Bono to be richest rock star after Facebook stock market deal
London, May 17 (ANI): A Facebook deal that will place the social networking site at the stock market, is set to make Bono the world's richest rock star.
Wall Street will invite the world to buy shares in Facebook and take what is expected to be a 104-billion-dollar gamble on its guiding light, Mark Zuckerberg, a hoodie-wearing 28-year-old who, only a few years ago, gave out business cards that read: 'I'm CEO, b*tch'.
Friday's stock market launch - or initial public offering (IPO) - of the internet's most popular social network has evoked almost as many shivers of fear in the business world as it has gasps of excitement.
Founder Mark Zuckerberg, a dentist's son who created his original networking site in a single night from his dorm room at Harvard just eight years ago, will ring the opening bell on New York's NASDAQ exchange.
By the end of the first day's trading his personal stake in the company will be worth 24 billion dollars, making him the world's 15th richest man - and a clutch of other bright sparks who were in on Facebook's early years will be billionaires, too, the Daily Mail reported.
More unexpectedly, the Facebook IPO is set to make U2 frontman Bono easily the world's richest rock star.
The private equity firm Elevation Partners, which Bono co-founded, bought 2.3 per cent of Facebook for 90 million dollars in 2009, which will soon be worth more than 1.5 billion dollars.
Together with his other investments and income from music, his stake is expected to make him richer than the next wealthiest pop star, Sir Paul McCartney, who is estimated to be worth 665 million pounds. (ANI)
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