Bono, lead singer of Irish rock band U2, who travels the world preaching that everyone should pay higher taxes but then moved the band’s corporate headquarters to the Netherlands in an effort to avoid paying higher taxes, won’t have to worry about that issue this year. Because he lost his Irish ass in the stock market in 2009.
The San Francisco Business Journal tells how Bono hit some sour financial notes:
U2 singer Bono’s investments into Elevation Partners, which has offices in New York and Menlo Park, have helped make him the “worst investor investor in America,” according to the online publication 24/7 Wall Street.
With large investments in Palm, Forbes, and Move.com — “an unprecedented string of disastrous investments which even bad luck could not explain” — Elevation Partners has earned the distinction of being “arguably the worst run institutional fund of any size in the United States,” 24/7 Wall Street asserts.
…Elevation bought 25 percent of Palm in 2007, and the company’s stock has since tanked – down to $3.65 from $18 last September…
Elevation Partners put $300 million into Forbes’ online operations in 2006, and the company’s total value has dropped from $750 million to “perhaps $100 million.”
Elevation put $100 million into Move.com, which owns home and real estate websites, and company shares subsequently lost 50 percent of their value, 24/7 noted.
There’s more, but our uncharacteristic schadenfreude seems to be getting the better of us. Suffice it to say, if Bono had been around in 1845 he probably would have invested in potatoes.
Source: San Francisco Business Journal
This post was last modified on April 1, 2010
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At a Maritime concert
Bono is at a U2 concert in Halifax ,Nova Scotia, when he asks the
audience for some quiet.
Then, in the silence, he starts to slowly clap his hands.
He says into the microphone, in a deep solemn voice...
"Just for a moment, think outside yourself... Outside this arena...
Every time I clap my hands, a child in
Africa dies."
A loud Newfy voice from near the front pierces the moment...
"Well, lard tundering Jesus ya stupid arse, stop yer fockin' clappin', then!"
Gern in an interview I believe it was Rolling Stones or something he said that he has an issue with his eye(s). Some condition that makes it difficult for him to see especially in bright lights which because of who he is are constantly on him when he is out and about. He did admit that a bit of it was also a status symbol so he did admit to be a of arrogance in his constant use of sunglasses even at night.
I have lost all respect for Bono after he dissed Bush last year or so. I mean President Bush was THE man for Africa during his entire Presidency. He and his wife did so much for African people especially women and children that I am shocked (well should I be?) that he wasn't nominated for a Peace Prize after he left office. Bono rants and wails about how much he cares for Africa, and the one President above all others before him and during his time that cared so much for the continent got dissed by Bono. It was disgusting and I have no respect for this man at all.
I agree with Matthew this will improve my sleep tonight to know that some degree of justice has been meted out for Bono and I hope that there is more to come.
bono like all rich liberals wants the poor to cut back so the rich liberals will have more.
I would have awarded him the Biggest Douchebag Award....
gern, I can't answer that question openly while on such a forum. So I will just say, that is probably a question that Barney Frank would be best suited to explain!
I've always wondered...what's up with the goggles?
He proudly accepted knighthood of the queen, and so he severed his ties from true ireland.
and they have cursed him for it :D his stupidity and arrogance has finally come round him.
I will sleep well tonite.