February 3, 2012


Bono's Facebook Investment Pays Off

Ian Gavan
Ian Gavan

Struggling young musician Bono is taking early steps towards a manageable living.

After U2's 3-year tour only grossed more than $700 million, Bono is finally seeing some real money as the co-founder of Elevation Partners, aka the company that invested in Facebook early and is set to clean up off Facebook's recent IPO.

An Elevation spokesperson told the Wall Street Journal that they couldn't predict how much they'll bank from financially friending Mark Zuckerberg, but people smarter than us estimate Elevation's $270 million investment could more than triple when the stock is priced. That's nearly a billion dollars if you're not in a math mood.

When it wrapped last summer, U2's 360° Tour became the highest-grossing concert tour in history, taking in $736 million, or $6.7 million for each of the 110 shows. We're just going to assume that the perpetually shaded frontman saw a decent chunk of that.

Elevation has also invested nearly $500 million in device maker Palm (which you probably don't use) and $100 million in Yelp (which you probably do). But rest easy, kids. Once Facebook goes public, Bono can buy that planet made of gold he's had his eye on ever since the Zooropa days. It's good to be king.