Bono, the leading singer of Irish rock band U2, denied that he is "the richest musician in the world" today when Facebook began trading for the public.

Facebook founder Mark Suckerberg rang the opening bell this morning as the social network kicked off its first day of trading.

Shares of Facebook rose as high as $45 each and the company reached a vaule of $122 billion. At this price, Bono's stake on Facebook (2.3 percent) could be worth $1.5 billion.

But when asked about if he expected to become the richest musician in the world Bono said : "Um, I don't think is true," according to the Washington Post.

Bono was attending a fundraiser event for President Barack Obama in Washington, D.C. today.

Bono has an investment company named "Elevation Partners" which reportedly bought 2.3 % of Facebook in 2009, however, his portion of Facebook is less. Forbes estimates Bono owns 1.5% of the company

Earlier Bono clarified he was not going to be richer than any Beatle.

“Contrary to reports, I'm not a billionaire or going to be richer than any Beatle — and not just in the sense of money, by the way," he told MSNBC.

"In Elevation, we invest other people's money — endowments, pension funds. We do get paid of course. 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 blessed."

The singer also explained why he chose to invest in Facebook.

"Technology is huge, I wanted to learn about it," Bono told MSNBC

"Facebook are an amazing team, a brilliant team, it's a technology that brings people together.”

The title for the "Richest Musician in the World" currently belongs to Paul McCartney with an estimated fortune of $1.05 billion, according to MTV News.