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.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.