U2's front-man Bono's investment firm is on track to make close to a $1 billion profit from his shares in the social-networking site, Facebook.
The singer's firm, Elevation Partners, made the clever move of buying a stake in the social networking site for $210m in November 2009, reports The Guardian.
The social networking giant, which was created by Mark Zuckerberg, was this week valued at $65 billion, which means Bono and Co. are about to make around $975 million – more than four times their original investment.
Earlier in the year, Forbes named U2 one of the world’s highest paid musicians, over Elton John, Lady Gaga and Bon Jovi. The band having reportedly raked in $736m – including profits of around $195m – and this is all before news of the Facebook share hike.
Looks like the richest musician in the world just got a whole lot richer.