Facebook IPO will make U2’s Bono a billionaire

As Facebook prepares to go public, five key figures, including Bono and LinkedIn founder Reid Hoffman, are set to make billions.

The social networking company is poised to fire the starting gun on a flotation that’s set to value the world’s biggest social networking site at up to $100bn (£60bn).

The company that Mark Zuckerberg founded in his room at Harvard University in 2004 is expected to file to sell shares to the public as soon as this week.

Bono is also the co-founder of investment firm Elevation Partners. Its stake in Facebook is almost certain to be valued at over $1bn when Facebook goes public. The star is likely to make as much from that process as U2 has earnt in its entire career.

Source: Belfast Telegraph