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Bono Buys A Bigger Stake In Facebook

June 29th, 2010 1:30pm EDT post commentPost a comment favoriteAdd to My News

BonoIrish rocker Bono is cashing in on the popularity of social networking website Facebook.com - the U2 frontman has nearly doubled his investment in the company.

Bono and bosses at his private-equity business Elevation Partners have ploughed another $120 million into the privately-held site, bringing their total investment in Facebook to $210 million. According to a letter to investors published by the TechCrunch blog, Elevation bosses were able to buy shares from insiders on the secondary market.

The deal could be the start of an investment turnaround for the rocker, whose blunder backing troubled cell-phone maker Palm Inc. won him the dishonor of being named Worst Investor in America by financial journal 24/7 Wall Street earlier this year. Bono's company ploughed nearly $500 million into the debt-riddled firm, the maker of Treo and Centro smart phones, in December 2008, before stock shares plummeted.

Editors highlighted "an unprecedented string of disastrous investments which even bad luck could not explain" as the reason for choosing Bono, adding that California-based Elevation Partners is "arguably the worst run institutional fund of any size in the United States."

http://www.starpulse.com/news/index.php/2010/06/29/bono_buys_a_bigger_stake_in_facebook

 

 

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hey, you cant expect him to be great in everything.... i'd rather go to concert hearing a amazing singer with bad sense of doin business, then goin to a great business-man who's a lousy singer...wink.gif

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It is not so simple i believe. They should spend their money in the causes they defend and not by this way, it's ugly for their fans (especially those who try to collect money on their names) Shame on the people who think it s not big deal it s huge. Their actions have automatically consequences on their carrer in any case. So of course you can say everything you like to minimize the thing until the time where it will be to late

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I'm sure that a lot of Bono's money as well as his time is spent on the causes he supports - if he didn't he wouldn't know so much about these causes and he would dedicate his time so generously to lobby world leaders to support his cause. We can clearly see the time he spends on his causes - whether you agree with him or not, no-one can argue that he is not devoted to what he believes so passionately in. Read U2 by U2 and there are sections about when he was setting up DATA and ONE as well as live8 etc... lobbying politicians and still making albums - no that is someone who seriously believes in the causes. And the amount of money he and the rest of the band put forwards to defend these causes is really, to e honest, nothing to do with us. It is their money and they earned it. I have no interest whatsoever in how much physical cash Bono has 'donated'. The same as I won't tell people how much money I have donated to charities this year. That is a private matter and I do not see how it relates to Bono's investment company which is a business not a personal bank account_74615.

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Where you are wrong and you don't realise it, that's Bono/U2 represent they are watched by the critics due to their position .. they have count to give

When Bono meets Presidents he receives money he is just an ambassador.. This money they spend on the facebook project it's our money you need to understand

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Where you are wrong and you don't realise it, that's Bono/U2 represent they are watched by the critics due to their position .. they have count to give

When Bono meets Presidents he receives money he is just an ambassador.. This money they spend on the facebook project it's our money you need to understand

How is it our money?

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I don't understand how it is our money... For the causes, the money they spend is either their own (earned) or ours (donated to the cause). The money they invest in various business deals is their own (earned). And I agree with Zhivvy, their donations, and their business dealings are their own business. The causes / charities they represent are accountable to their donors. But these are completely separate issues.

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us i mean all those who spend money in their music (and it's getting less and less it's true but look what they do)...

To conclude about this personal business idea ...

if you don't feel concern it 's good for you .. when i heard Bono won the dishonor of being named Worst Investor in America by financial journal 24/7 Wall Street earlier this year i feel a bit like ..

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us i mean all those who spend money in their music (and it's getting less and less it's true but look what they do)...

To conclude about this personal business idea ...

if you don't feel concern it 's good for you .. when i heard Bono won the dishonor of being named Worst Investor in America by financial journal 24/7 Wall Street earlier this year i feel a bit like ..

But that is their earnings  - we buy the music not hand over money to the band personally and tell them what to do with it. If Bono wants to invest his wages in businesses he can. No one can tell us how to spend our money which we have earned. I am a teacher so therefore work for local government. My wages come from tax payers money. But I do not expect my neighbours to come knocking on my door and tell me what I can and cannot spend my wages on as some of their taxes have paid my wage. 
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but do not compare yourself to them please ;)

 

they have count to give and they do .. for exemple last year or bit before they invest money in a music school in Dublin because they had to .. When you are a celibrity you have count to give ..

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