Elevation Partners, the private equity firm backed by bad-backed U2 frontman Bono, has stumped up $120m for just over 0.5 per cent of Facebook. The deal values the dominant social network at $23bn, and takes Elevation Partners' total stake to 1.5 per cent, having invested $90m at a $9bn valuation last year. Reports earlier this …
Facebook is for the weak, mindless, masses.
Individually, people can be clever, but together they are thick as crap.
Your post makes no sense in context of the discussion.
Bono can be thick as crap all on his own
The poor and starving, remember them?
Surely you remember begging ordinary people with a couple of quid to spare a month to donate this "spare" cash to help the poor and needy/
Two faced fucking twat.
I expect he's given a few quid to charity himself here and there. When's the last time you oh forget it. YEAH BOO BONO WHAT AN OBVIOUS WANKER etc.
I don't particularly like Bono, but what do you think he should do with his money? Keep in a savings account so that other twats like you don't have a chance to make comments on how he manages his wealth? Or should he transfer the lot to your account and see if you can manage it better?
..is that Joe Bloggs in the street doesn't go onto the world stage banging on about how we should all do more for charity whilst making nice little nest eggs.
How about stick 10 million in the bank and dish out the other £110 million, or is that not enough to live on these days?
Here is a challange then.
I will donate 95% of my free monthly money & all my savings for one year if Bono does.
Money meet mouth.
It’s a matter of context, Bono complains about the Irish government not giving enough money to the third world and fist chance they get U2 move their copyright holding operation to Holland because they can pay less tax on it.
The only good thing about Bono hurting his back is that it will be a while before he can climb up his own arse again….. Well maybe not.
>fist chance they get U2 move their copyright holding operation
That's a rather simplistic rant. First off U2 is not only Bono, he personally might not have had any say in the matter. Second U2 as a group of people might not own a controllinng interest in the copyright of their own songs.
Pay his taxes
and stop trying to take everyone elses money
Prepare for the imminent collapse of Facebook.
Bono No No No No.
Perhaps Bono's financial judgements are as sound as his is-it-cool-to-wear-sunglasses-indoors judgements.
Bono + Facebook
Here's your required title, you carping martinet, you!
"Bono's fund could use a hit. It sank hundreds of millions into Palm's attempted revival, which ended in a fire sale to HP this year."
Gladdens my heart to know this. Thank you for pointing this out, and bringing some badly needed joy to an otherwise sombre day.
Here we go again
A successful person so let's slag him off, what makes this story even more of appealing for the disgruntled saddoes of the green-eyed monster religion is the added target of facebook.
The blokes worth a fair bit, he's got a 1.5% stake in facebook, it's hardly going to break him and if it does pay off he'll be worth quite a bit more. Why should it fail because he has invested in it. Previous bad investments don't indicate anything, he's not running the company in any way. Investments are a risk, you win some and lose some, all that matters is that the wins out number the losses.
As for AC @ 10:44, you don't know how much Bono gives financially, neither do I. What I can see is that he gives up his time which I'm damn sure in monetary terms costs him more than you or I could give.
Make Bono History
For just €2.99 a month, you can give hope to the ears and eyes of the poor and misfortunate of the developed world. €2.99 will buy a half-decent CD single by a non-preachy recording artist, alleviating the sensory torture that is U2.
Join us. Together, we can Make Bono History!
Bonio should stick to doing dogs food...
Facebook valued at $23bn? Based on what? Ad revenue?
If that is the case it proves that marketeers really do have more money than sense.
Bono cashing in??
Not surprising as the nob sold out when U2 released The Fly.
I remember when they were good, etc... </sigh>
Go to the market and buy some Apple at about 4 times revenues.... or Google at about 6 times revenues.
IMHO if/when facebook does IPO it will be the next lastminute.com - there's no way the market will stump up 29bil for this nonesense.
... and it will be very very funny :-)
The market may pay 5-10 times multiple though, which will still be a lot.
Credit where it's due I reckon; he should be applauded for investing in the technology sphere. Okay, it's just Facebook, but it IS a fairly major piece of social software and if it DOES pay off, it might show that net applications can be viable and encourage more investment.
Besides, it's not like he's Rupert Murdoch or anything.
What else should he do with his money? At least it's not going up his nose!
Better that he buys a bit of FB than makes wild donations to 'worth while causes' like the IRA (again).....
Bono & the IRA
I'm not exactly his number one fan but saying he donated to the IRA is a bit strong. He's come out on several occasions and denounced them and was even on an IRA death list at one point.