LOS ANGELES (LALATE) – Bono’s Facebook net worth surged Friday. Bono’s net worth jumped today because of the number of Facebook shares Elevation Partners, Bono’s private equity firm, obtained from an investment in 2009. From David Choe, to Yuri Milner and Peter Thiel, Bono is one of the earlier investors who were impacted by today’s FB stock IPO. But news reports that Bono’s personal stake in Facebook is currently at $1.5 billion have seen been proven as simply false.
Yuri Milner and Peter Thiel are usually names mentioned in stories about initial Facebook investments. But other names included two artists being reference today.
Among them are David Choe. In 2005, Facebook hired the artist to paint part of the company’s first Facebook headquarters. Rather than get paid sixty-thousand dollars in cash, Choe asked for shares, and got them. Choe, a graffiti artist, is reportedly set to get a two hundred to five million dollar position with Facebook going public today. He once told Barbara Walters “It’s gonna sound horrible for me to say money is meaningless. But everyone’s like: ‘What are you gonna do now, now that you have all this money and freedom?’ I’m like, ‘I’m still gonna do whatever I want, except more people are just gonna bother me now.’ “
Bono, however, got his investment four years later. In 2009, his private equity firm, Elevation Partners, bought a 1.5 percent stake in Facebook. At the time, that investment was reportedly worth $90 million. News report claim that Elevation was able to increase its position to 2.3 percent thereafter.
While initial news reports today claimed that Bono’s personal Facebook position will be worth $1.5 billion, those reports have since been indicated as erroneous. Those reports mistakenly credited the entire Elevation position as being owned solely by Bono.