Richard Branson Age: Sir Richard Branson is a colorful businessman who founded the Virgin Group. Virgin Group was founded in 1972 with Virgin Records and has since grown to over 40 companies with over 60,000 employees across 35 countries. The Virgin Group’s founder and head is Branson. Forbes estimates that the 73-year-old Branson’s net worth was $3.4 billion as of 2024.
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Richard Branson Biography
Airlines, wireless communications, radio stations, hotels, health clubs, financial services firms, the nightclub Heaven, renewable technologies, a Formula One team, and even a space tourism enterprise are among the businesses owned by Branson.
The estimated net worth of 73-year-old entrepreneur Sir Richard Branson is $3.4 billion. At the age of sixteen, Branson launched his first business, a magazine named Student. Today, he owns or has owned a large number of businesses, including hotels, record labels, airplanes, and radio stations.
Virgin America Airlines was controlled by Branson until 2016 when it was bought by Alaska Air. Branson was against the deal, but he did not have enough votes to block it. Virgin Records, the label that released artists such as the Rolling Stones and the Sex Pistols, is presently owned by Branson. Virgin Mobile was launched in 2001 by his firm in collaboration with Sprint.
In 1972, Branson married Kristen Tomassi; the two later got divorced in 1979. Together, they were childless. Joan Templeman and Branson first crossed paths in 1976, and they subsequently started dating. During the partnership, three children were born: a son named Sam (b. 1985), a daughter named Clare Sarah (b. 1979), who passed away four days after her birth, and a second daughter named Holly (b. 1981). Templeman and Branson got married on Necker Island in 1989.
Following Hurricane Irma in 2017, Branson’s Necker Island house became uninhabitable. This was the residence on Necker Island’s second major setback after Hurricane Irene’s lightning strike in 2011 forced the structure to catch fire.
At the age of 96, Branson’s mother, Eve, passed away in January 2021 as a result of COVID-19 problems. Her son made an online celebration of her life. To perform an in-flight wedding as part of Virgin America’s domestic travel promotion, Branson underwent ministerial ordination in 2007 at the Universal Life Church Monastery. He presided over the Stowe School’s Old Stoic Society from 2013 to 2017.
Motorboating is the term for the sexual assault that singer Antonia Jenae, who supported Joss Stone, claimed she experienced at Necker Island in November 2017. The incident involved Branson “putting his head between her cleavages and making boat engine noises.”
At the age of sixteen, Richard Branson launched his first business, Student, a magazine that featured celebrity interviews. The first issue sold about $8,000 worth of advertising. He left school to make more money for his magazine. He began a mail-order record company in 1969, working out of the magazine office. Virgin was the name given to the new company by Branson and his group of 20 workers.
Branson started Virgin Mail Order Records in 1970. He had 14 record stores by 1972, despite a difficult beginning. In 1972, he founded Virgin Records, a record company, with the money he made from his chain of record stores. When Mike Oldfield, a recording artist for Virgin Records, sold more than five million copies of his album “Tubular Bells,” he received his first million dollars in 1973.
Branson’s willingness to sign the Sex Pistols and other controversial acts contributed to some of his early success at Virgin Records. Other well-known Virgin performers were Ozzy Osbourne and the Rolling Stones. With locations in Germany, France, and Japan, Virgin Music rose to become one of the top six record labels globally by the end of the decade.
Necker Island, in the British Virgin Islands, was bought by Branson for $180,000 in 1979. His principal home is Necker Island. In 1981, Virgin Video and Virgin Books were established. In just two years, Branson’s empire of businesses grew to encompass over 50 distinct businesses with over $17 million in total revenues.
In 1984, Branson founded Virgin Atlantic, one of his most well-known businesses to date, in partnership with attorney Randolph Fields. The airline’s excellent customer service and cutting-edge in-flight amenities, like complimentary ice cream, back-seat TV screens, and in-flight massages, helped it take off.
To keep Virgin Atlantic solvent, Branson reluctantly sold Virgin Records to Virgin Atlantic in 1992 for $1 billion. Virgin Atlantic had turbulent years during this time. People were unable to travel due to terrorist attacks, and a larger competitor, British Airways, launched what Branson referred to as “a hostile campaign designed to cause permanent damage to Virgin.”
After Branson successfully sued British Airways for libel, a court ordered the airline to pay $945,000 in damages to Branson and Virgin, along with an estimated $3 million in legal expenses, and to issue an apology in 1993. Branson launched Virgin Trains in 1997.
How Much Is Richard Branson Worth?
Richard Branson’s net worth is $3.4 billion.
How Did Richard Branson Get So Rich?
Richard Branson owes his wealth to a group of companies that use the “Virgin” brand.