Super-rich Irish rock star Bono is about to become even richer, thanks to Facebook.
The initial public offering (IPO) of Facebook this week revealed that the shares Bono bought in the company three years ago could be worth about US$1 billion ($1.2 billion) when the social networking site goes public later this year.
The focus has been on the move making Facebook founder Mark Zuckerberg one of the richest men in the world, but others will also make a killing including the U2 frontman, who owns a one per cent share through his investment company Elevation Partners. The company bought the shares for US$90 million in 2009.
This isn't the first time Bono has bought shares but it's the biggest windfall of his investing career. He lost heavily pouring huge amounts of cash into Forbes Media and Move.com, but reports say the valuation of his shares will make him - on paper at least - the richest rock star on the planet.
This will push him ahead of Sir Paul McCartney, estimated to be worth US$600 to US$750 million.
