Facebook Champions Include U2 Frontman Bono


Story by Anne Erickson

Bono’s Elevation Partners among holds share’s of Facebook’s stock

Facebook is going public, and among the tech geeks, bankers, entrepreneurs and high-profile investors getting in on the IPO is a famed singer and humanitarian from the world’s biggest rock and roll band.

“Certain entities” related with Elevation Partners, the private equity firm co-founded by U2 main man Bono, are recorded as holding shares of Facebook’s capital stock. Specifically, Elevation Partners bought one per cent of Facebook in 2009 for $90 million, according to the Telegraph. If Facebook is ultimately valued at $100 billion as many analysts predict, that will make Bono’s one per cent valued at a full billion! So, does this mean Bono will become a bona fide Facebook addict? You never know. But it sounds like Bono certainly “likes” the social networking giant. Pardon the pun.

One thing is certain: Facebook’s chief executive officer and co-founder Mark Zuckerberg is going to make a bundle off the Facebook IPO. The company’s 202-page S-1 filing shows that Zuckerberg will own a 28.4% stake in the business, and with predictions that Facebook’s valuation could hit $100 billion, the young entrepreneur could wind up with stock valued at a whopping $28.4 billion, according to reports from the Street. Other players jumping on the Facebook bandwagon and securing holdings include the Facebook staff, former Facebook president and current Spotify investor Sean Parker, Facebook co-founders Dustin Moskovitz and Eduardo Saverin, Russian investment firm Digital Sky Technologies, Goldman Sachs, Peter Thiel of PayPal, Accel Partners and more. What other superstars do you think will get in on Facebook stock?


Anne Erickson
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Posted by Anne Erickson | Music, Rock, Rock News

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