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Bono has made more money from Facebook investment than from all his music | |
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Bono has written dozens songs during his long and enduring career. | Bono has written dozens songs during his long and enduring career. |
But he has made more money from an investment in Facebook six years ago, than from all of the music he has written and recorded over the years. | |
Reports said the 55-year-old rock frontman bought a 2.3 per cent share of the social media site for nearly $86m 2009 through Elevation Partners, an investment group he co-founded. | Reports said the 55-year-old rock frontman bought a 2.3 per cent share of the social media site for nearly $86m 2009 through Elevation Partners, an investment group he co-founded. |
Contrary to some reports, the investment has not made him the world’s wealthiest musician; the $1.4bn will be split between the six founding partners of Elevation Partners, which only get 20 per cent of profits. | Contrary to some reports, the investment has not made him the world’s wealthiest musician; the $1.4bn will be split between the six founding partners of Elevation Partners, which only get 20 per cent of profits. |
The take-away for Bono, whose real name is Paul Hewson, is approximately $43m from the deal, according to Value Walk. He is still some way behind both Paul McCartney and Madonna on the richest pop stars list. | |
Bono’s success comes just days after he announced an upcoming campaign he will be involve in to empower women. | Bono’s success comes just days after he announced an upcoming campaign he will be involve in to empower women. |
He and top African male musicians D’banj, Diamond and Banky W announced last week that they will be included in a remix of the song Strong Girl - a rallying cry for women’s empowerment which features top African female talent. | He and top African male musicians D’banj, Diamond and Banky W announced last week that they will be included in a remix of the song Strong Girl - a rallying cry for women’s empowerment which features top African female talent. |
Bono, whose ONE advocacy group is the creative force behind the campaign for women empowerment, has said music can create awareness and help shift policies to empower women | Bono, whose ONE advocacy group is the creative force behind the campaign for women empowerment, has said music can create awareness and help shift policies to empower women |