Sunday, 16 January 2011

Bono earns millions from Facebook

U2 star Bono's decision to invest in Facebook has paid off as his share in the social networking website is now worth $728 million.
The 50-year-old bought 1.5 per cent of the company for $195 million last year as the managing director of investment firm Elevation Partners.
And now his chunk is worth a massive $728 million after the website's value soared to $50 billion earlier this month.
Bono can cash in his share and claim a huge windfall when the privately-held website is floated on the stock exchange.
Facebook was founded seven years ago by Mark Zuckerberg, 26.

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