Bono to Become Richest Rocker on the Planet

By
Getty Images
U2 frontman Bono is reportedly about to become the wealthiest rocker in the world, with his stake in newly public Facebook bringing in an estimated $1.5 billion.
Bono invested in the social media site in 2009, spending $90 million to purchase 2.3 percent of Facebook shares through his private equity firm Elevation Partners. Organizers arranging Facebook's IPO settled on a price of $38 per share and the company and its investors raised about $16 billion in the historic offering.
Facebook debuted Friday morning on the Nasdaq Stock Market with an IPO that made the company -- started by current CEO Mark Zuckerberg and others in a college dorm room eight years ago -- the most valuable U.S. firm to ever go public.
The Facebook investment is likely to push Bono into the No. 1 spot of the world's richest musicians, bumping former Beatle Paul McCartney, who is estimated to be worth just over $1 billion.
But don't expect the charity-friendly rock star to go on a spending spree -- he's said in the past that money raised from his investments will mostly be funneled to his various philanthropic projects in Africa.