U2 frontman Bono reportedly made £56.4 million (US$82.3 million) from Palm’s 34 percent share price increase after the company revealed its new operating system, webOS, and handset, the Palm Pre. The legendary singer is a managing partner for Elevation Partners, the investment firm that now owns 39 percent of Palm after injecting another $100 million into the cellphone maker in December.
Bono has ponied up £67.1 million (US$98 million) for Palm so far–out of pocket–so he must have been happy after nearly doubling his money. However, now that the initial ‘wow’ prompted by Palm’s new products at CES has died down, the company’s share price was down over 15 percent in trading today.
(Image Credit: danny.hammontree)
