Bono is set to add even more profit to his bulging bank account today as his investment group Elevation Partners is set to net $1.5 billion in the public offering of Facebook stock. Purchasing 2.3 percent of the popular social network site in the world, Elevation paid a mere $90 million in 2009.
Facebook is set to raise $16 billion dollars by going public and could well be the ‘sweetest thing’ for Bono. It’s not been stated exactly how much he’ll make personally as the profit will be split between multiple investors, and early reports of the endeavor making him the richest pop star on the planet while not yet fully calculated will definitely ensure he has the edge.
Noted for his many philanthropic works, Bono has already pledged most of the profit made will go directly into his charitable works for Africa.