|Richard Charles Nicholas Branson
|July 18, 1950
|Blackheath, London, England
|Investor ; Philanthropist ; Business magnate ; Author
|Holly ; Sam
|Last Updated :
Sir Richard Branson is an investor, business mogul, author, and philanthropist. He is 69 years old and is the founder of Virgin Group, which controls more than 400 companies in diverse fields. Branson is 1.79m tall and weighs 87kg. Richard Branson net worth is estimated at $4.5 billion making him one of the richest men in the world. In this article, we will cover his biography, sources of income, business exploits, personal life, and many other facts about him.
Richard Branson Early Life
Richard Branson was born on 18th July 1950 in Blackheath, London to Eve Branson and Edward James Branson. His mother Eve, was a former ballet dancer and air hostess, while his father Edward was a barrister. He has two younger sisters and his grandfather, the Right Honourable Sir George Arthur Harwin Branson, worked as a judge of the High Court of Justice and a Privy Councillor.
Richard Branson Career Life
Richard Branson has always been interested in business right from his youth and he established his first business, which was a magazine named “Student” at the age of 16. The magazine’s first issue appeared in January 1968 and was well received. Branson used the magazine as a vital component of his mail-order record business and this drove our sales. He sold records much less than the “High Street” stores. However, Branson also ended up starting his own record shop on Oxford Street in London.
The Virgin Group began with profits from the record shop. The first business of the group was the setting up of a record label, Virgin Records with Nik Powell in 1972. One of Branson’s early employees suggested the name “Virgin” because they were all new to the business. He bought a country estate north of Oxford and installed a recording studio which he called “The Manor Studio”. He leased studio time to other artists and also signed controversial artists like the Sex Pistols. The first release for Virgin Records was Mike Oldfield, whose debut album Tubular Bells in 1973, became a chart-topping one. The record label would go on to become the world’s largest independent record label having on board artists like Rolling Stones, Peter Gabriel, XTC, Japan, UB40, Steve Winwood, and Paula Abdul.
Richard Branson net worth shot up to an estimated 5 million pound sterling by 1979 and the record label went international a year later.
Branson decided to enter the airline industry after his flight was canceled while on a trip to Puerto Rico. He decided to charter a plane for the rest of the journey and also picked up the rest of the stranded passengers for a small fee to help in covering the cost.
He went on to start his airline, Virgin Atlantic Airways in 1984 and this has grown to become one of the largest airlines with a fleet size of 42 aircraft and flights to about 30 destinations. He also set up Virgin Cargo the same year and in 1985 set up Virgin Holidays.
Richard Branson’s business today revolves around the Virgin Group, which consists of over 400 companies in different sectors of the economy.
Branson’s exploits in business would not be complete without mentioning that he has failed at several businesses but this has never dampened his enthusiasm. Some of these failed ventures include Virgin Cola, Virgin Cars, Virgin Publishing, Virgin Clothing, and Virgin Brides.
Richard Branson Personal Life
Richard Branson has been married twice. He first got married to Kristen Tomassi in 1972 and the marriage ended in 1979. He married his second wife Joan Templeman on his Necker Island in 1989. The marriage was blessed with three children, including a daughter who died when she was four days old. The names of his children are Holly (1981), Sam (1985), and Clare Sarah (who died after 4 days in 1979).
Branson lives on his luxury British Virgin Islands retreat, Necker Island. He bought the Island for $180,000 in 1978.
Richard Branson Awards and Recognitions
Branson is a recipient of several awards. These include an honorary degree of Doctor of Technology from Loughborough University. He received the Tony Jannus Award for his contributions to commercial air transportation in 2000. He was inducted into the International Air & Space Hall of Fame at the San Diego Air & Space Museum also in 2000. The Business for Peace Foundation also gave him the 2014 Business for Peace Award in Oslo, Norway on the 15th of May, 2014.
Richard Branson Net Worth
Richard Branson net worth is estimated at $4.5 billion. His wealth has however experienced a decline over the years as his former net worth was about $4.8 billion. The Virgin Group which is a conglomeration of over 400 diverse businesses is the major source of his wealth.
Richard Branson net worth in 2020 is also made up of a huge real estate portfolio. He owns a private game reserve in Sabi Sand Reserve, South Africa, covering an area in excess of 13,000 hectares. He also owns a hotel in Morocco, a beautiful Kasbah Tamadot Hotel, situated at the foothills of the Atlas Mountains, close to Marrakesh.
Branson is also the proud owner of a grand retreat named “The Roof Gardens” and a marvelous lodge house “The Lodge Verbier” in Switzerland.
Richard Branson net worth also includes his 3 Islands. He bought Necker Island, his primary abode for $180,000 in 1978 but has spent more than $10 million to bring it to his taste. Branson has transformed the uninhabited island into a luxurious and beautiful estate. His second Island is located at Noosa, Australia’s Sunshine Coast, and is called “Makepeace Island”. The third, Moskito Island, is located in the North Sound, not so far from Anguilla Point, Virgin Gorda. He paid $10 million for this 120-acre Island in 2007 and plans to transform it into the most ecologically friendly Island in the world.
Richard Branson net worth also includes his two private jets (French-made Falcon 900EX and his VSS Enterprise). Branson also owns a luxury submarine which cost $663,000. His cars include a Saab 9-5 BioPower, a 1968 Morris Mini-Minor, a classic Humber Super Snipe convertible, and others.
The business mogul also owns the “Necker Belle Yacht”, a luxurious yacht in a class of its own, which he rents out for $88,000 per week.
Richard Branson’s biography & net worth is very interesting. He is an inspiration and his way of doing business stands him out. The years to come will be interesting for the entrepreneur as he has already lined up new business ventures to explore.