U2 frontman Bono will become the richest musician in the world May 18, overtaking Paul McCartney, the Hollywood Reporter said citing NME. 



Facebook is set to float on the stock exchange and all its early investors are set to earn huge amounts of money from the flotation, with the Irish singer among them.

The U2 singer owns 2.3 percent of the shares in Facebook through his private equity firm, Elevation Partners, which it bought for $90 million (£57 million) in 2009 and now stands to make a handsome return. Given the social media company is currently valued at over $100 billion (£63 billion), this makes Bono's share worth over $1.5 billion (£940 million) and puts him well above McCartney, who is currently the world's richest rock star with a fortune of £665 million.