But Ill-fated celebrity investments are a lesson that talents have limits and trying to overstretch the can cause serious pain in the heart and the pocket. Here are some celebrities who learned the hard way that Wall Street is not Hollywood.
Paul David Hewson, better known as Bono, made money in music and entertainment industry. Like any ambitious man, Bono founded private-equity firm Elevation Partners, focusing on investment in promising media and entertainment assets. Elevation made several smart investment moves, including being an early investor in Facebook and Yelp. The firm more than doubled its investments in BioWare and Pandemic Studios after the businesses were acquired by Electronic Arts for $620 million. Elevation had invested $300 million in the studios.