U2 & Money

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Saracene

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I took this quote from Independent, which featured yet another profile on Bono. I thought that it was an interesting one in the light of "integrity debates" we always have on this board:

"One associate says: "Bono is a very personable and sincere man; but never forget he is a breadhead. He is as much into money and the bottom line as Madonna and Mick Jagger. U2 were deeply unhappy when their Zooropa tour didn't make the money they hoped. Their manager Paul McGuinness is a smart manipulator and Bono keeps an eye on these things as well. They make a public virtue of not accepting sponsorship for their tours; but they are not averse to the bars closing early so that punters with money in their pockets will drift towards the merchandising stalls. And of course they are exempted from paying tax in Ireland under laws favouring Irish artists."

He has also become quite a property owner in an affluent part of Dublin. He's generous with it, and has let former friends who have fallen on hard times, including Shane McGowan of the Pogues, hang out there. But he knows the value of an investment."
 
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Hi
 
OK, U2 ARE feckin? rich! But... who cares?

If every millionaire would write songs like U2 did then this would be a fine world!

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beLIEve
 
Do they really not have to pay ANY taxes in Ireland? I find that hard to believe. Or is it that there are some loopholes for Irish artist? I'm really curious. I can't believe he wouldn't have to pay any taxes at all.
 
I would expect nothing less of him. To be so aware of the state of the world, yet oblivious of your own finances would be stupid. That he handles his earnings wisely and invests and is, in addition to an incredible performer, an acute businessman, is very encouraging. This is another one of the reasons why I like this band.

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"Love is a verb..."
enterangell@cs.com
 
They may have to pay some property taxes, but ALL their earnings are income tax free!
 
WHAT???? All their earnings are tax free? Why??? That is unbelievable. So, in Ireland the rich don't have to contribute to the community in which they live? Economically speaking I'm very conservative, but that is just wrong.
 
Originally posted by partygirl:
So, in Ireland the rich don't have to contribute to the community in which they live?
no artists don't have to pay them (not evryone who's rich), probably because they contribute to the community in other ways

U2 is one of Ireland's most profitable companies anyway

I agree that artists who make as much money as Bono & Co could miss some of it (though we don't know how much they give back to the community in other ways then taxes)

I think making it sound like U2 stay in Ireland most of all because of the tax laws is an overly negative approach

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Salome
Shake it, shake it, shake it

[This message has been edited by Salome (edited 03-04-2002).]
 
The Band made 100 million dollars from POPMART. That is what the contract they signed with promoter Michael Choel. The POPMART tour itself GROSSED $172,000,000 from 93 stadium shows worldwide and is the 3rd highest GROSSING tour of all time! Only two Rolling Stone Tours have made more money worldwide.
 
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