You would too, if you woke up knowing you were about to be $1 billion richer!
Today Facebook officially went public with the third biggest IPO in history. In the process, lots of initial investors are raking in lots of dough.
One of these people is Bono, the co-funder of the investment fund Elevation Partners.
Back in 2009, the investment fund bought a stake in the company for $90 million. The company owns about 2 percent of Facebook. When it’s all said and done, Bono is expected to be worth about $1.5 billion, making him the richest musician in the world (beating out former Beatle Paul McCartney who is worth about a billie.)
Today might be a “Beautiful Day” for Bono, but it hasn’t always been easy for the rock legend and his investments.
The company has had a number of misfires. In 2006, the company famously put $300 million into Forbes magazine. The property then proceeded to lose 80 percent of its value over the year.
A year later, Elevation put $460 million into Palm. Palm was then acquired by HP for $1.2 billion and the company only got a return of 1.5 percent.
So what’s the lesson here? It doesn’t matter how many fails you got, all you need is one billion dollar win and you’ll be good.