What is Bono's net worth?
Bono is an Irish musician and political activist who has a net worth of $700 million. Bono is best known for being the lead singer of the band U2. With U2, he has released 14 studio albums and sold over 170 million records worldwide. U2 has embarked on numerous successful tours, with their 360° Tour (2009-2011) setting the record for the highest-grossing concert tour of all time, earning over $736 million. Bono's distinctive voice and heartfelt lyrics have garnered numerous accolades, including 22 Grammy Awards and an induction into the Rock and Roll Hall of Fame in 2005.
As a tireless advocate for social justice, Bono co-founded DATA (Debt, AIDS, Trade, Africa) in 2002, which later became ONE Campaign, an international advocacy organization fighting against extreme poverty and preventable diseases. He also co-founded (RED) in 2006, a campaign that partners with global brands to raise funds and awareness for the fight against HIV/AIDS. For his humanitarian efforts, Bono has been recognized with several honors, including the Nobel Man of Peace Award in 2008 and being named a Knight Commander of the Most Excellent Order of the British Empire (KBE) in 2007.
Did Bono Become A Billionaire From Facebook?
There's a popular rumor that Bono became a billionaire after investing in Facebook through his private equity fund, Elevation Partners. It is true that Elevation made a pre-IPO investment in Facebook of roughly $210 million. At its peak, before they unloaded, the group's investment was worth around $1.5 billion. The part of the story that most people don't understand is that Bono is one of six founding partners of Elevation AND that Elevation is only entitled to around 20% of the profits produced by its investments. When it's all said and done, Bono personally made between $40 and $50 million on this Facebook investment. Still a very amazing return!
Early Life
Bono was born Paul David Hewson in Dublin, Ireland, on May 10, 1960. He was raised in the suburb of Finglas by Iris and Brendan Robert "Bob" Hewson. Iris passed away when Bono was just 14 years old. He grew up idolizing David Bowie, Bob Dylan, and Leonard Cohen and was involved with friends in a surrealist street gang called Lypton Village. The gang gave Bono his nickname, Bono Vox of O'Connell Street, in which the first part of the name, bonavox, translates to "good voice." He chose to use Bono as a stage name, however, everyone in his personal life also now calls him Bono, including close family and friends.
U2
Bono formed his band U2 at the age of 16, in response to an ad on his school's bulletin board. Joining him in responding to the ad were David Evans (The Edge), and brothers Dik and Adam Clayton. Beginning under the name Feedback, the band played Rolling Stones and Beach Boys cover songs during their initial jam sessions. When they realized their covers were not quite working, they began to write their own songs. Bono started out singing, playing guitar, and writing the band's songs. Feedback changed their name to U2 (by way of The Hype) in 1977. U2 signed with Island Records in 1980. Their first singles and albums failed to chart, and the band even talked of breaking up due to their lack of success. But by the release of 1983's "War," U2 had begun to make a name for themselves and gain international attention. The lead single for the band, "New Year's Day," reached No. 10 on the UK charts and became their first overseas hit, with significant airplay outside of Europe. The album was the band's first commercial success, debuting at No. 1 in the UK. By the release of 1987's "Joshua Tree," their fifth album, the band had become a household name. Their 1991 album "Achtung Baby" showed a more personal side of Bono as he wrote lyrics that were inspired by his private life.
U2 has gone on to become one of the most popular bands in the world, releasing 14 studio albums, consistently selling out live venues (raking in millions of dollars per tour), and winning 22 Grammy awards. Bono also won a Golden Globe in 2003 for Best Original Song for "The Hands That Built America," written for the film "Gangs of New York." Bono has written the lyrics for almost all of U2's songs. He is known for his rebellious tone, writing lyrics that are both politically charged in nature and that contain a theme of social justice. Bono and the other members of U2 were inducted into the Rock and Roll Hall of Fame in 2005. Bono has been ranked on many lists of greatest singers and songwriters of all time throughout his long-spanning career. On top of his success with U2, Bono has also collaborated with hundreds of other musicians including Frank Sinatra, Johnny Cash, Ray Charles, and Bruce Springsteen, among many others. Bono and The Edge also wrote the music and lyrics for the Broadway musical Spider-Man: Turn Off the Dark.
(Photo by MJ Kim/Getty Images)
Philanthropy
Bono has become a well-known social activist, performing in the Live Aid, Band Aid, and Live 8 concerts, and campaigning for third-world debt relief and greater international involvement in the African AIDS crisis. He has been on Time's list of 100 most influential people several times. In 2002, Bono co-founded the organization DATA (Debt, AIDS, Trade, Africa), which he followed up with Project Red, a well-known initiative against disease in Africa. Bono was awarded the Pablo Neruda International Presidential Medal of Honor in 2004 from Chile. In 2007, Bono was named as an honorary Knight Commander of the Order of the British Empire and was formally granted a knighthood in March 2007 in Dublin. That same year, he won the NAACP Image Award. Bono was given the annual Man of Peace prize in 2008, awarded by several Nobel Peace Prize laureates.
Other Ventures
Aside from his activism, Bono is also an accomplished businessman. In 1992, Bono bought and refurbished the Clarence Hotel in Dublin, converting it from a 70-room establishment to a five star, 49-bedroom hotel. He also owns a vast real estate portfolio and serves on the board of Elevation Partners, a private equity firm. In 2019, Bono joined the Board of Directors of Zipline drone delivery.
Personal Life
Bono married Alison (Stewart) Hewson, a fellow activist and businesswoman, in 1982. They have two daughters, Jordan and Memphis Eve, and two sons, Elijah Bob Patricius Guggi Q and John Abraham. Bono is a practicing Christian, which he has said spurs his work as an activist and a humanitarian.
Bono suffers from glaucoma, which is why he is almost never seen without sunglasses. In May 2010, he suffered a spinal injury while on tour and was taken to a clinic in Munich, Germany for emergency neurosurgery. In November 2014, Bono was involved in a cycling accident that nearly upended his ability to play guitar. He underwent five hours of emergency surgery to repair his shoulder blade, humerus, and pinky finger.
Read more: Bono Net Worth
0 Comments