IPG did not reveal the number of shares it is selling but said that the sell-off would see a pre-tax gain of about 132m.
Well before Facebook filed papers to go public, Elevation paid 90 million for the shares in 2009 and after what is expected to be the second-biggest IPO in history, Bono's share could be worth more than.5 billion.
Also, the singer has reportedly pledged to use much of the money raised from his investments to aid charity work in Africa.Facebook, it has emerged.Thats a fairly eye-catching status update.This values the U2's Elevation Partners' stake at 975m - more than four times the 210m it paid in November 2009.Rolling Stone pointed out, Bono will split any Facebook riches with his partners at Elevation (whose number is not known so his total haul is undetermined.
If the calculations are correct (a spokesperson for the band could not be reached by MTV News at press time for confirmation) then Bono would surpass former Beatle Paul McCartney as the world's richest rock star.
Facebook, which it bought in 2009, has grossed Bono more than his whole music career, according to a report.K.05/18/2012, talk about a "Beautiful Day." Once the smoke clears from Friday's (May 18).Earlier this year Forbes named, u2 as one of the world's highest paid musicians, having taken 736m - and profits of around 195m - from record sales and concert receipts over the last two years).Facebook shares are not available on the public markets but are traded on SharesPost, which is a secondary stock market that lets stockholders sell shares before a company goes public.The social networking site has just been valued at an eye-popping 65bn slotica casino tragamonedas free coins - up from 50bn in January - following the sale of a stake by advertising and marketing giant Interpublic Group.Cleaned up with Facebook shares.And as a group, U2 are worth a not insubstantial 430million.Thanks a billion: How U2 star mocked as poor investor in the.S.The company was valued at 750million and Elevation pumped about 300million into.Elevation Partners'.3 percent stake.
U2 frontman Bono's investment firm could be looking at a profit of almost 800m on its stake.
According to England's, nME, the already flush, tech-savvy, irish rock icon owns.3 percent of the shares of Facebook through his investment group, Elevation Partners.