El Inglés continues to command the important and gigantic economic conglomerate called Virgin Group, which has under its domain more than 360 companies dedicated to certain sectors and services such as: music, drinks, books, hotels, cruises, financial services, health insurance, airlines, mobile telephony, space travel, among many more. How did Richard Branson build all that?
Coming from a wealthy family, from a very young age, Branson showed an inclination for business. At the age of 16, he launched his first business “Student”, a magazine that addressed issues of music and youth culture, financed through advertising that he himself obtained at a young age. In the magazine made almost by beginners, interviews were conducted with celebrities such as Mick Jagger and John Lennon. This initial project was the foundation of what would become an extensive business career.
When the 70s arrived, when he was only 19 years old, Richard began to create the seed that gave him fame, power and money. Without understanding much of the subject, Branson revolutionized the way of selling music records (pirates) through the mail. After that, Branson opened a physical store in London to sell records and then founded the record company Virgin Records. Together with his partner, Nick PowellRichard entered an area about which they had little idea, and that is why the duo decided to choose that name, which means “Virgin” in English.
The record label found fame after releasing the album Mike Oldfield, “Tubular Bells.” The meteoric rise (a trademark in all of Richard’s businesses) was instantaneous and in a short time the record company became very relevant by making recordings with Sex Pistols and the Rolling Stones. Although the business was a success, the company was sold in the nineties to pay debts for a million-dollar sum. EMI, one of the competitors of Branson’s company. However, Branson did not want to leave the music industry and founded another record company called V2. Despite having sold Virgin Records, The businessman kept the name which he used for most of his companies.
The years continued and the boy who seemed like he would not go far due to his dyslexia began to not put all his eggs in one basket. Over time, Virgin became a powerful economic conglomerate that encompasses hundreds of companies and sectors.
In the 1980s, Branson expanded his brand into the aviation sector with the creation of Virgin Atlantic Airways. With no prior experience in this field, he took on established competitors and managed to position Virgin Atlantic as a preferred choice for travelers. In the ’90s, he further diversified his empire with Virgin Trainsoperating various railway franchises after the privatization of British Rail.
The Virgin brand spans a vast range of industries, from gyms and telecommunications to travel agencies and health services. Branson has also shown a strong commitment to the environment through Virgin Fuelsa company focused on developing cleaner fuels.
One of Branson’s most ambitious projects is Virgin Galactic, founded in 2004, dedicated to space tourism. Despite technical challenges and a tragic accident in 2014, Branson managed to realize his dream of traveling to space in July 2021, preceding other space moguls such as Jeff Bezos and Elon Musk, who have fortunes incalculably greater than Richard has. Virgin Galactic now offers spaceflight to customers interested in experiencing weightlessness and the view of Earth from space.
In addition to his business achievements, Branson is known for his eccentric lifestyle and media appearances. He has made cameos in movies and television shows, and in 2013, he dressed as a stewardess on an Air Asia flight as part of a bet. Branson has also been an active philanthropist and has participated in numerous social and political causes, such as his opposition to Brexit and his support of the fight against the Nicolás Maduro regime in Venezuela.
In turn, the mega-tycoon has lived for years mainly on Necker Island, an island in the British Virgin Islands that he bought for $180,000 in 1978 and has transformed into a luxurious refuge, where important celebrities have stayed.
Despite being older, the English millionaire always had the voracity and desire to go for more. Despite being 73 years old, he dreams of seeing a Virgin hotel on the moon since he thinks there will be lunar trips there.
Richard Branson’s net worth in 2024
Currently, the British mega-businessman has a significant fortune. According to Forbes magazine, Richard Branson is ranked 1,545th in the ranking of the richest men in the world, with an estimated net worth of $2.6 billion.
Richard Branson is a living example of someone who did not inherit a large fortune and was self-made. Richard with determination and creativity has managed to build a diversified empire and lead the way towards space tourism. His story can become an inspiration for entrepreneurs around the world.
