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Bono’s Facebook Investment Pays Off: Shares Quadruple In 1 Year

Bono’s Facebook Investment Pays Off: Shares Quadruple In 1 Year

As if he wasnt rich enough… U2 lead singer Bono, real name Paul Hewson, has revealed how last year he purchased a 1.5% share of Facebook for £130 million, and now 12 months later how it is worth around £485 million. Unfortunately for the 50 year old business brain, he cannot sell his shares yet to claim his profit.

The Irish rocker will be pleased that one of his business ventures has succeeded, due to the fact that his investment firm Elevation Partners, was once voted the worst in America according to AOL. Elevation Partners earned its title of worst American investors atfer they purchased 25% of mobile communications company Palm. According to The Sun, the value of Palm plummeted and lost the investment company a huge chunk of money.

The social networking site which Mark Zuckerberg founded, has seen its estimated value leap from around $30 billion to $50 billion, and there have been crazy rumours going around that Facebook will close down in March. Facebook is still a privately held company, which is why Bono cannot sell his shares yet and cash in; however it is widely beleived that the site will be put on to the stock exchange some time this year.

Analysts have pointed out that in 2 years time, Facebook could be worth $63 billion, so Bono faces a difficult decision on whether he wants to quit while he is ahead or to hold out for a much greater reward. Facebook is only going to grow in value, but some may be scared of the whispers that Mark Zuckerberg for some reason will pull the plug. What would you do? Leave us your thoughts in the comments.

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