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Bono Buys Bigger Share Of Facebook

| Filed under: BonoTech Talk

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Wowsa! And even with all the privacy controversy, he's dumping his $$$$$ in there.

Bono and execs at his business Elevation Partners have invested another £80 million into Facebook, bringing the total to £140 million. The company was able to buy shares from insiders on the secondary market.

It doesn't seem like a good idea to us, but despite his philanthropic efforts, Bono is known for being a terrible investor. He was named Worst Investor in America by Wall Street Journal after putting in £312.5 million into debt-riddled cellphone maker Palm Inc.

Hope this one goes as planned.

[Image via WENN.]

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10 comments to “Bono Buys Bigger Share Of Facebook”



  1. 1

    umm…i think he made money on Palm

  2. slite says – reply to this


    2

    …and then broke even when Palm sold to HP.

    Dont you even make an effort anymore?

    Bono is a douchebag of the 1st proportion for telling everyone that they dont give enough to charity while he has plenty to go around. We should give 90% of our income to charity, but he doesnt have to.

    THAT is the story you idiot. Once you got Bono's dick out of your mouth do some research.



  3. 3

    He is a douche on and epic scale.



  4. 4

    lets be clear Evolution is a hedge fund.
    Evolution was named on the the worst performing funds of this year and last
    Bono is an officer and a board member only. Granted he provided some of the seed capital, his position is mostly silent. Except for some liablity attached to various investments
    Evolution almost found themselves in the toilet recently, esp., with its investment in Palm.



  5. 5

    I guess it depends on the price he paid for those shares. The company will go public eventually and he should cash in!
    soyouthinkyourecool.com



  6. 6

    WOW! He is RICH! You always hear about, "they are rich because they are good with their money and save it." Doesnt sound like the case with Bono.



  7. 7

    It's not like he doesn't have the money!! That's pocket change to him… Besides, it is HIS money…so, he should be able to do what he wants… Just because he's not out there spending it on expensive cars, jewelry, and designer clothes, you want to criticize him?!?! At least HE'LL have something to show for it, while the other little celebrities (who DID shop, and DIDN'T invest) have to file for bankruptcy!!!



  8. 8

    To clarify:

    1. Bono most frequently is asking large companies, like Apple, etc., to donate to DATA and other philanthropic companies.

    2. Bono and the rest of U2 do not disclose how much they donate. Based on the energy he gives his philanthropic work - the the point that it annoys the other band mates - I would guess it's probably more than most of us will earn in a lifetime.

    3. Why the hell should he have to give all of his money away because he supports philanthropic causes? You have to be mother theresa to tell peeps they need to get off their asses and and give a crap?

    4. The amount of philanthropic work he's done anyway, the money he's raised from other people and the attention he's drawn to global issues, is, again, probably more valuable than if all of us pooled our entire lives' incomes and gave it all away.

    5. Yup, he's a bad investor. That's mostly what this article is about - don't know why the comments have nothing to do with that. He's Irish. He also drinks. They drink and are bad with money. It makes them fun friends.

    6. He has a sense of humor about being a celebrity, which most don't, which is why it confuses me when people think he's a "douchebag of the 1st proportion" (there are gradations of size of douchebaggery? is this the smallest or largest? I'm confused). It's much more fun to make fun of someone who takes themselves too seriously.



  9. 9

    he should invest in wheelchairs, he'll need one soon



  10. 10

    can't stand this asshole.