Could very well be but don't you find someone investing money in a Lithuanian shopping centre really random and dodgy. Why would you even think about investing into a Lithuanian shopping center. It's that random and odd it's sounds abit fishy to me.
Just imagine the conversation, well today I'm gonna invest million of pounds into a shopping center in Lithuania
it's not your average every day investment is it.
The uk in general hate Bono, like really hate him. This will fuel that fire even more. It will blow over and Bono will still me hated
Exactly right. He'd be hated either way. If it wasn't this, it would be something else. It's just, as someone else mentioned, the idiots who blindly hated Bono, got what they thought was an issue of substance to hang their hats on when the Netherlands thing broke in 2006.
As for Lithuania......The former Soviet block, in 2005, was emerging from the chaos that was the 1990s transition to capitalism. It had been feeding frenzy with no rules for anyone- except the oligarchs who made them up as they saw fit. By 2005, rules were in place, there was talk of a lot of those countries joining the EU and Putin either wasn't or wasn't perceived to be anywhere near the threat to Europe and the world that he is today.
Eastern Europe was showing incredible promise at the time in much of the investing world. Probably second only to Brazil. Anyone managing money for someone of Bono's level of wealth would've looked at investing there at that time.
Basically this.
In general it's ridiculous that someone who has spent so much time physically lending aid (which shows a commitment far beyond simply writing checks) is going to be called out as a hypocrite. He and the band have so much money, it's not a surprise that a lot of it is invested in various ventures, and that some of them might be shadier than others.
It's not like he's exploiting or profiting off the countries and people his charity organizations are helping. That would be legit hypocrisy.
100% this.
That physical part of Bono's work- going to Africa for weeks at a time, visiting refugee camps and dragging policymakers with him, coming to DC and testifying before Congress on the refugee crisis. We could go on. That is always so overlooked. He cares so little about the causes his accountant just writes checks to that he spends all this time and energy when he could be doing literally anything else.
Who do people think pays for this? Them through their taxes? Bono pulling money out of charities? Of course not. It's out of his own pocket. Travel, food, etc. Of course, it's a drop in the bucket for him, but not the point. That's to say nothing of the clearly immense amount of homework he does on the issues. He expects to be held to the same standard as anyone else who formally testifies before Congress. It's not like the myriad of celebrities who pop off some vague "resistance for the women and the poor and human kind" type statement as they run by a microphone.
To me, Wilbur Ross has off shore havens that are exploitative. Loopholes, illegal shelters, etc. Bono (with the other 3 and Paul) did something anyone can do on google. They compared international tax rates on royalties and found the Netherlands to be the most advantageous to them. So they headquartered, physically, there. All above board. No shady dealings. No one paid off. No one going to jail. Ross's Bank of Cyprus, I believe, will send many people to jail and will likely bring down Trump or at least play a major role in it. apples and oranges.
Also, since the band members remain residents of Ireland, they pay personal income tax and value added tax to the Irish government. They're probably 4 of the top taxpayers to the Irish government. Plus the business ventures in Dublin (The Clarence, etc) pay taxes as well.
Does all this mean people have to agree with Bono's financial moves? Of course not. However, they are objectively not sketchy, illegal or hypocritical. Nor did any tax benefit they reaped come from special favors or connections.
