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To: BW who wrote (44714)8/17/2011 5:25:01 PM
From: Bucky Katt  Read Replies (2) | Respond to of 48465
 
Of interest>

Thanks a billion: How U2 star mocked as poor investor in the U.S. cleaned up with Facebook shares

Just last year he was derided as ‘the worst investor in America’ by a financial blog.

But Bono’s fortunes have now changed after one of his Facebook stakes quadrupled in value to nearly $1bn.

The U2 singer’s investment firm Elevation Partners paid $210m for a stake in Mark Zuckerberg’s social networking site in November 2009.

But after another investor sold his stake, pushing up the price, Elevation's stake soared to around $975million (£600million) in value, an increase of a staggering 400 per cent.

Facebook shares are not available on the public markets but are traded on SharesPost, which is a secondary stock market that lets stockholders sell shares before a company goes public.

The blog that called Bono the worst investor – 24/7 Wall Street – will need to look for someone else to take the title on this evidence.

Read more: dailymail.co.uk