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Bono the businessman (part owner of Forbes)

Elevation Partners

“Forbes Inc….announced Monday that it had sold a minority stake in its key media properties to Elevation Partners, a $1.9 billion private equity fund with offices in New York and Menlo Park, Calif. It is the first time that the 89-year-old, family-owned company had sold a major stake to an outside investor. Elevation, which counts U2 front man Bono as a co-founder and partner…” [FORBES]

“For a man who won popular support when he castigated the Irish government for its failure to spend our tax in the way that he saw fit, Bono now finds himself standing in a lonely place. Last week the rock-star-turned-campaigner was exposed for taking part in a decision that will deliberately reduce the amount of tax that he and his business partners in U2 will contribute from next year onwards.” [U2 Achtung]

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