Has Bono Found What He’s Looking For?

Has Bono Found What He’s Looking For?

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This busy musician has his finger in a lot of pies, all of which are related to improving the lot of others.

Bono, in partnership with fellow band member The Edge, has refurbished and owns The Clarence Hotel in Dublin. In 1992, the two men bought and refurbished the two-star 70-bedroom hotel, and converted it into a five-star 49-bedroom hotel.

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Bono is also widely known for his activism concerning Africa, for which he co-founded DATA (Debt, Aids, Trade, Africa), Edun Clothing, the ONE Campaign and Product Red.

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Founded in 2005, Edun Clothing focuses on lifting up developing countries through trade. The goal is to use factories in Africa, South America and India that provide fair wages to workers and practice good business ethics to create a business model that will encourage investment in developing nations.

 

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Product Red is another initiative begun by Bono (with American activist Bobby Shriver) to raise money for the Global Fund to Fight AIDS, Tuberculosis, and Malaria. Shriver is the CEO of Product Red, whilst Bono is currently an active public spokesperson for the brand.

Product Red partners companies that create a product with the Product Red logo. A percentage of the profits from the sale of these labelled products go to the Global Fund.

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Bono entered the private equity market in 2004, joining the board of Elevation Partners. Through the private-equity firm, Bono has invested in the Forbes Media group in the US. The firm also owns a 1.5% stake in social networking site Facebook.

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Alison Job
Alison Job holds a BA English, Communications and has extensive experience in writing that spans news broadcasting, public relations and corporate and consumer publishing. Find her at Google+.