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Entries in Bono (5)

Saturday
May262012

Did Bono Lose $350 Million or Make $1.7 Billion on Facebook?

Franck Prevel/Getty Images(LONDON) -- When Facebook went public on May 18, the press had a field day with U2 frontman Bono, proclaiming him the world's richest rock star thanks to the 2.3 percent stake in Facebook owned by his private equity firm, Elevation Partners.

Well, with share prices falling steeply during Facebook's first full week of trading, the press is already calculating Bono's losses.

According to the U.K.'s NME.com, Bono and Elevation Partners lost more than $345 million in the value of their Facebook stake as shares fell below the initial public offering price of $38.

NME made its calculation before Friday's market close.  In fact the numbers are worse.  At Friday's closing price of $31.91, Facebook shares were down $6.09, or 16 percent, from the IPO price.  According to NME, Elevation owns 57.5 million shares, making Elevation's stake worth over $350 million less that it was worth at the IPO.

Don't cry for Bono and Elevation though.  According to NME, the 57.5 million shares were acquired for $90 million in 2009, or around $1.57 per share.  That means even at Friday's closing price Elevation's investment was up $30.34 a share or more than 1,900 percent -- a gain of more than $1.7 billion.

Copyright 2012 ABC News Radio

Thursday
Mar102011

Spider-Man Musical Opening Delayed, Director Steps Down

Bruce Glikas/FilmMagic/Getty(NEW YORK) -- Producers of the Broadway musical Spider-Man: Turn Off the Dark say the show's official opening has been delayed until early this summer. It was scheduled to officially open March 15, but producers say the oft-delayed show will undergo creative changes -- and that includes director Julie Taymor removing herself from the day-to-day show operations, though she will remain with the creative team. U2's Bono and Edge, who provided the music for the production, say they will add new songs to the show.

Spider-Man: Turn Off the Dark has been plagued by injuries to cast members, prompting a government workplace safety inspection and causing at least one injured cast member to quit.  Wednesday's announcement of the show's delayed opening came just hours before a preview performance during which a stunt was canceled because the Green Goblin's steering mechanism failed in mid-flight.

Copyright 2011 ABC News Radio

Tuesday
Feb082011

Report: U2's Manager Confirms New Album Release for May

Photo Courtesy - Interscope Records(CANNES, France) -- It looks like U2 is releasing a brand new album in May of this year.

According to the usually-reliable fan website AtU2.com, the band's manager, Paul McGuinness, confirmed during a music industry conference in Cannes, France that the album, which is "largely completed," will be released in time for U2's North American tour, which kicks off in Denver, Colorado on May 21.  He also stated that the group is now working at their studio in France to put the "finishing touches" on the disc.

In addition, McGuinness said the album is being produced by Danger Mouse, as had been reported, but that it wouldn't be called Songs Of Ascent.  Bono had previously said the band was working on an album of that name, which would comprise leftover songs from the No Line On The Horizon recording sessions, but it's possible that that may end up being a different project altogether.

Copyright 2011 ABC News Radio

Thursday
Jan062011

Bono Sees 'Spider-Man' Musical for the First Time

Photo Courtesy - Bruce Glikas/ FilmMagic/Getty Images(NEW YORK) -- Bono, the man who co-wrote the music for the Broadway musical Spider-Man: Turn Off The Dark, finally saw the show he helped create for the first time on Tuesday.

The New York Times reports the U2 frontman was joined by guitarist The Edge, who also co-wrote the music for the show, but had already seen the musical.  So far, the singer hasn't made his opinion of the show public, but sources say he seemed in good spirits after the performance.

The show, which cost a record $65 million to create, has been riddled with problems, including numerous cast member injuries.  Even so, the show is consistently selling out its preview performances and has racked up $1.88 million in ticket sales already.  Opening night is scheduled for Feb. 7 at the Foxwoods Theater in New York City.

Copyright 2011 ABC News Radio

Tuesday
Dec282010

Bono Went Caroling on Christmas Eve in Dublin

Photo Courtesy - U2 [dot] com/ Interscope Records(DUBLIN, Ireland) -- On Christmas Eve, Bono treated some unsuspecting passersby on Dublin, Ireland's Grafton Street to some caroling.  Bono's singing companions were singer/songwriter Damien Rice and Oscar-winner Glen Hansard, who wrote and recorded the song "Falling Slowly" for the movie Once.

The U2 frontman led the group in a sing-a-long of "White Christmas" followed by John Lennon's "Happy Christmas (War Is Over)," according to ATU2.com.

This isn't the first time Bono has gone caroling during Christmas.  He also sang on Grafton Street last year to raise money for the Dublin Simon Community, a group that helps the homeless.

A video of the caroling can be seen at ATU2.com.

Copyright 2010 ABC News Radio







ABC News Radio