Beautiful Pay; 2009 ROCKS FOR U2 AS BAND SET TO RAKE IN A FORTUNE.Byline: BY MIRROR REPORTER BONO and his bandmates are celebrating the Sweetest Thing - a recession-thumping EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 21million windfall. The rockers gave themselves the payout from their U2 Ltd company which is just one of their highly profitable enterprises. And just last week it was revealed they stand to bank about EUR25million by selling their shares in a music promotion company Live Nation. On top of that their 12th album is ready to hit music stores this March - sending the band into 2009 with enough money to fulfil all their desires. The new album titled No Line On The Horizon has been hailed by Bono as the band's best yet. In a recent interview the crooner boasted: "We've gone at it as if it was our first and the critics who have got a chance to listen to it already have all said it's the best yet." Bono said the record targets a younger audience and "it's very long". He added: "My favourite song is Moment Of Surrender. "And the first track is 150 beats per minute beats per minute Cardiac pacing The unit of measure for the frequency of heart depolarizations or contractions each minute–or pulse rate , the fastest song we've ever recorded." So while U2's musical career continues to flourish, their business empire also shows little sign of wilting under the recession. However, it hasn't all been good news for U2's various enterprises in 2008. Another branch of the empire, Elevation Partners Elevation Partners is a private equity firm that invests in intellectual property and media and entertainment companies. Its founding partners include Roger McNamee, a former founding partner of Silver Lake Partners and Integral Capital Partners; Marc Bodnick, a former founding , has just invested nearly EUR100million in smart-phone manufacturers Palm. That was after they forked out about EUR300 million buying shares in the company which has been hit by the recession. With sales down the investment is looking weak but Bono and the lads have shown faith in its future with a massive injection of cash. The band's enterprises on Dublin's Docklands have also had to be put on hold. The Norman Foster-designed U2 Tower, which would be Ireland's tallest building, is "under review". And similarly ambitious plans for The Clarence the five-star hotel in Dublin owned by Bono and The Edge may not see construction for many years. The project is currently with An Bord Pleanala and a spokesman said it is hoped that work will begin in 2010. U2 had also hoped to release their new album last spring but the date was repeatedly put back as they struggled to complete it. The delay, however, could raise expectations for its eventual release. Bono also likes to use his credentials as the frontman front·man n. 1. also front man A man who serves as a nominal leader but who lacks real authority. 2. Music A leading singer with a group. of one of the world's biggest bands as a selling point selling point n. An aspect of a product or service that is stressed in advertising or marketing. Noun 1. selling point - a characteristic of something that is up for sale that makes it attractive to potential customers for potential business partners. The Elevation website boasts of his "unique creative management as well as relationships at the highest levels of media and government". It reads: "Bono is also an active and successful leader in global politics and development policy. "Over the past five years Bono has worked with the administrations of both President Bush and President Clinton to significantly increase US involvement in key issues in the developing world. "Bono has received numerous honours during his career, including the French Legion of Honour Legion of Honour officially Order of the Legion of Honour Highest-ranking order and decoration of the French republic. It was created by Napoleon in 1802 as a general military and civil order of merit. and honorary doctorates." It goes on to boast of his nomination for the Nobel Peace Prize The Nobel Peace Prize (Swedish and Norwegian: Nobels fredspris) is the name of one of five Nobel Prizes bequeathed by the Swedish industrialist and inventor Alfred Nobel. in 2003, and that he reached the top 100 most influential people in Time Magazine. EUR25m What they'll make in shares EUR21m What they'll make in shares 12th Album to be a big earner Critics who have got a chance to listen to our new album already have all said it's the best yet CAPTION(S): BIG BUCKS Profitable rock band U2 |
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