Bono is expected to become almost $1 billion richer from the stock offering, propelling him past Sir Paul McCartney who is worth an estimated $600 million to $750 million, and making Bono the richest person in rock ’n’ roll, according to NME.

In April 2010, Bono’s private equity firm Elevation Partners purchased a 1 percent stake in Facebook for $90 million. Friday’s Facebook IPO valued the company at more than $100 billion.

And when it comes to being rich, the above value of Bono does not include the worth of his 30-year career as a rock star (including the profitable 360 Tour) and vocal advocate for causes like Third World debt relief.

Meanwhile, the band is said to be recording, working with Carl Falk, the songwriter for One Direction’s latest hits.

“The band are back in the studio getting a feel for new material after the last album No Line On The Horizon,” a source told NME. “Will.i.am had a credit on that and they are looking to explore that direction further. They have been working with Danger Mouse and RedOne. They are excited about getting to work with Carl Falk.”