Bono became the world's richest musician, surpassing Sir Paul McCartney, after Facebook went public on Friday, effectively earning the U2 frontman $1.5 billion on his 2.3 percent ownership stake.
Elevation Partners, Bono's private equity firm, purchased the stake for $90 million in 2009 and stands to gain big time as the social networking site's current $100 billion value. Macca's estimated worth is just over a billion.
Elevation Partners show no signs of slowing as early April brought the announcement of their investment in Dropbox, an internet storage service.
Dropbox allows users to store documents, photos and video in the cloud with the first 2Gb free. After exceeding that limit, users then pay $10 a month for up to 50Gb and $20 a month for 100Gb in storage.
The firm has invested heavily in the tech sector with additional concerns in Palm and Yelp.
by RTT Staff Writer
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