Facebook Faceoff

Relax, Facebook Is Not Making Bono Richer Than Paul McCartney . . . Yet

via Wikimedia

Yesterday, NME reported that once Facebook hit the stock exchange, Bono would usurp Paul McCartney’s role as the richest musician in the world. That’s because Bono (or “Bono Rockstar,” as Crunchbase lists him) invested in Facebook through Elevation Partners, which owns 2.4 percent of Class B shares. Based on the IPO pricing, that makes Elevation Partners stake worth more than $1.5 billion, whereas Mr. McCartney’s fortune is estimated at £665 million or $1.05 billion.  Read More