Belfast Telegraph

Saturday 27 December 2014

I'm no Facebook billionaire: Bono

Bono's investment group Elevation put money into social networking site Facebook
Bono's investment group Elevation put money into social networking site Facebook

U2 frontman Bono has laughed off claims he will become a billionaire on the back of the Facebook flotation.

The rock star's investment group Elevation put money into the social networking site, taking 2.3% of the company in late 2009.

But while the flotation means Elevation is worth way in excess of £1 billion, Bono is joined by nine other directors who stand to profit.

And reacting to the launch of Facebook on the stock market, he said: "Contrary to reports, I'm not a billionaire or going to be richer than any Beatle - and not just in the sense of money, by the way, the Beatles are untouchable - those billionaire reports are a joke."

There had been suggestions that the canny investment could make his wealth outstrip that of Sir Paul McCartney, said to be valued at £665 million.

Bono told MSNBC's Andrew Mitchell in the US: "In Elevation, we invest other people's money - endowments, pension funds. We do get paid of course. But you know, I felt rich when I was 20 years old and my wife was paying my bills.

"Just being in a band, I've always felt blessed. I got interested in technology because I'm an artist; I'm interested in the forces that shape the world, politics, religion, the stuff we've been talking about today."

He added: "Technology is huge, I wanted to learn about it. People might say that's odd, but I think it's odd if artists aren't interested in the world around them. I'm always chasing that. Facebook are an amazing team, a brilliant team, it's a technology that brings people together."

end

Latest News

Latest Sport

Latest Showbiz