Backers reap rich rewards

IN THE space of eight years, Facebook has spread from a college bedroom to every corner of the world, has become integral to the way we communicate and cemented Mark Zuckerberg’s reputation as the pre-eminent entrepreneur of the 21st century.

Originally a networking site for students at Harvard, the social media giant was valued at £66bn before trading began yesterday, and those who backed Mr Zuckerberg’s vision stand to reap up to £11.6bn from the shares sale.

Celebrity investors include Bono, below, the lead singer of U2, who as co-founder and managing director of private equity firm Elevation Partners is expected to become the richest musician in the world when the firm sells its 2.3 per cent stake.