6:47 pm - 05/19/2012

U2's Bono: 'I'm not a billionaire'

U2 frontman Bono has rubbished reports which stated he was to become the richest musician in the world today (May 18), overtaking Paul McCartney.

It was thought that when Facebook was floated on the stock exchange today all its early investors would earn huge amounts of money, including the U2 singer, who owns 2.3 per cent of the shares in Facebook through his private equity firm, Elevation Partners, which they bought for $90 million (£57 million) in 2009.

However, Bono has denied that his share is now worth over $1.5 billion (£940 million), putting him well above Paul McCartney in the financial stakes, who is currently the world's richest rock star with a fortune of £665 million. Speaking to MSNBC, Bono said: Contrary to reports, I'm not a billionaire or going to be richer than any Beatle - and not just in the sense of money, by the way, The Beatles are untouchable - those billionaire reports are a joke.
He added: "In Elevation, we invest other people's money – endowments, pension funds. We do get paid of course. But you know, I felt rich when I was 20 years old and my wife was paying my bills. Just being in a band, I've always felt blessed. I got interested in technology because I'm an artist… Technology is huge, I wanted to learn about it. People might say that's odd, but I think it's odd if artists aren't interested in the world around them. I'm always chasing that. Facebook are an amazing team, a brilliant team, it's a technology that brings people together."

U2 are rumoured to be working on new material with One Direction's songwriters, according to reports, with Swedish pop svengali Carl Falk, who penned the boyband's 'What Makes You Beautiful' apparently on board.

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ugly_jacket 19th-May-2012 03:55 pm (UTC)
yeah come on, he only has hundreds of millions of dollars, crazy media
sassandthecity 19th-May-2012 04:16 pm (UTC)
Read this comment in Liz Lemon's voice and cracked the fuck up.
solitudete 19th-May-2012 05:34 pm (UTC)
jamie_gw 19th-May-2012 07:00 pm (UTC)
righhhhhhhtttttttttt. rich people make me so irrationally angry.
violue 19th-May-2012 03:55 pm (UTC)
grammaire 19th-May-2012 03:57 pm (UTC)
I don't, I'd settle at being just a $100 millionaire.
baptismtonight 19th-May-2012 03:59 pm (UTC)
id settle for 1 million tbh haha. enough to pay off student loans and put a great chunk away for my future, and parents/sisters.
xtinkerbellax 19th-May-2012 04:12 pm (UTC)
I'd settle for 50 million even, I mean, 1 million sounds like a lot I guess but you buy a house and there isn't much left. I know it depends on where you live but still.
putyohandsonme 19th-May-2012 06:57 pm (UTC)
I'd settle for thousandaire lol.
reginageorge 19th-May-2012 04:00 pm (UTC)
buy all of the things i never had
thirsty_bum 19th-May-2012 03:56 pm (UTC)
Pshhhh he's lying just to be modest or whatever
nemo_011 19th-May-2012 03:56 pm (UTC)
Did he spend it already? smh
sweet_children9 19th-May-2012 03:57 pm (UTC)
Poor guy he only is millionare
baptismtonight 19th-May-2012 03:57 pm (UTC)
well the launch of facebook was a tiny bit of a flop, so i'd sorta believe this. BUT, a part of me thinks he's saying this because if it's true then people are going to be like "really bitch, how you asking all of us to save the children/donate but you're a billionaire?" even more than they are now. Especially when i've heard some sketch shit about his "charities" and how much money really goes to the causes he supports.
myblackass 19th-May-2012 05:10 pm (UTC)
IA. He doesn't want the scrutiny.
nullteiler 19th-May-2012 03:58 pm (UTC)
Working with One Direction's songwriters

can't stand this guy
and I don't even know why
justrachna 19th-May-2012 04:20 pm (UTC)
Because he is a self-righteous, hypocritical piece of shit? At least that is why i can't stand him...
fuchsiagroan 19th-May-2012 03:59 pm (UTC)
""In Elevation, we invest other people's money – endowments, pension funds. We do get paid of course. But you know, I felt rich when I was 20 years old and my wife was paying my bills."

reginageorge 19th-May-2012 03:59 pm (UTC)
what a flop facebook going public was. my mom made 2 bucks per share from the IPO but she knew it was gonna be a flop so w/e
justrachna 19th-May-2012 04:23 pm (UTC)
I am dumb when it comes to financial stuff so this is a genuine question. I've been hearing that facebook's public offering flopped but i don't understand how or why?
reginageorge 19th-May-2012 04:49 pm (UTC)
the starting price was a little too high and people weren't making any money so they kept selling at pretty much the same price they bought it at.
childish 19th-May-2012 04:01 pm (UTC)
reginageorge 19th-May-2012 04:03 pm (UTC)
devochkazhenya 19th-May-2012 04:02 pm (UTC)
I wanna see the reciepts tbh
magwildwood 19th-May-2012 04:10 pm (UTC)
i think a lot of celebrity financial statements get inflated. investments and corporate ownership are more complex than most of these celebrity journalists realize. it's like when people claim jessica simpson is uber-wealthy.
xtinkerbellax 19th-May-2012 04:13 pm (UTC)
People confuse what Jessica's brand is worth vs. what she is worth.
102bb 19th-May-2012 04:14 pm (UTC)
Jessica Simpson is still pretty wealthy, even if you separate her from her brand, right?
magwildwood 19th-May-2012 04:15 pm (UTC)
like tens of millions but not hundreds.
nicholasdee 19th-May-2012 08:40 pm (UTC)
people equate net worth with actual assets.

jessica simpson's name brand is worth a lot, but she doesn't have all of that in cash
102bb 19th-May-2012 04:13 pm (UTC)
i hate being broke so much
schexyschteve 19th-May-2012 04:13 pm (UTC)
I wish I had these kinds of problems, distinguishing whether I was a billionaire, or simply a measly old millionaire.
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