The finance news world is exploding with excitement today because Facebook, Inc. will trade publicly for the first time. While this is interesting to a large majority of us in general because Facebook.com is a big part of our everyday lives, it is particularly important to note on the music side of things because of U2’s Bono and his involvment in the social network. MTV News proclaimed today that because of the singer’s investment in Facebook he “could be the richest musician on the planet.”
Reports are indicating that tech the savvy and worldly rock star owns 2.3% of the shares of Facebook. He bought his 2.3% of Facebook back in 2009 with the help of his investment group Elevation Partners. Elevation contributed $90 million. Therefore, with Facebook having what is expected to be the second biggest Initial public offering in history, Bono’s shares are estimated to be worth $1.5 billion.