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Richard Branson
Also Known As Sir Richard Charles Nicholas Branson , Branson
Founder, Virgin AtlanticBritish business magnate
Sir Richard Charles Nicholas Branson is a British business magnate and commercial astronaut. In the 1970s he founded the Virgin Group, which today controls more than 400 companies in various fields.
Branson expressed his desire to become an entrepreneur at a young age. His first business venture, at the age of 16, was a magazine called Student. In 1970, he set up a mail-order record business. He opened a chain of record stores, Virgin Records—later known as Virgin Megastores—in 1972. Branson's Virgin brand grew rapidly during the 1980s, as he started the Virgin Atlantic airline and expanded the Virgin Records music label. In 1997, Branson founded the Virgin Rail Group to bid for passenger rail franchises, during the privatisation of British Rail. The Virgin Trains brand operated the InterCity West Coast franchise from 1997 to 2019, the InterCity CrossCountry franchise from 1997 to 2007, and the InterCity East Coast franchise from 2015 to 2018. In 2004, he founded spaceflight corporation Virgin Galactic, based at Mojave Air and Space Port in California, noted for the SpaceShipTwo suborbital spaceplane designed for space tourism.
In March 2000, Branson was knighted at Buckingham Palace for "services to entrepreneurship". For his work in retail, music and transport (with interests in land, air, sea and space travel), his taste for adventure and for his humanitarian work, he has become a prominent global figure. In 2007, he was placed in the Time 100 Most Influential People in the World list. In June 2023, Forbes listed Branson's estimated net worth at US$3 billion.
On 11 July 2021, Branson travelled as a passenger onboard Virgin Galactic Unity 22 at the edge of space, a suborbital test flight for his spaceflight company Virgin Galactic. The mission lasted approximately one hour, reaching a peak altitude of 53.5 miles (86.1 km). At 70, Branson became the third oldest person to fly to space.
Early business career :
After failed attempts to grow and sell both Christmas trees and budgerigars, Branson launched a magazine named Student in 1966 with Nik Powell. The first issue of Student appeared in January 1968, and a year later, Branson's net worth was estimated at £50,000. The office for the venture was situated in the crypt of St. John's Church, off Bayswater Road, in London. Though not initially as successful as he hoped, the magazine later became a vital component of the mail-order record business Branson started from the same church he used for Student. Branson used the magazine to advertise popular albums, driving his record sales. He interviewed several prominent personalities of the late 1960s for the magazine including Mick Jagger and R. D. Laing. Branson took over full direction of Student after successfully lying to Powell that the workers at the magazine opposed Powell's plans to turn the magazine into a cooperative.
His business sold records for considerably less than the "High Street" outlets, especially the chain WHSmith. Branson once said, "There is no point in starting your own business unless you do it out of a sense of frustration." At the time, many products were sold under restrictive marketing agreements that limited discounting, despite efforts in the 1950s and 1960s to limit retail price maintenance.
Branson eventually started a record shop in Oxford Street in London. In 1971, he was questioned in connection with the selling of records declared export stock. The matter was never brought before a court because Branson agreed to repay any unpaid purchase tax of 33% and a £70,000 fine. His parents re-mortgaged the family home to help pay the settlement.
Early Life
Branson was born 18 July 1950 in Blackheath, London, the son of Edward James Branson (1918–2011), a barrister, and his wife Eve (née Evette Huntley Flindt; 1924–2021), a former ballet dancer and air hostess. He has two younger sisters, Lindy and Vanessa. His grandfather, Sir George Arthur Harwin Branson, was a judge of the High Court of Justice and a Privy Councillor.
Branson's great-great-great-grandfather, John Edward Branson, left England for India in 1793; John Edward's father, Harry Wilkins Branson, later joined his son in Madras. Starting from 1793, four generations of Branson's family lived in India, mostly at Cuddalore Tamilnadu. On the show Finding Your Roots, Branson was shown to have 3.9% South Asian (Indian) DNA, likely through intermarriage. Later, he stated that one of his great-great-great-grandmothers was an Indian named Ariya.
Branson was educated at Scaitcliffe School, a prep school in Surrey, before briefly attending Cliff View House School in Sussex. He attended Stowe School, a private school in Buckinghamshire until the age of sixteen.
Branson has dyslexia, and had poor academic performance; on his last day at school, his headmaster, Robert Drayson, told him he would either end up in prison or become a millionaire. Branson has also talked openly about having ADHD. Branson's parents were supportive of his endeavours from an early age. His mother was an entrepreneur; one of her most successful ventures was building and selling wooden tissue boxes and wastepaper bins. In London, he started off squatting from 1967 to 1968.
Branson is an atheist. He said in a 2011 interview with CNN's Piers Morgan that he believes in evolution and the importance of humanitarian efforts but not in the existence of God. "I would love to believe," he said. "It's very comforting to believe".
Education
- Educated at Scaitcliffe School, a prep school in Surrey -
Career
- British business - magnate
- Virgin Group - founder
Other Activites
Recognition
In 1992, Branson received the Golden Plate Award of the American Academy of Achievement.
In 1993, Branson was awarded an honorary degree of Doctor of Technology from Loughborough University.
In the New Years Honours list dated 30 December 1999, Elizabeth II signified her intention to confer the honour of Knight Bachelor on him for his "services to entrepreneurship".
He was knighted by Charles, Prince of Wales on 30 March 2000 at an investiture in Buckingham Palace.
Also in 2000, Branson received the Tony Jannus Award for his accomplishments in commercial air transportation.
In 2000, Branson was inducted into the International Air & Space Hall of Fame at the San Diego Air & Space Museum.
Branson appears at No. 85 on the 2002 list of 100 Greatest Britons on the BBC and voted for by the public. Branson was also ranked in 2007's Time magazine's list of the 100 Most Influential People in The World. On 7 December 2007, United Nations Secretary General Ban Ki-Moon presented Branson with the United Nations Correspondents Association Citizen of the World Award for his support for environmental and humanitarian causes.
On 24 January 2011, Branson was awarded the German Media Prize (organised by "Media Control Charts"), previously handed to former US president Bill Clinton and the Dalai Lama.
On 14 November 2011, Branson was awarded the ISTA Prize by the International Space Transport Association in The Hague for his pioneering achievements in the development of suborbital transport systems with "Virgin Galactic".
On 11 February 2012, Branson was honoured with the National Academy of Recording Arts and Sciences' President's Merit Award for his contributions to the music industry.
On 2 June 2013, Branson received an honorary degree of Doctor Honoris Causa from Kaunas Technology University in Kaunas, Lithuania.
On 15 May 2014, Branson received the 2014 Business for Peace Award, awarded annually by the Business for Peace Foundation in Oslo, Norway.
On 21 September 2014, Branson was recognized by The Sunday Times as the most admired business person over the last five decades.
On 9 October 2014, Branson was named as the No. 1 LGBT ally by the OUTstanding organisation.
On 29 October 2015, Branson was listed by UK-based company Richtopia at number 1 in the list of 100 Most Influential British Entrepreneurs.
In October 2015, Branson received the International Crisis Group Chairman's Award at the United Nations Development Programme's in Pursuit of Peace Awards Dinner.
On 16 October 2018, Branson received a star on the Hollywood Walk of Fame under the category of recording for co-founding Virgin Records. The Hollywood Chamber of Commerce placed his star at 6764 Hollywood Boulevard in Los Angeles, United States.