Facebook bags a bargain for U2’s Bono

The U2 singer's interests stand to make up to £506 million from Facebook's stock market flotation

Filed in U2, News at 12.49pm on 03 February 12

Elevation Partners, the investment company associated with U2 frontman Bono, is standing to make up to $800 million from Facebook, after the social networking site's recent stock market flotation.

The company spent approximately $210m buying Facebook shares several years ago, and is said to own around 1% of the site.

Facebook now has 845 million users and made a $1 billion profit in 2011.

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