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Bono's Facebook Investment Rakes In Millions

Mark Metcalfe, Getty Images

U2 may have close to 7 million Facebook fans, but Bono's relationship with the premier social networking platform apparently goes a lot deeper. It has been revealed that the rocker owns 1.5 percent of Mark Zuckerberg's social network, thanks to a savvy investment by Bono's company, Elevation Partners.

According to the Word, Bono's private equity firm, which specializes in media and entertainment, has quadrupled its initial investment to $750 million due to the success of Facebook. According to Elevation's official website, the company has nearly $1.9 billion in committed capital.

The Facebook news is good for Bono, who seems to have found what he's been looking for with Elevation. But serving as the company's co-founder and managing director has come with its share of struggles.

Last march, the leather-clad frontman born Paul Hewson was named the "worst investor in America" by 24/7 Wall Street. At the time, it looked as if Elevation might lose its shirt due to a risky $460 million investment in Palm, but it managed to walk away unscathed when Palm was bought out by Hewlett-Packard for $1.2 Billion.

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mike de vita

Great Investment, I wish I did 2 ! All rich people should share & give 2 the needy ! I'm very far from rich, & a bit better than the poor ! But I always give 2 charities !!! Mike D.

January 11 2011 at 2:58 AM Report abuse rate up rate down Reply
oca anson

well if i have 175 million to invest, i really don't need to invest it, just let it seat in c.d.s and annuities , why risk a lot of money if you dont have any other intentions of using it .good or evil . hey mr. bono , why dont u-2 lend me some of your millions and invest it in the philippines 4 a change.

January 11 2011 at 2:04 AM Report abuse rate up rate down Reply
kevin

Yeah just goes to show you if you want to get rich all you need is 175 million dollars to ivnvest wisely. Get rich quick scheme. Step 1-get 175 million dollars...

January 11 2011 at 1:28 AM Report abuse rate up rate down Reply
Gottabekiddin

Correction... only ONE percent is actually used for charitable purposes!

I just did a quick google search and found this.
If you don't believe me just type this search into google:

bono faces fraud charges

You will see that these democrat dogooders aren't interested in helping anyone but themselves. That is the way it has always been. Follow the money!

January 11 2011 at 12:10 AM Report abuse rate up rate down Reply
Gottabekidding

Correction... only ONE percent is actually used for charitable purposes!

I just did a quick google search and found this.
If you don't believe me just type this search into google:

bono faces fraud charges

You will see that these democrat dogooders aren't interested in helping anyone but themselves. That is the way it has always been. Follow the money!

January 11 2011 at 12:06 AM Report abuse rate up rate down Reply
Kelli

Bono is one of the few celebrities that puts his money where his mouth is. He has been traveling to Africa since 1985. He and his wife will spend weeks there, doing hands on work, feeding babies, and tending to the sick. He does donate his own money. This is old news for people who have followed Bono for a long time, so it doesn't make the news anymore.

January 10 2011 at 11:25 PM Report abuse rate up rate down Reply
Madeleine

Facebook boasts, "...free and always be." How can they charge a fee?? I don't do Facebook so I really don't care.

January 10 2011 at 11:22 PM Report abuse rate up rate down Reply
David

Wow!How good for him! This would be the PERFECT opportunity to show his truly altruistic nature by donating ALL of his profits from this investment to African charities. After all, Bono is constantly telling American banks to forgive African debt, so he could probably pay some lucky countrys' debt off. Of course, I am not holding my breath. To do so would be him spending his own money, and celebs just don't do that. They offer their "support" or "bring attention" to a cause, thereby avoiding any actual sacrifice themselves.

January 10 2011 at 10:54 PM Report abuse rate up rate down Reply
Richard

Yo Debbie. Is there anything in this world beside Death, Taxes and the air you breathe that is not for free. Nowadays everyone charges for everything to make a buck...............No more free stuff........

January 10 2011 at 9:38 PM Report abuse rate up rate down Reply
Debbie

If he owns a part of Fb then he should have a say in the fact that they are going to charge a fee per month.. Many people cannot afford this which is a shame because some many old friendships have been reunited not to mentio keepint in touch with family..

January 10 2011 at 9:07 PM Report abuse rate up rate down Reply
1 reply to Debbie's comment
James

Really? You still believe that fable that's been running around the internet and Facebook for years. Good god, do a miniscule amount of research and you'll see it's a load of crap. LOL, charging for Facebook use. And next year, Obama wants to start charging to breathe the oxygen in the air too. Some people are so gullible.

January 11 2011 at 12:48 AM Report abuse rate up rate down Reply