Bono's Foundation Gives Only One Percent To Charity

More than 50 per-cent of the funds accumulated by the foundation was spent on paying salaries, and the Irish rocker is now facing allegations of mismanagement. Since its founding in 2002, 'One' has laid on a number of star-studded fundraising events in the UK, with the most recent raising funds for the goal of no child being born with HIV by 2015.

Oliver Buston, a spokesman for the organisation, defended the way in which the operation is run, alluding to the fact that money is often used for promoting the cause, he said, "We don't provide programmes on the ground. We're an advocacy and campaigning organisation". Bono's philanthropic work has not gone unnoticed - in recent years he has been nominated for the Nobel Peace Prize, granted an honorary knighthood by Queen Elizabeth II, and named 'Person of the Year' by Time Magazine.