Friday, May 18, 2012

Bono overtakes McCartney

Bono apparently is set to surpass Paul McCartney as the wealthiest rock musician in the world. NME.com reports that the U2 singer, who owns a 2.3 percent stake in Facebook, is expected see his net worth increase significantly when the social-networking company goes public on Friday. Facebook is valued at more than $100 billion, which will make Bono's share worth in excess $1.5 billion. In comparison, the former Beatles star's fortune is estimated to be slightly over $1 billion. Bono bought his Facebook shares for about $90 million back in 2009 through his private equity company Elevation Partners. Not a bad return on the Irish rocker's investment.

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