Move over Taylor Swift, there's a new billionaire pop star in town. PHOTO: File
Bono has become the world's richest pop star after amassing a near $1.5 billion fortune from his shares in social media site Facebook.
The U2 frontman bought a 2.3 per cent share in the site for $89.6 million in 2009, with his investment group Elevation Partners, and now the UK's Sunday Mirror reports his share is worth a whooping $1.5 billion. The singer has made more money through his investment than he did from all his music and recordings.
Read: The world's 10 wealthiest couples
As a result, he overtakes Beatles legend Sir Paul McCartney - who has a $1.16 billion fortune - as the world's richest pop star.
However, The Independent states that the investment has not made Bono the world’s wealthiest musician; the $1.4 billion will be divided among the six founding members of the investment group which only gives each of them 20 per cent of the profits.
Facebook went public and was floated on the stock market in 2012, and is now worth around $200 billion.
Read: Bill Gates tops Forbes richest tech billionaires list
Bono is currently working towards a women empowerment campaign. He will be recording a remix of Strong Girl with top African male musicians D’banj, Diamond and Banky W. The song is a rallying cry for women’s empowerment which features top African female talent.
COMMENTS (8)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ