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Sir Richard Charles Nicholas Branson, professionally known as Richard Branson, is a commercial astronaut and a British business mogul. He formed the Virgin Group in the 1970s, which now oversees over 400 enterprises in diverse industries.
In this article, you will get to know about the net worth of Richard Branson, along with his career and many more. So, read this article till the end.
Who Is Richard Branson? Do You Know He Did Complete His High School?
Branson was born on July 18, 1950, in Blackheath, London, the son of attorney Edward James Branson (1918-2011) and former ballet dancer and air hostess Eve Branson (née Evette Huntley Flindt; 1924-2021).
Lindy Branson and Vanessa Branson are his two younger sisters. Sir George Arthur Harwin Branson, his grandfather, was a Privy Councillor and a judge on the High Court of Justice.
Branson attended Scaitcliffe School in Surrey before temporarily attending Cliff View House School in Sussex. Until the age of sixteen, he attended Stowe Institution, a private institution in Buckinghamshire.
Branson had dyslexia and performed poorly in school; on his last day, his headmaster, Robert Drayson, informed him he would either wind up in prison or become a millionaire. Branson has also admitted to having ADHD. Branson’s parents were early supporters of his endeavors.
His mother was an entrepreneur who built and sold wooden tissue boxes and waste paper bins as one of her most successful businesses. From 1967 to 1968, he began squatting in London.
Let’s Read Richard Branson’s Business Career!
After failing to produce and sell Christmas trees and budgerigars, Branson and Nik Powell founded Student magazine in 1966.
The first edition of Student was published in January 1968, and Branson’s net worth was estimated to be £50,000 a year later. Branson utilized the magazine to promote successful records, which boosted his record sales.
His shop offered records for a much cheaper price than the “High Street” stores, particularly the brand WHSmith.
Branson eventually opened a record store on London’s Oxford Street. In 1971, he was questioned about the sale of records labeled as export stock. The case was never heard in court because Branson agreed to return any unpaid purchase tax of 33% as well as a £70,000 fine. To assist pay the settlement, his parents mortgaged the family house.
Foundation Of Virgin Records!
In 1972, Branson and Nik Powell founded the record company Virgin Records with money gained from his record store. One of Branson’s early workers suggested the name “Virgin” because they were all new to the business.
During a trip to Puerto Rico, Branson made his first successful foray into the airline industry. When his flight was canceled, he decided to charter his own plane the rest of the way and provide the rest of the stranded passengers a trip for a little price to offset the cost.
In 1992, Branson sold the Virgin label to EMI for £500 million to keep his airline firm solvent. He founded V2 Records in 1996 to re-enter the music industry, controlling 5% of the company. Ranson also founded Virgin Mobile in 1999 and Virgin Blue, an airline, in Australia in 2000.
On September 25, 2004, Branson announced the signing of a deal in which a new space tourism company, Virgin Galactic, will license the technology used by SpaceShipOne, which was funded by Microsoft co-founder Paul Allen and designed by aeronautical engineer Burt Rutan, to transport paying passengers into suborbital outer space.
Virgin Healthcare stated on January 9, 2008, that it would launch a chain of health care clinics offering traditional medical care as well as homeopathic and complementary therapies, which was welcomed by Ben Bradshaw, the UK’s health minister.
The Virgin Group established Virgin Hotels in 2010. In February 2018, Branson announced the opening of the first Virgin Hotel in the United Kingdom in Edinburgh.
In 2010, Branson became a supporter of the Gordon Bennett 2010 gas balloon race in the United Kingdom, which featured 16 hydrogen balloons soaring across Europe.
Branson created the “Foodpreneur” food and beverage start-up competition in 2014. Winners received mentorship from Branson, legal assistance, and brand counseling.
More recently, Branson has been engaging in a space race with fellow billionaires Elon Musk and Jeff Bezos, creating Virgin Orbit in 2017 and Virgin Galactic in 2004.
In April 2018, Branson announced the purchase of the Hard Rock Casino-Hotel in Las Vegas, with plans to rebrand the facility under his Virgin Hotels brand. Virgin Hotels Las Vegas debuted on March 25, 2021.
In February 2019, Branson helped organize Venezuela Aid Live, an international benefit event to draw attention to the humanitarian crisis and generate funding for humanitarian aid. The concert was held on February 22nd at Cucuta, Colombia, near the Venezuelan border.
Who Is Richard Branson’s Wife?
In 1972, Branson married Kristen Tomassi and divorced her in 1979. They didn’t have any children together. Branson met Joan Templeman in 1976 and later established a relationship with her.
During the partnership, three children were born: Clare Sarah (born 1979), who died barely four days after birth, Holly (born 1981), and Sam (born 1985. Branson and Templeman married on Necker Island in 1989.
How Rich Richard Is?
According to Forbes magazine, Branson’s net worth was $3.6 billion (£2.9 billion) at the start of 2023, ranking him 798th in the world.
In an interview with LBC, he told Tom Swarbrick, “I despise the term billionaire.” “I view myself as someone who enjoys making stuff… I’ve never considered going into these businesses with the intention of making a lot of money.”
Branson owns a variety of properties across the world, but his primary residence is Necker Island, a private 74-acre refuge in the aptly called British Virgin Islands.
He purchased the island in the late 1970s for $180,000 and has reportedly spent $10 million transforming it into a luxury resort where high-end travelers can pay upwards of $40,000 per night to stay.
To conclude, there are currently more than 40 Virgin enterprises functioning in 35 countries, albeit there have been some setbacks along the road, including Virgin Cola, Virgin Vodka, Virgin Clothing, and the three-year-old lingerie endeavor Virgin Ware. Richard Branson is the Richest personality in the world.