Singer enjoys investment growth as Facebook expands
Irish singer and U2 frontman Bono owns 1.5 per cent of Facebook, it has been revealed. Bono's Elevation Partners has now quadrupled the worth of its original investment to $750 million (£485.3m) thanks to the continued growth of the popular social networking platform.
The revelation comes in the week Goldman Sachs Group made an investment in Facebook said to be worth between £240 and £290 million.
With the new capital, Facebook is now valued at around £32 billion. Founder and CEO Mark Zuckerberg owns 25 per cent, equalling an £8 billion fortune which would place him at number 43 if this year's Forbes rich list was released today.
The promise of this personal fortune will not deter Zuckerberg from floating his share of the company, however, with the New York Times claiming that "people involved in the fund-raising effort suggest that Facebook's board has indicated an intention to consider a public offering in 2012".
Bono's second life online
The details of Bono's foray into Facebook investment do not mark the first time the singer or his band have become involved in digital media experiments. Albeit only in tribute form, Bono and pals made a stir when fans created U2 avatars and placed them within the confines of online game Second Life.
Below is a clip from Second Life showing the tribute band, U2 in SL, performing live at a concert held in Second Life Dublin in 2008: