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Report: Facebook to make Bono richest musician in the world

Bono
BonoAFP - Getty Images

U2 frontman Bono will become the richest musician in the world May 18, overtaking Paul McCartney, according to NME.

Facebook is set to float on the stock exchange and all its early investors are set to earn huge amounts of money from the flotation, with the Irish singer among them.

STORY: Facebook prices IPO at $38 a share; value of company is $104 billion

The U2 singer owns 2.3 percent of the shares in Facebook through his private equity firm, Elevation Partners, which it bought for $90 million (£57 million) in 2009 and now stands to make a handsome return. Given the social media company is currently valued at over $100 billion (£63 billion), this makes Bono's share worth over $1.5 billion (£940 million) and puts him well above McCartney, who is currently the world's richest rock star with a fortune of £665 million, said NME.

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