U2 frontman Bono is expected to become the richest musician in the world today (May 18th) as Facebook prepares for one of the biggest flotations in recent stock market history.
With Facebook’s potential stock market value said to be worth around a whopping $100bn, Bono will soar above Paul McCartney on the rich list thanks to his 2.3% stake in the social network. The singer’s private equity firm Elevation Partners bought a share in Facebook worth $90m back in 2009, and is now set for a huge profit on the investment.
Bono’s stake in Facebook is valued at over $1.5 billion, more than enough to take him above Sir Paul, whose own fortune was said to be £665 million according to the most recent Sunday Times annual list of the Top 50 Music Millionaires.
Bono will also see his wealth outstrip two other big music industry figures – theatre producer Cameron Mackintosh, who has worked on hugely popular musicals such as Les Misérables, The Phantom of the Opera and Cats, and record executive Clive Calder.Just Published: