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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