NME.com said Bono became the world's richest musician after his 2.3 percent share of Facebook spiked in value to $1.5 billion when the company went public. Bono bought the shares through his investment group, Elevation Partners, for $90 million in 2009.
Friday's development meant Bono surpassed former Beatles band member Paul McCartney as the world's richest rock star since McCartney's fortune is estimated to be worth around $1.05 billion, NME.com said.
But Bono played down the report in an interview with MSNBC, explaining the shares belong to his investment group, not just him.
"Contrary to reports, I am not a -- this boy is not a billionaire or going to be richer than any Beatle. … That's just a joke," Bono said.
"We invest in other people's money, in pension funds," Bono said. "We do get paid, and that is a good thing. … I'm blessed, 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 like this. I got interested in technology because I'm an artist, I'm interested in the forces that shape the world -- politics, religion, the stuff we've been talking about today. Technology is huge. I wanted to learn about it."