Bono Makes Bad Investments Too
 |  |
He may be very rich and successful, but that doesn’t stop U2 frontman Bono from making horrible investments.
Recently the long time star has lost $142 million on his investment in Palm, which was bought by Hewlett-Packard for $1.2 billion last week. Bono owned %30 of Palm, which equals out to about $320 million in stock. The investment was highly anticipated and motivated by Hewlett Packard, but it seems the deal they struck takes a lot of money away from the U2 star’s bank account. The deal put the value of Palm shares at $5.70, which dropped from $18.09 last year. Not all specific details are known of investment, due to obvious reasons of certain privacy in these deals.
This may be a loss to Bono, but according to a Wall Street poll, he should be used to this by now. This isn’t the first bad investment the Irish rock-star has made, and has supposedly reached the top of the list for most money blown on bad investments. It’s not so much that this one was bad, but the timing most certainly was. Don’t fret though, Bono, your band rakes in more than enough money in just tours, let alone with everything else you do. You’ll gain it back in no time. =)
Posted on 05/4/10
293 views
Back To Blog - Tags: bono, Editorial, Flopped, U2
|
|
Leave a comment
Related posts:
0 Comments
Comments RSS