I doubt if Bono would take the job. But I dare say he could do it. At that level it's all about the maintaining the big picture and inspiring the capable people around you. All top level jobs are like that.
He has the ear of the American president, whichever one is in power. Although he did admit once that George W had to bang the table and tell him to 'Shut up'

when Bono was ranting on at him. He's clearly highly capable and probably if he wasn't a rock star would have been something in politics or business. But unless it's really more of a figurehead job I really doubt he'd have the time. Interesting idea though.