And Bono Is Not A Billionaire Yet!!

The front man of U2, Bono, made headline in the blogsphere that his stake in facebook has made him a billionaire. Little did we know that it was a case of wrong evaluation. The story initially emerge from the stable of UK The Sun was then picked up by British Mirror and it went viral.

Whilst this is going on, Forbes was sitting in a corner looking at everyone like a fool, waiting for the right time to hit us with the true analysis of Bono's facebook shares and his possible take home. Below is an excerpt from their analysis.

Bono is one of many investors who hold shares through private equity firm Elevation Partners. This means that his personal stake is just a fraction of Elevation’s total stake, which counts five managing directors including Bono among its team and divides any returns between those directors and its limited partners.

Elevation Partners reportedly invested $210 million in Facebook over two rounds in 2009 and 2010, purchasing what was believed to be a roughly 2% stake, which has since been divided across its fund’s directors and investors. It is not clear whether that stake is still fully or partially held by Elevation, or if they even still own shares at all.