Bono Set To Become Richest Rock Star In The World Thanks To Facebook

Bono is set to become the richest rock star on the planet thanks to his stake in Facebook.

The singer currently owns 1.5 per cent of the shares in Facebook through his private equity firm, Elevation Partners. When the  site floats on the stock exchange later this year, Bono's shares are reported to be worth just under $1 billion (£630 million).

The frontman's investment firm bought a $210 million stake (£128m) in the social network site back in 2009.

The move could mean Bono is worth on paper as much as $1.1 billion (£695 million), which would be $300 million (£189 million) richer than current number one Sir Paul McCartney.

However, Bono can not sell all his shares all at once but it is believed that part of the money, when released, is expected to go to some of Bono's charity projects.

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