Image reported:
In 2009, U2's Bono secured a 2.3% share in Facebook alongside five other investors for $86 million. A year later his investment group, Elevation Partners, purchased $120 million more shares in the social network. The return on such investing six years later? $1.4 billion.
Yahoo Finance reported:
"Social media companies have increasingly played major roles in political discourse around the world and according to one expert, the fallout has been significant.
We've had extraordinary damage done to democracy, public health, public safety, and people's ability to make their own choices," Roger McNamee, managing director at Elevation Partners and an early Facebook investor, told Yahoo Finance Live (video above). "Yet policymakers have done nothing, absolutely nothing."
Toxic personalities Kanye West and former President Donald Trump want social media to further their ends. West will buy Parler while Trump has troubled Truth Social.
Scientific genius Elon Musk is on track to eventually take out Twitter. As politicians in both parties love the buyout boys expect policymakers to remain on the sidelines.
Politicians Red and Blue love PEU (private equity underwriters) and increasingly, more are one.
