Paul McCartney.
According to the British music magazine NME, with the initial public offering of Facebook stock today, Bono will substantially boost his wealth.

The U2 front man was wise enough to buy into the social media network in 2009, purchasing 2.3 percent of the shares in Facebook through his private equity firm, Elevation Partners.

While Bono's firm bought the shares for $90 million three years ago, the shares are now valued at $1.5 billion. It remains unclear how many shares Bono personally holds or if they were solely purchased by the equity firm....MORE

Previously:
Mugabe launches Robert Mugabe intelligence academy; Chicago Economists to Aid Inflation-Weary Zimbabwe

..."We were hoping for Bono," says Nkende Masvingo, referring to the rock singer who has made sub-Saharan poverty his personal crusade, "but they sent us Gary Becker because U2 was on tour."

Becker, the winner of the 1992 Nobel Prize in Economics, will lead a "dream team" including Steven Levitt, co-author of the best-selling pop economics book "Freakonomics", that will set up camp in this city, the nation's capital. "First, we need to understand the situation," said Becker ...

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...Looks like a job for Private Equity Man-

It's a beautiful day ... for a private equity group buyout. Bono has got
in on the act with his private equity outfit, Elevation Partners.

Elevation Partners Investment Team.