Facebook float makes significantly less than reported
michael baggs
09:24 20th May 2012

U2 frontman Bono has denied rumours that this week's Facebook stock market launch earned him over a billion dollars.

Bono owns shares in the social network through his investment company Elevation Partners and, when Mark Zuckerberg placed his company on the stock market this week at a price of $100 Billion, it was reported that Bono's own stock was subsequently worth around $1.5b.

However, the U2 singer has come out to deny these claims, calling them a joke.

"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 told MSNBC

Adding: "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…

Elevation Partners bought 2.3% of Facebook for $90m in 2009.