Bono among the 10 celebrities who lost big financially in 2010.

[Dfit00]

While it's great U2 raked in $130 million last year as the world's biggest-selling music act, according to Forbes, that sum wouldn't even cover the amount Bono lost on his worst investment.

When Bono bought a stake in private equity firm Elevation Partners in 2004, it gave him a nearly 30% stake in Palm, including stock worth an estimated $325 million. In the pre-iPhone smartphone market, that wasn't too shabby.

When Palm fumbled the Pre, however, and the iPhone surged in market share, that investment started to look a lot more shaky. It got worse when H-P(HPQ_) bought Palm for $1.2 billion last year, but only valued Palm shares at $5.70 when they were trading at $18 just a year before. The whole deal set Bono back $140 million and, while it's tough to top U2's Pop album as a career low point, his disastrous Palm investment trumped it in Bono's typically grand fashion.

10 Celebrities Who Lost Big Financially - TheStreet

What a great way to socialize with Steve Jobs by buying from him a $15M co-op at the San Remo in New York, promoting the U2 iPod in 2004, founding the (PRODUCT)RED campaign while endorsing Apple, and then losing $140M due to the Apple iPhone.

I could go on but I better shut up.

 

[Moser]

Yeah, now we should go point and laugh.

 

[MikeyJB]

Yeah but didn't he manage to get a % stake in Facebook as well? I don't think that's gonna lose him money

 

[Headache in a Suitcase]

Bono shouldn't make investments.

 

[lemonfly]

"Palm" and "Spider-Man" are probably Bono's two least favorite words. Spider-Man making calls on a Palm is Bono's vision of hell
And Pop was "a career low point"? What a complete tool.

 

[mrex]

I think this is good news. We can hope that when things like this fail for Bono, he will undersatnd that he can, and should, always be focusing on making music.

 

[Headache in a Suitcase]

forbes and bio ware/pandemic weren't exactly winners either.

 

[doctorwho]

The article is incomplete.

I have to do my homework, but a few months ago, while reading the above news about the Palm, there was another article about how Bono's investments soared. In other words, one flopped and one took off. I just cannot remember what it was.

Bottom line, like most investors, some things work, some don't. I'm sure he's got counter-balances to his losses. Even the mighty Donald Trump stumbled several times (and with real estate crashing again, Trump's portfolio probably took another hit).

 

[BVS]

Investments come and go, this isn't news...

 

[coolian2]

yeah, i really feel so much schadenfreude that some multi millionaire lost a little bit of his massive millions on a dud investment, even though he's got more than i could dream of earning in reserve.

 

[greety]

The article is incomplete.

I have to do my homework, but a few months ago, while reading the above news about the Palm, there was another article about how Bono's investments soared. In other words, one flopped and one took off. I just cannot remember what it was.

Bottom line, like most investors, some things work, some don't. I'm sure he's got counter-balances to his losses. Even the mighty Donald Trump stumbled several times (and with real estate crashing again, Trump's portfolio probably took another hit).

That was probably his Facebook investment you read about, I read it too and recently I found this on Perez (yeah I know, but he's the only one who got some figures, dunno if they are correct tho) If they they are just about right, well, then Bono did quite well..

Last year, U2 frontman Bono handed over $195 million Mark Zuckerberg and became an investor in Facebook. In just a year, his investment has come back to him three times over as his share in the social networking site is now worth $728 million!

 

[doctorwho]

That was probably his Facebook investment you read about, I read it too and recently I found this on Perez (yeah I know, but he's the only one who got some figures, dunno if they are correct tho) If they they are just about right, well, then Bono did quite well..

It could be. I really cannot remember.

Either way, if Perez is correct (and he's actually a day or two behind other sites, so I'm sure he is), there's the proof I was seeking. One flopped (Palm), one soared (FB).

I buy some stocks too (think small). But I check on them every day to see how the market overall is doing. And sure enough, every day, some rise, some fall. One just hopes that overall more rise than fall. That's how a portfolio builds.

Given Bono's earning potential, I'm also not worried that he'll be living on the street somewhere. U2's new albums still sell in the millions in an era of illegal downloading. And their tours are ridiculous. Throw in catalog sales, licensing, iTunes, books, etc., and Bono isn't exactly scrounging for change.

In contrast, I just found a quarter. SWEET!

 

[LemonMelon]

Bono’s Facebook Investment Pays Off: Shares Quadruple In 1 Year | TheBlogIsMine Dot Com

Yeah, he's doing alright.

 

[BluRmGrl]

Bono lost money on an investment. In other news, some people somewhere are fighting over something.

It happens. It just happened with Bono on a rather large scale. I think he's got the change to spare.

 

[corianderstem]

Bono lost some money, and then spent the night crying himself to sleep, wiping away his tears with all his other money.

 

[Danny Boy]

I paid $10 for a fluorescent lightbulb on Saturday and it didn't work. I think that from a percentage-of-net-worth standpoint, I lost about the same amount as Bono did on Palm.

 

[coolian2]

I paid $10 for a fluorescent lightbulb on Saturday and it didn't work. I think that from a percentage-of-net-worth standpoint, I lost about the same amount as Bono did on Palm.

return that shit, then you'll be a step ahead of bono.

 

[Pop Artist]

Bono shouldn't make investments.

No one with Bono's kind of money plops it into the bank earning 1.5% interest...they all make investments.

 

[MrsSpringsteen]

He must spend all his free time now clipping coupons No wonder Spiderman is so bad.

 

[patternshirt170]

elsewhere it's been rich pickings... [apologies if it's been posted before]

 

[coolian2]

No one with Bono's kind of money plops it into the bank earning 1.5% interest...they all make investments.

if i only got that kind of interest i'd find a better bank

 

[drmjwilson1]

apparently facebook has paid off....



Bono's Facebook stake soars to $1 billion, but little hope for the rest of us

 

[digitize]

apparently facebook has paid off....



Bono's Facebook stake soars to $1 billion, but little hope for the rest of us

Why the fuck hasn't he donated that to me yet? For all he says about making music for the people... Jesus Christ, what a hypocrite.

 

[Niceman]

Wow... this news does feel a little funny just as they ask us all for $300 to buy Achtung again...

 

[Galeongirl]

Nobody asked me anything. I just saw it was offered. That doesn't mean I have to buy it.

 

[BVS]

Wow... this news does feel a little funny just as they ask us all for $300 to buy Achtung again...

Seriously?

 

[VintagePunk]

Nobody asked me anything. I just saw it was offered. That doesn't mean I have to buy it.

I don't get what's so hard about this to understand. There are many options. But the one you can afford. Or none. I don't think Paul McG is holding a knife to anyone, forcing them.

 

[Fly-2000]

Bono lost some money, and then spent the night crying himself to sleep, wiping away his tears with all his other money.

Okay, I laughed at that one more than I should've had any right to.

 

[Galeongirl]

I don't get what's so hard about this to understand. There are many options. But the one you can afford. Or none. I don't think Paul McG is holding a knife to anyone, forcing them.

He doesn't have to hold a knife. Just the thread that he's taking off his shirt in front of me is enough to make me buy that Uber box.

 

[Burlington77]

10 Celebrities Who Lost Big Financially - TheStreet

What a great way to socialize with Steve Jobs by buying from him a $15M co-op at the San Remo in New York, promoting the U2 iPod in 2004, founding the (PRODUCT)RED campaign while endorsing Apple, and then losing $140M due to the Apple iPhone.

I could go on but I better shut up.

Ahhhhhhhh now the extreme overpriced Achtung makes sense lol