Reports have been floating around all day that Bono was becoming the world's richest musician. The Washington Times, however, has released video of the megastar denying that claim. Elevation Partners, Bono’s equity firm, bought 2.3 percent of Facebook’s stock a little over a year ago. With Facebook going public on the New York Stock Exchange Today, that $90 million investment is expected to be worth approximately $1.5 billion by the end of the day. This sudden influx of wealth was expected to surpass Paul McCartney, reportedly worth roughly $1 billion, as the richest musician in the world.
On his way to a fundraiser for President Obama this morning, however, Bono shed some doubt on the story. A reported asked him about the story and he responded frankly “I don’t think it’s true.” Facebook’s stock has been fluctuating all day, with some claiming that initial estimates were overhyped. As of 2:30 pm, Eastern Standard Time, Facebook (FB)’s stock is valued at $40.10 per share, up $2.10 from the initial price of $38.00. [The Washington Times]