Close But No Cigar...

BONO: Not Quite

Despite published reports, Bono says he's not a billionaire following the IPO of Facebook stock on Friday.

Elevation Partners, the venture capital firm he's a partner of, owns a 2.3 percent stake in the social media giant after paying just under $90 million dollars for it three years ago. Friday's IPO earned Elevation $1.4 billion dollars, but Bono says, "Those billionaire reports are a joke. In Elevation, we invest other people's money -- endowments, pension funds. We do get paid, of course. But you know, I felt rich when I was 20 years old and my wife was paying my bills. Just being in a band, I've always felt blessed."

Bono may be blessed, but he should also be concerned as Facebook stock closed down more than $4 a share yesterday in its second day of trading.