If you needed one more reason to hate the insufferable lead singer of U2, go ahead and add this to the list: When Facebook goes public May 18, the $90 million investment Bono made in 2009 will turn into $1.5 billion by the end of the day.
Facebook’s IPO could make Bono the wealthiest rocker in the world, surpassing Beatles frontman Paul McCartney, who is currently worth $1.05 billion, according to New Musical Express.
Bono later denied the report, saying “this boy is not a billionaire or going to be richer than any Beatle.”
Long before the Facebook IPO was on the table, the Irish troubadour got a 2.3 percent stake in the company. The social media site is currently valued at $100 billion, which will make the singer a billionaire without hitting a single note.
It’s a “Beautiful Day,” indeed.
UPDATE: As UK’s The Telegraph points out, Bono’s equity fim, Elevation, invested the $90 million in Facebook three years ago. While the investment will indeed multiply to the tune of $1.5 to $1.9 billion, Bono will not pocket all of that money alone. The nine other managing directors of Elevation will all bask in the glow of Facebook’s IPO.
Still, it does not suck to be Bono today.
This story has been updated to include Bono’s denial.