Bono became a billionaire today...

[max_tranmere]

Paul Hewson, the singer with Dublin band U2, and better known as Bono, has became the wealthiest rock star on the planet after his investment in Facebook filled his bank account handsomely following the company's multi-billion dollar flotation today. I say good luck to him, although I have no idea what someone is supposed to do with all that money.

I also think that when U2 became tax exiles, and now this thing of band members investing in corporations to make vast wealth, they have basically become The Rolling Stones - the band is simply a corporation and run in a way to make as much money as possible. What are people's views on this sort of thing: should artists stick to being artists and not businessmen, and is it a sell-out of your integrity to basically turn your band into a commercial business that is run like, and with the same aims, as Coca-Cola or Apple computers?

Here is an article about billionaire Bono:

[Flat_Eric]

I can never understand the obsession of some people with accumulating as much personal monetary wealth as possible just for the sake of it.

As you say, what do you do with all that money? How many yachts, sprawling luxury homes and trophy bimbos does anyone need? And you can't take it with you when you go.

As far as I'm concerned, anyone should be able to live quite happily (and very luxuriously) on - what - ten or twenty million? Who really needs any more than that. What's the point?

- Eric

[Gusset Sniffer]

He is a bit of a contradiction to me.

He will not pay his tax in Ireland like he should and yet he has done brilliant work in the areas of debt relief, AIDS, fair trade in Africa.

Mind you if you want beautiful women in your life you need a lot of dosh.

[David Johnson]

"What are people's views on this sort of thing: should artists stick to being artists and not businessmen, and is it a sell-out of your integrity to basically turn your band into a commercial business that is run like, and with the same aims, as Coca-Cola or Apple computers"

Well, I would be surprised if he wasnt just mainly an artist. U2 have made a load of dosh from performing and the investment fund in question has made over a ?1bn profit on the Facebook shares in 4 years.

Maybe I am totally wrong but I dont see him turning up to business meetings all the time. And I guess if any band is going to go into the world wide arena tour market then the only way they can do it is by having a big team around them and a commercial operation.

As for the Facebook share price as part of the flotation, this seems like dotcom bubble mark II. As one share analyst said "Now you have wasted all your time on Facebook, you can do the same with your money".

[Arginald Valleywater]

Love or loathe him he has spotted a niche and done damn well.

[andy ide]

You can be an artist and a businessman at the same time. I'm sure U2 thought they were both around the time of Achtung Baby. I'm sure Damien Hirst believes that his business operation is part of his art.

But to look at opposing ends of the spectrum, I've long marvelled at the sheer, well, madness of David Bowie in the 1970s -- achieving great success then turning his back on what got him there, again and again and again (the biggest of which must have been cracking the States with Young Americans then making Low two years later). In a way, for me, that was the greatest art. As Kris Kristofferson sang: "Freedom's just another word for nothing left to lose". Then think of Bowie.

And at the other end, yes, there are The Stones. I don't begrudge them becoming a corporation. It's clear that Jagger's a very good example of artist/businessman. And they're still making good music. But why aren't they doing a Johnny Cash, or a Robert Plant, or a Tom Jones, and getting together with someone like T-Bone Burnett and producing a back-to-basics album? The amount of sales and cred it would get would dwarf what they've been putting out recently. Bit of a head-scratcher that.

And don't get me started on how Kings of Leon... Sob...

[jimslip]

There is nothing more annoying than billionaires like Boneo and Gandalf telling all of us to, "Give your fekking money to the poor!" whilst they are busily stashing their wonga in tax havens. This is why they are loathed by millions!

Also, more importantly, Bono wears his Goddam shades INSIDE his house.......I know someone in France who goes to his house. My friend also saw The Hedge wearing that stupid, Benny from Crossroads hat as well!

Anyway, when everyone has dusted off their knees from kneeling in homage to the greatness and goodness of Bono, perhaps they would care to peruse this article!!wink!

[william]

Call me cynical but doesnt the word charity strike fear and loathing into everyone ?

Its a minefield and there is so much corruption around charities - and nowadays they use charities as a cover especially in major companies as a way to smokescreen everything else......

The look we give millions to charity but personally I rake in millions and I keep that very quiet. Its good publicity and more important its free publicity - U2's countless mentions in literature keeps the band in the public eye....

[max_tranmere]

I imagine he, like all rich people, have advisors and they recommed that he does this and that with his money. He apparently owns a number of properties, I saw his main home when I was in Dublin - it is in Killiney which is the equivilant (in terms of wealth) as Hampstead in London, although it is a suberb and overlooks the sea. He seems to live a very ordinary life though, him and his wife have been together since they were at school.

[max_tranmere]

I personally have always found that a contradiction, he avoids his taxes yet bangs on about how Governments (who get their money from taxation) should spend more in Africa.