HIGH, HIGHER THAN THE SUN: Back in 2009,
Bono's investment team bought 2.3% of Facebook for $90 million. By days end, those shares may be worth $1.5 billion and
he may become the richest rock star on earth, even more wealthy than Paul McCartney. Whatever he's still looking for, he can pay someone to find now.
R.E.M.'s still better.
ReplyDeleteNot to be too detailed or anything, but of the founders of Elevation (the rest of whom came from Silverlake, Apple, and Electronic Arts), Bono is likely the least wealthy. The $1.9bn that they manage is LP money, some of which will of course be their own, but nearly all of it will be other people's money. So, of the roughly $1.4bn of profits you mention, the firm itself will take about $280m (20%), to be split among the partners. I have no idea specifically, but Bono's piece of that will be very very small. Great investment for Elevation, but it's not going to have a huge impact on Bono's personal net worth given how large it already is.
ReplyDeleteSomehow, I knew you'd know this.
ReplyDeleteAnd to think, just last week I read an article about Bono being one of the worst investors in the entertainment industry (words to that effect).
ReplyDeleteElevation has done alright, not great, not horrible, just alright. The highest profile thing they've done is try to save Palm, which obviously didn't turn out well at all. As for Bono's other investments, I have no idea.
ReplyDeleteWelp! Time to start feeding the poor.
ReplyDelete