Ezra Klein does an excellent job explaining how the the opportunities for the rich are different than the opportunities for the rest of us. He explains how Bono and the rest of his investors in his investment group invested $90 million into Facebook early on and now that investment appears to be worth $1.5 Billion.
You and I didn’t have that chance to invest. This isn’t about Bono who is taking those proceeds and giving them to his Africa charities; it is about leveling the playing field because the opportunities for the people with capital are way more extensive than the opportunities for people without it.
The Rolling Stone explains:
Bono‘s investment group, Elevation Partners, stands to make more than $1.5 billion in the initial public offering of Facebook stock, Nasdaq reports. Elevation Partners bought 2.3 percent of the social network company for $90 million in 2009.
Facebook is expected to raise $16 billion in its IPO, which would be the largest tech IPO in history, and the third largest IPO for an American company following Visa and General Motors. The company is not yet cleared by the Securities and Exchange Commission to launch the IPO, but CNN reports that Facebook will set its shares at $38 each.
As of 5/19/2012 – one share of Facebook is going for $38.23 (source)
