Bono's share in Facebook now worth 728 million
Last updated: 15 January, 2011
London, Jan 15, (PTI) : 7:28 IST
'U2' frontman Bono's decision to invest in Facebook has paid off as the value of his share in the social networking website has almost quadrupled in the past year.
The rocker purchased 1.5 per cent of the company for USD 195 million last year as the managing director of Elevation Partners, the investment firm he co-founded in 2001, reported Sun online.
Now his slice of Facebook, is worth a staggering USD 728 million after the popular site's value rocketed to USD 50 billion earlier this month.
Bono will be able to cash in his share once the privately-held site is floated on the stock exchange.
But his firm was branded "worst investor in America" after buying 25 per cent of mobile communications firm Palm, only to see its value plummet soon after. PTI KKR PBL 01150709