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Bono’s firm loses €513m as Facebook shares fall further

Bono in Ibiza, on August 12th, 2012 – Photo: PacificCoastNews.com

By Clodagh Sheehy

A COMPANY backed by U2 singer Bono has lost over €513m as shares in the Facebook social network continue on their downward spiral.

Elevation Partners, the fund that includes Bono on its list of investors, has dropped from €1.09bn to €578m since the Facebook flotation just three months ago.

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Copyright 2012 U2 France / http://www.u2france.com/actu